Jane Adams Salon Limited - Period Ending 2016-03-31

Registration number: 04903208

Jane Adams Salon Limited

Unaudited abbreviated accounts

for the year ended 31 March 2016
 

Jane Adams Salon Limited
Contents

Abbreviated balance sheet 1 to 2

Notes to the abbreviated accounts 3 to 4

Jane Adams Salon Limited
(Registration number: 04903208)
Abbreviated balance sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			-			2,000
Tangible fixed assets		2			12,755			13,621
					12,755			15,621
Current assets
Cash at bank and in hand					354			795
Creditors: amounts falling due within one year					(11,846)			(11,722)
Net current liabilities					(11,492)			(10,927)
Net assets					1,263			4,694
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					1,163			4,594
Shareholders' funds					1,263			4,694

The notes on pages 3 to 4 form an integral part of these abbreviated accounts.
Page 1

Jane Adams Salon Limited
(Registration number: 04903208)
Abbreviated balance sheet at 31 March 2016
......... continued

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 15 December 2016

 Ms J E Adams
 Director

The notes on pages 3 to 4 form an integral part of these abbreviated accounts.
Page 2

Jane Adams Salon Limited
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 income received for the use of salon chairs and other facilities.

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	over its estimated useful life of 20 years

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 rate and method
Property improvements	straight line over 50 years
Fixtures, fittings and equipment	10% reducing balance

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 3

Jane Adams Salon Limited
Notes to the abbreviated accounts for the year ended 31 March 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		40,000			24,008			64,008
Disposals		-			(531)			(531)
At 31 March 2016		40,000			23,477			63,477
Depreciation
At 1 April 2015		38,000			10,387			48,387
Charge for the year		2,000			674			2,674
Eliminated on disposals		-			(339)			(339)
At 31 March 2016		40,000			10,722			50,722
Net book value
At 31 March 2016		-			12,755			12,755
At 31 March 2015		2,000			13,621			15,621

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £ 1 each		100			100			100			100

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