Honey's Hair & Beauty Salons Limited - Period Ending 2015-08-31

Registration number: 04888829

Honey's Hair & Beauty Salons Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

Honey's Hair & Beauty Salons Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Honey's Hair & Beauty Salons Limited
(Registration number: 04888829)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					5,600			6,300
Tangible fixed assets					31,144			37,504
		2			36,744			43,804
Current assets
Stocks					15,662			9,518
Debtors					1,378			796
Cash at bank and in hand					21,685			33,220
					38,725			43,534
Creditors: Amounts falling due within one year		3			(46,966)			(53,548)
Net current liabilities					(8,241)			(10,014)
Total assets less current liabilities					28,503			33,790
Creditors: Amounts falling due after more than one year					(4,346)			(19,368)
Provisions for liabilities					(793)			(1,286)
Net assets					23,364			13,136
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					23,264			13,036
Shareholders' funds					23,364			13,136

Page 1

Honey's Hair & Beauty Salons Limited
(Registration number: 04888829)
Abbreviated Balance Sheet at 31 August 2015

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 director acknowledges her 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 director on 17 May 2016

S E Priscott Director

Page 2

Honey's Hair & Beauty Salons Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 August 2015

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).

Turnover

Turnover represents amounts receivable for the services provided and goods sold, net of VAT, recognised on delivery of the service and at the point of sale for goods sold.

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 basis

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
Leasehold property	5% straight line basis
Plant and machinery	15% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

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

Honey's Hair & Beauty Salons Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 August 2015

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2014		14,000			145,807			159,807
Additions		-			365			365
Disposals		-			(33,384)			(33,384)
At 31 August 2015		14,000			112,788			126,788
Depreciation
At 1 September 2014		7,700			108,303			116,003
Charge for the year		700			3,048			3,748
Eliminated on disposals		-			(29,707)			(29,707)
At 31 August 2015		8,400			81,644			90,044
Net book value
At 31 August 2015		5,600			31,144			36,744
At 31 August 2014		6,300			37,504			43,804

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		13,550			14,651
Amounts falling due after more than one year		4,346			19,368
Total secured creditors		17,896			34,019

Page 4

Honey's Hair & Beauty Salons Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 August 2015

4	Share capital

Allotted, called up and fully paid shares

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

Page 5