Ashnaa Hair & Beauty Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07293793 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Ashnaa Hair & Beauty Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs T C Crossley

S N Crossley

REGISTERED OFFICE:

6 George Street

Croydon

Surrey

CR0 1PA

REGISTERED NUMBER:

07293793 (England and Wales)

ACCOUNTANTS:

Times Accountancy Services Limited

Chartered Certified Accountants and

Registered Auditors

Alcala

Rectory Lane

Woodmansterne

Surrey

SM7 3NY

FIXED ASSETS

Tangible assets

4

2,755

2,200

CURRENT ASSETS

Stocks

875

875

Debtors

5

9,740

3,598

Cash at bank and in hand

2,144

19,026

12,759

23,499

CREDITORS

Amounts falling due within one year

6

28,074

33,465

NET CURRENT LIABILITIES

(15,315

)

(9,966

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,560

)

(7,766

)

CREDITORS

Amounts falling due after more than one year

7

13,331

18,750

NET LIABILITIES

(25,891

)

(26,516

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(25,892

)

(26,517

)

SHAREHOLDERS' FUNDS

(25,891

)

(26,516

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 March 2022 and were signed on its behalf by:

Mrs T C Crossley - Director

1.	STATUTORY INFORMATION

Ashnaa Hair & Beauty Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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.

Going concern

The accounts have been prepared as a going concern with the continued support of the directors/shareholders.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Computer

Equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2020

-

4,843

1,744

6,587

Additions

1,475

-

-

1,475

At 30 June 2021

1,475

4,843

1,744

8,062

DEPRECIATION

At 1 July 2020

-

2,907

1,480

4,387

Charge for year

171

485

264

920

At 30 June 2021

171

3,392

1,744

5,307

NET BOOK VALUE

At 30 June 2021

1,304

1,451

-

2,755

At 30 June 2020

-

1,936

264

2,200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

9,740

3,598

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

-

326

Trade creditors

24,620

29,738

Taxation and social security

412

-

Other creditors

3,042

3,401

28,074

33,465

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

13,331

18,750

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

13,331

18,750

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 July 2020

(26,517

)

Profit for the year

625

At 30 June 2021

(25,892

)