C & G BARBERS LTD - Accounts

C & G BARBERS LTD - Accounts

C & G BARBERS LTD - Company Information

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Registered Number: 10661488
England and Wales

 

 

 

C & G BARBERS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

C & G BARBERS LTD
Contents Page
For the year ended 31 March 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Temiz Associates Ltd T-A Temiz & Co Accountant
31 March 2024



....................................................
Temiz Associates Ltd T-A Temiz & Co Accountant
Chartered Public Finance Accountant
73 High Street
Gillingham
Kent
ME7 1BJ
10 May 2024
1
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 7,474    9,085 
7,474    9,085 
Current assets      
Stocks 300    150 
Debtors: amounts falling due within one year 7,708    9,763 
Cash at bank and in hand 1,176    3,404 
9,184    13,317 
Creditors: amount falling due within one year (7,201)   (8,947)
Net current assets 1,983    4,370 
 
Total assets less current liabilities 9,457    13,455 
Creditors: amount falling due after more than one year (3,667)   (7,667)
Net assets 5,790    5,788 
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account 5,690    5,688 
Shareholder's funds 5,790    5,788 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 10 May 2024 and were signed by:


-------------------------------
CENK GOKHAN
Director
2
General Information
C & G BARBERS LTD is a private company, limited by shares, registered in England and Wales, registration number 10661488, registration address 13 HIGH STREET, STROOD , ROCHESTER, KENT, ME2 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
Cost of sales are allocated as FIFO cycle.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Land and Buildings   Total
  £   £   £
At 01 April 2023 16,843    1,200    18,043 
Additions 480    -    480 
Disposals -    -    - 
At 31 March 2024 17,323    1,200    18,523 
Depreciation
At 01 April 2023 8,958    -    8,958 
Charge for year 2,091    -    2,091 
On disposals -    -    - 
At 31 March 2024 11,049    -    11,049 
Net book values
Closing balance as at 31 March 2024 6,274    1,200    7,474 
Opening balance as at 01 April 2023 7,885    1,200    9,085 

The net book value of Land and Buildings includes £ 1,200 (2023 £1,200) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£		   2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£		 2023
£		 2024
£		 2023
£
Cenk Gokhan(7,366)(9,002)7,366 9,002 

Company was under the control of director Cenk Gokhan through out the current financial year. Director owes £7,366 (2022: £9,002) in current financial period.
3