Kings Hair Studios Limited,Ltd - Accounts

Kings Hair Studios Limited,Ltd - Accounts

KINGS HAIR STUDIOS LIMITED - Company Information

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2014-11-01 true false Private Limited Company 04546069 2015-10-31 04546069 2014-11-01 2015-10-31 04546069 2014-10-31 04546069 2013-11-01 2014-10-31 04546069 uk-bus:Director1 2014-11-01 2015-10-31 04546069 uk-gaap:FixturesFittings 2014-11-01 2015-10-31 04546069 uk-bus:OrdinaryShareClass1 2015-10-31 04546069 uk-bus:OrdinaryShareClass2 2015-10-31 iso4217:GBP
Kings Hair Studios Limited
For the year ended 31 October 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04546069
2
Kings Hair Studios Limited
Accountants' Report
For the year ended 31 October 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for
the year ended 31 October 2015 and you consider that the company is exempt from an audit under the
Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and
explanations supplied to us.
Simark & Co
Belmont House
20 King Street
Thetford
Norfolk
IP24 2AP
15 July 2016
Dated:
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Abbreviated Balance Sheet
Kings Hair Studios Limited
As at 31 October 2015
04546069
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
4,135
4,864
4,135
4,864
Current assets
Stocks
11,794
9,293
Debtors
8,849
6,840
Cash at bank and in hand
1,255
50
17,388
20,693
Creditors: amounts falling due within one year
(22,717)
(12,423)
(2,024)
4,965
Net current assets
Total assets less current liabilities
9,100
2,840
(562)
(649)
Provisions for liabilities
8,538
Net assets
2,191
Capital and reserves
Called up share capital
200
3
200
Profit and loss account
8,338
1,991
8,538
2,191
Shareholders funds
For the year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 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.
Date approved by the board: 15 July 2016
Mrs Catherine King Director
Signed on behalf of the board of directors
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Notes to the Abbreviated Financial Statements
Kings Hair Studios Limited
For the year ended 31 October 2015
1 Accounting Policies
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease
term.
Pension Costs
The company operates a defined contribution pension scheme for the benefit of its directors/and
employees. Contributions payable are charged to the profit and loss account in the period in which they
are payable.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has
been approved by the shareholders prior to the balance sheet date.
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
15% Reducing balance
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.
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Notes to the Abbreviated Financial Statements
Kings Hair Studios Limited
For the year ended 31 October 2015
2 Tangible fixed assets
Tangible
fixed assets
Cost or valuation
£
25,231
At 01 November 2014
At 31 October 2015
25,231
Depreciation
20,367
At 01 November 2014
729
Charge for year
21,096
At 31 October 2015
Net book values
At 31 October 2015
4,135
4,864
At 31 October 2014
3 Share capital
Allotted called up and fully paid
2015
2014
£
£
100 Ordinary shares of £1.00 each
100
100
100 Ordinary B shares of £1.00 each
100
100
200
200
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