All About Hair (Chly) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06942852 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ALL ABOUT HAIR (CHORLEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Lake

SECRETARY:

G Storey

REGISTERED OFFICE:

c/o Christian Douglass Accountants

Limited

2 Jordan Street

Knott Mill

Manchester

M15 4PY

REGISTERED NUMBER:

06942852 (England and Wales)

ACCOUNTANTS:

Christian Douglass Accountants Limited

Chartered Accountants

2 Jordan Street

Knott Mill

Manchester

M15 4PY

FIXED ASSETS

Tangible assets

4

3,721

2,576

CURRENT ASSETS

Stocks

5

20,277

20,375

Debtors

6

9,786

12,957

Cash at bank

115,261

59,536

145,324

92,868

CREDITORS

Amounts falling due within one year

7

35,386

41,564

NET CURRENT ASSETS

109,938

51,304

TOTAL ASSETS LESS CURRENT LIABILITIES

113,659

53,880

CREDITORS

Amounts falling due after more than one year

8

(47,500

)

-

PROVISIONS FOR LIABILITIES

(188

)

-

NET ASSETS

65,971

53,880

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

65,967

53,876

SHAREHOLDERS' FUNDS

65,971

53,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 April 2021 and were signed by:

C Lake - Director

1.	STATUTORY INFORMATION

All About Hair (Chorley) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06942852 and its registered office is at 2 Jordan Street, Knott Mill, Manchester, M15 4PY.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amount derived from ordinary activities, being services supplied and goods sold, and is stated after trade discounts, other sales tax and value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2020

9,923

26,958

6,040

42,921

Additions

-

512

2,400

2,912

Disposals

-

-

(1,792

)

(1,792

)

At 31 December 2020

9,923

27,470

6,648

44,041

DEPRECIATION

At 1 January 2020

9,144

25,397

5,804

40,345

Charge for year

779

663

325

1,767

Eliminated on disposal

-

-

(1,792

)

(1,792

)

At 31 December 2020

9,923

26,060

4,337

40,320

NET BOOK VALUE

At 31 December 2020

-

1,410

2,311

3,721

At 31 December 2019

779

1,561

236

2,576

5.

STOCKS

31.12.20

31.12.19

£

£

Stocks

20,277

20,375

6.

DEBTORS

31.12.20

31.12.19

£

£

Amounts falling due within one year:

Other debtors

404

3,575

Amounts falling due after more than one year:

Other debtors

9,382

9,382

Aggregate amounts

9,786

12,957

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

2,500

-

Trade creditors

4,263

2,876

Taxation and social security

24,986

22,274

Other creditors

3,637

16,414

35,386

41,564

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

47,500

-

31.12.20

31.12.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

7,500

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

50,598

52,152

Between one and five years

24,600

75,198

75,198

127,350