Abbreviated Company Accounts - HAIRTOPIA UNISEX SALON LTD

HAIRTOPIA UNISEX SALON LTD - Company Information

Registered Number NI612960

HAIRTOPIA UNISEX SALON LTD

Abbreviated Accounts

31 May 2015

HAIRTOPIA UNISEX SALON LTD Registered Number NI612960

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	10,246	12,054
		10,246	12,054
Current assets
Stocks		200	200
Cash at bank and in hand		1,943	802
		2,143	1,002
Creditors: amounts falling due within one year		(10,657)	(12,196)
Net current assets (liabilities)		(8,514)	(11,194)
Total assets less current liabilities		1,732	860
Total net assets (liabilities)		1,732	860
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,632	760
Shareholders' funds		1,732	860

For the year ending 31 May 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 26 February 2016

And signed on their behalf by:
Mr W D Pollock, Director

HAIRTOPIA UNISEX SALON LTD Registered Number NI612960

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

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention
The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cashflow statement on the grounds that it is a small company.

Compliance with accounting standards
The financial statements have been prepared on the going concern basis under the historical cost convention, in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principle accounting policies, which have been applied consistently throughout the year, are set out below.

Turnover policy
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment - 15% reducing balance

2Tangible fixed assets

	£
Cost
At 1 June 2014	14,100
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	14,100
Depreciation
At 1 June 2014	2,046
Charge for the year	1,808
On disposals	-
At 31 May 2015	3,854
Net book values
At 31 May 2015	10,246
At 31 May 2014	12,054