Lore Hairdressing Ltd - Period Ending 2014-03-31

Registration number: 05246965

Lore Hairdressing Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Burrell Edwards
Chartered Certified Accountants
15a East Street
Southampton
Hampshire
SO14 3HG

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 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					1,059			1,115
Current assets
Stocks					4,835			4,800
Debtors					5,587			1,785
Cash at bank and in hand					2,018			5,967
					12,440			12,552
Creditors: Amounts falling due within one year					(7,794)			(13,590)
Net current assets/(liabilities)					4,646			(1,038)
Net assets					5,705			77
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					5,695			67
Shareholders' funds					5,705			77

For the year ending 31 March 2014 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 9 October 2014

.........................................
Mrs Lorraine C 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 2014
......... 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 April 2008).

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

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Lore Hairdressing Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		3,635			3,635
At 31 March 2014		3,635			3,635
Depreciation
At 1 April 2013		2,520			2,520
Charge for the year		56			56
At 31 March 2014		2,576			2,576
Net book value
At 31 March 2014		1,059			1,059
At 31 March 2013		1,115			1,115

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10

Page 3