Abbreviated Company Accounts - OHANAHAIR LIMITED

Registered Number 07391555

OHANAHAIR LIMITED

Abbreviated Accounts

31 May 2016

OHANAHAIR LIMITED Registered Number 07391555

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	1,300	1,600
Tangible assets	3	5,055	5,655
		6,355	7,255
Current assets
Stocks		1,280	1,360
Debtors		1,920	700
Cash at bank and in hand		3,032	13,206
		6,232	15,266
Creditors: amounts falling due within one year		(10,529)	(20,604)
Net current assets (liabilities)		(4,297)	(5,338)
Total assets less current liabilities		2,058	1,917
Provisions for liabilities		(1,011)	(1,131)
Total net assets (liabilities)		1,047	786
Capital and reserves
Called up share capital		100	100
Profit and loss account		947	686
Shareholders' funds		1,047	786

For the year ending 31 May 2016 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 8 August 2016

And signed on their behalf by:
J OHANA, Director

OHANAHAIR LIMITED Registered Number 07391555

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements 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 comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 15% Reducing balance

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10% Straight line

Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Intangible fixed assets

	£
Cost
At 1 June 2015	3,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	3,000
Amortisation
At 1 June 2015	1,400
Charge for the year	300
On disposals	-
At 31 May 2016	1,700
Net book values
At 31 May 2016	1,300
At 31 May 2015	1,600

3Tangible fixed assets

	£
Cost
At 1 June 2015	12,611
Additions	292
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	12,903
Depreciation
At 1 June 2015	6,956
Charge for the year	892
On disposals	-
At 31 May 2016	7,848
Net book values
At 31 May 2016	5,055
At 31 May 2015	5,655