Lore Hairdressing Ltd - Period Ending 2016-03-31

Registration number: 05246965

Lore Hairdressing Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Power Accountax Limited
Chartered Certified Accountants
8c High Street
Southampton
Hampshire
SO14 2DH

Lore Hairdressing Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Lore Hairdressing Ltd
(Registration number: 05246965)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,572			1,261
Current assets
Stocks					5,470			4,900
Debtors					95			3,037
Cash at bank and in hand					1,957			5,618
					7,522			13,555
Creditors: Amounts falling due within one year					(8,944)			(11,672)
Net current (liabilities)/assets					(1,422)			1,883
Net assets					150			3,144
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					140			3,134
Shareholders' funds					150			3,144

For the year ending 31 March 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 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 28 September 2016

.........................................
Miss Lorraine Clare Beal
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Lore Hairdressing Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures and fittings	20% reducing balance
Office Equipment	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Lore Hairdressing Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		4,153			4,153
Additions		704			704
At 31 March 2016		4,857			4,857
Depreciation
At 1 April 2015		2,892			2,892
Charge for the year		393			393
At 31 March 2016		3,285			3,285
Net book value
At 31 March 2016		1,572			1,572
At 31 March 2015		1,261			1,261

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Miss Lorraine Clare Beal
The amount owed to the company by the director at the end of the year was	93	-	(972)	-

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