Bar.None (Salons) Limited - Accounts to registrar (filleted) - small 23.1.2

Bar.None (Salons) Limited

Financial Statements for the Period 13 April 2021 to 30 April 2022

DIRECTOR:

J D Shipman

REGISTERED OFFICE:

Unit 33 Flex Business Park

Western Trading Estate

Caerphilly

CF83 1BE

REGISTERED NUMBER:

13331653 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bar.None (Salons) Limited for the period ended 30 April 2022 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bar.None (Salons) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bar.None (Salons) Limited and state those matters that we have agreed to state to the director of Bar.None (Salons) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bar.None (Salons) Limited and its director for our work or for this report.

It is your duty to ensure that Bar.None (Salons) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bar.None (Salons) Limited. You consider that Bar.None (Salons) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Bar.None (Salons) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

12 May 2023

FIXED ASSETS

Intangible assets

3

36,947

Tangible assets

4

33,126

70,073

CURRENT ASSETS

Stocks

7,083

Debtors

5

8,800

Cash at bank and in hand

3,052

18,935

CREDITORS

Amounts falling due within one year

6

80,207

NET CURRENT LIABILITIES

(61,272

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,801

CREDITORS

Amounts falling due after more than one year

7

100,000

NET LIABILITIES

(91,199

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(91,299

)

(91,199

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2023 and were signed by:

J D Shipman - Director

1.	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.

The accounts have been prepared on a going concern basis as the company has the ongoing support of the director and his associated companies who are the main creditors.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

25% straight line

Computer equipment

-

25% straight line

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 period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 period 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.

Pension costs

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

3.	INTANGIBLE FIXED ASSETS

Goodwill

Website

Totals

£

£

£

COST

Additions

38,830

2,000

40,830

At 30 April 2022

38,830

2,000

40,830

AMORTISATION

Amortisation for period

3,883

-

3,883

At 30 April 2022

3,883

-

3,883

NET BOOK VALUE

At 30 April 2022

34,947

2,000

36,947

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

41,361

1,286

42,647

At 30 April 2022

41,361

1,286

42,647

DEPRECIATION

Charge for period

9,239

282

9,521

At 30 April 2022

9,239

282

9,521

NET BOOK VALUE

At 30 April 2022

32,122

1,004

33,126

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors & prepayments

8,800

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

11,045

Taxes & social security costs

9,487

Other creditors & accruals

59,675

80,207

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

100,000