Abbreviated Company Accounts - THE HAIR LOUNGE ROSSETT LIMITED

Abbreviated Company Accounts - THE HAIR LOUNGE ROSSETT LIMITED


Registered Number 07581376

THE HAIR LOUNGE ROSSETT LIMITED

Abbreviated Accounts

31 March 2014

THE HAIR LOUNGE ROSSETT LIMITED Registered Number 07581376

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 4,350 5,800
4,350 5,800
Current assets
Stocks 7,500 6,900
Cash at bank and in hand 45,603 37,397
53,103 44,297
Creditors: amounts falling due within one year (37,407) (34,129)
Net current assets (liabilities) 15,696 10,168
Total assets less current liabilities 20,046 15,968
Total net assets (liabilities) 20,046 15,968
Capital and reserves
Called up share capital 3 3 3
Profit and loss account 20,043 15,965
Shareholders' funds 20,046 15,968
  • For the year ending 31 March 2014 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 3 September 2014

And signed on their behalf by:
D V WILSON, Director
F E CUPIT AND K F CASTELL, Director

THE HAIR LOUNGE ROSSETT LIMITED Registered Number 07581376

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents the amounts due for the work completed during the year and excludes VAT.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 25% reducing balance

Valuation information and policy
Fixed assets

All fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Tangible fixed assets
£
Cost
At 1 April 2013 10,311
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2014 10,311
Depreciation
At 1 April 2013 4,511
Charge for the year 1,450
On disposals -
At 31 March 2014 5,961
Net book values
At 31 March 2014 4,350
At 31 March 2013 5,800
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
3 Ordinary shares of £1 each 3 3