Honey's Hair & Beauty Salons Limited - Period Ending 2016-08-31

Registration number: 04888829

Honey's Hair & Beauty Salons Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

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 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					4,900			5,600
Tangible fixed assets					31,666			31,144
		2			36,566			36,744
Current assets
Stocks					18,252			15,662
Debtors					1,546			1,378
Cash at bank and in hand					11,780			21,685
					31,578			38,725
Creditors: Amounts falling due within one year		3			(41,700)			(46,966)
Net current liabilities					(10,122)			(8,241)
Total assets less current liabilities					26,444			28,503
Creditors: Amounts falling due after more than one year					-			(4,346)
Provisions for liabilities					(1,419)			(793)
Net assets					25,025			23,364
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					24,925			23,264
Shareholders' funds					25,025			23,364

Page 1

Honey's Hair & Beauty Salons Limited
(Registration number: 04888829)
Abbreviated Balance Sheet at 31 August 2016

For the year ending 31 August 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 16 November 2016

S E Priscott Director

Page 2

Honey's Hair & Beauty Salons Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 August 2016

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 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 2016

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 2015		14,000			112,788			126,788
Additions		-			4,200			4,200
At 31 August 2016		14,000			116,988			130,988
Depreciation
At 1 September 2015		8,400			81,644			90,044
Charge for the year		700			3,678			4,378
At 31 August 2016		9,100			85,322			94,422
Net book value
At 31 August 2016		4,900			31,666			36,566
At 31 August 2015		5,600			31,144			36,744

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		-			13,550
Amounts falling due after more than one year		-			4,346
Total secured creditors		-			17,896

Page 4

Honey's Hair & Beauty Salons Limited
Notes to the Abbreviated Accounts
For the Year Ended 31 August 2016

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
99 A Ordinary shares of £1 each		99			99			100			100
1 B Ordinary shares of £1 (2015 - £0.00) each		1			1			-			-
		100			100			100			100

Page 5