M&B Hair and Beauty Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06550914 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2021

for

M&B Hair and Beauty Supplies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Waldren

G S Waldren

SECRETARY:

M D Waldren

REGISTERED OFFICE:

Unit 1, 115 Loverock Road

Reading

Berkshire

RG30 1DZ

REGISTERED NUMBER:

06550914 (England and Wales)

ACCOUNTANTS:

Turner & Co

Chartered Accountants

10a White Hart Parade

London Road

Blackwater

Camberley

Surrey

GU17 9AD

FIXED ASSETS

Tangible assets

4

974

730

CURRENT ASSETS

Stocks

125,682

139,646

Debtors

5

20,458

9,151

Cash at bank and in hand

104,049

18

250,189

148,815

CREDITORS

Amounts falling due within one year

6

131,017

95,024

NET CURRENT ASSETS

119,172

53,791

TOTAL ASSETS LESS CURRENT LIABILITIES

120,146

54,521

CREDITORS

Amounts falling due after more than one year

7

(48,676

)

(10,466

)

PROVISIONS FOR LIABILITIES

(140

)

(140

)

NET ASSETS

71,330

43,915

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

70,330

42,915

SHAREHOLDERS' FUNDS

71,330

43,915

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 4 March 2022 and were signed on its behalf by:

M D Waldren - Director

1.	STATUTORY INFORMATION

M&B Hair and Beauty Supplies Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost, 15% on cost and 10% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2020

13,869

39,409

53,278

Additions

-

551

551

At 30 April 2021

13,869

39,960

53,829

DEPRECIATION

At 1 May 2020

13,869

38,679

52,548

Charge for year

-

307

307

At 30 April 2021

13,869

38,986

52,855

NET BOOK VALUE

At 30 April 2021

-

974

974

At 30 April 2020

-

730

730

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2020

29,888

Transfer to ownership

(29,888

)

At 30 April 2021

-

DEPRECIATION

At 1 May 2020

29,888

Transfer to ownership

(29,888

)

At 30 April 2021

-

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

17,881

8,707

Other debtors

2,577

444

20,458

9,151

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

13,333

22,494

Trade creditors

33,418

30,628

Taxation and social security

41,159

20,367

Other creditors

43,107

21,535

131,017

95,024

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

48,676

10,466

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,333

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank overdraft

-

18,372

Bank loans

62,009

14,588

62,009

32,960

The bank loan and overdraft are secured by a fixed charge over the assets of the business owned now and in the future.

9.	ULTIMATE CONTROLLING PARTY