Leslie Hairdressing Limited - Period Ending 2015-08-31

Registration number: SC383272

Leslie Hairdressing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

Leslie Hairdressing Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Leslie Hairdressing Limited
(Registration number: SC383272)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					105,000			112,000
Tangible fixed assets					24,334			29,125
					129,334			141,125
Current assets
Stocks					9,000			8,000
Debtors					2,456			5,715
Cash at bank and in hand					64,179			28,964
					75,635			42,679
Creditors: Amounts falling due within one year					(83,603)			(82,767)
Net current liabilities					(7,968)			(40,088)
Total assets less current liabilities					121,366			101,037
Provisions for liabilities					(4,867)			(5,825)
Net assets					116,499			95,212
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					116,399			95,112
Shareholders' funds					116,499			95,212

For the year ending 31 August 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 October 2015 and signed on its behalf by:

.........................................
Mr Brian Thomson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Leslie Hairdressing Limited
(Registration number: SC383272)
Abbreviated Balance Sheet at 31 August 2015
......... continued

.........................................
Mr Graeme Thomson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Leslie Hairdressing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Office equipment	33% straight line
Fixtures and fittings	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Leslie Hairdressing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2014		140,000			38,939			178,939
Additions		-			2,820			2,820
At 31 August 2015		140,000			41,759			181,759
Depreciation
At 1 September 2014		28,000			9,814			37,814
Charge for the year		7,000			7,611			14,611
At 31 August 2015		35,000			17,425			52,425
Net book value
At 31 August 2015		105,000			24,334			129,334
At 31 August 2014		112,000			29,125			141,125

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 4