Forsyths Hair Ltd. - Period Ending 2016-03-31

Registration number: SC317353

Forsyths Hair Ltd.

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

James Fraser & Co
Chartered Accountants
Barry Business Centre
Barry
Carnoustie
Angus
DD7 7RP

Forsyths Hair Ltd.
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Forsyths Hair Ltd.
(Registration number: SC317353)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					327			409
Current assets
Stocks					100			100
Debtors					11,467			9,436
Cash at bank and in hand					50			50
					11,617			9,586
Creditors: Amounts falling due within one year					(9,227)			(9,351)
Net current assets					2,390			235
Net assets					2,717			644
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					2,716			643
Shareholders' funds					2,717			644

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 his 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 November 2016

.........................................
Mr Sean Forsyth
Director

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

Forsyths Hair 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable 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 method

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.

Page 2

Forsyths Hair Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		20,000			1,982			21,982
At 31 March 2016		20,000			1,982			21,982
Depreciation
At 1 April 2015		20,000			1,573			21,573
Charge for the year		-			82			82
At 31 March 2016		20,000			1,655			21,655
Net book value
At 31 March 2016		-			327			327
At 31 March 2015		-			409			409

3	Share capital

Allotted, called up and fully paid shares

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

Page 3