Abbreviated Company Accounts - MAGUIRES BARBERSHOP LIMITED

Abbreviated Company Accounts - MAGUIRES BARBERSHOP LIMITED

MAGUIRES BARBERSHOP LIMITED - Company Information

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Registered Number 06924577

MAGUIRES BARBERSHOP LIMITED

Abbreviated Accounts

31 March 2015

MAGUIRES BARBERSHOP LIMITED Registered Number 06924577

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 990 1,320
Tangible assets 3 701 1,212
1,691 2,532
Current assets
Stocks 128,366 90,226
Debtors 16,713 3,668
Cash at bank and in hand 18,925 3,555
164,004 97,449
Creditors: amounts falling due within one year (164,545) (199,724)
Net current assets (liabilities) (541) (102,275)
Total assets less current liabilities 1,150 (99,743)
Total net assets (liabilities) 1,150 (99,743)
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,148 (99,745)
Shareholders' funds 1,150 (99,743)
  • For the year ending 31 March 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 16 December 2015

And signed on their behalf by:
J Johnson, Director

MAGUIRES BARBERSHOP LIMITED Registered Number 06924577

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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 January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20%SL
Motor vehicles 25% SL

Other accounting policies
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 April 2014 1,650
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 1,650
Amortisation
At 1 April 2014 330
Charge for the year 330
On disposals -
At 31 March 2015 660
Net book values
At 31 March 2015 990
At 31 March 2014 1,320
3Tangible fixed assets
£
Cost
At 1 April 2014 2,555
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 2,555
Depreciation
At 1 April 2014 1,343
Charge for the year 511
On disposals -
At 31 March 2015 1,854
Net book values
At 31 March 2015 701
At 31 March 2014 1,212