NATURAL SELECTION HAIR & BEAUTY RENTAL LTD - Accounts

NATURAL SELECTION HAIR & BEAUTY RENTAL LTD - Accounts

NATURAL SELECTION HAIR & BEAUTY RENTAL LTD - Company Information

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Registered Number: SC624226
Scotland

 

 

 

NATURAL SELECTION HAIR & BEAUTY RENTAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

NATURAL SELECTION HAIR & BEAUTY RENTAL LTD
Contents Page
For the year ended 31 March 2021
Director Tara Cleave
Registered Number SC624226
Registered Office 9b Coal Wynd
Kirkcaldy
Fife
KY1 2RB
1
  2021   2020
    £ £   £ £
Current assets 10,650      2,717   
Creditors: amount falling due within one year (34,084)     0   
Net current liabilities   (23,434)     2,717 
Total assets less current liabilities   (23,434)     2,717 
Creditors: amount falling due after more than one year   (1)     (25,794)
Net liabilities   (23,435)     (23,077)
 

         
Capital and reserves   (23,435)     (23,077)
 
NOTES TO THE ACCOUNTS

General Information
NATURAL SELECTION HAIR & BEAUTY RENTAL LTD is a private company, limited by shares, registered in Scotland, registration number SC624226, registration address 9b Coal Wynd, Kirkcaldy, Fife, KY1 2RB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1 (2020 : 1).


For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the financial reporting standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 December 2021 and were signed by:


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Tara Cleave
Director
2