Taylor Wood Hairdressing Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04712980 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30th April 2016

for

TAYLOR WOOD HAIRDRESSING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Accountants' Report

6

DIRECTOR:

Mrs G H Bennett

SECRETARY:

Ms J Wood

REGISTERED OFFICE:

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

REGISTERED NUMBER:

04712980 (England and Wales)

ACCOUNTANTS:

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

829

406

829

406

CURRENT ASSETS

Stocks

286

3,900

Debtors

21,259

14,232

Cash at bank and in hand

10,496

12,417

32,041

30,549

CREDITORS

Amounts falling due within one year

4

22,138

15,505

NET CURRENT ASSETS

9,903

15,044

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,732

15,450

CREDITORS

Amounts falling due after more than one year

4

(10,000

)

(14,000

)

PROVISIONS FOR LIABILITIES

(166

)

(81

)

NET ASSETS

566

1,369

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

466

1,269

SHAREHOLDERS' FUNDS

566

1,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22nd October 2016 and were signed by:

Mrs G H Bennett - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the going concern basis of accounting.

Accounting convention

The financial statements 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 the value of work carried out during the year, excluding value added tax.

Income is recognised upon completion of the service provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the treatment of

certain items for accounts purposes and their treatment for tax purposes. Tax deferred is accounted for in respect

of all material timing differences. The company has not adopted a policy of discounting deferred tax assets and

liabilities.

Grants

Grants received are allocated to the period in which the relevant expenditure is incurred.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

and 30th April 2016

30,000

AMORTISATION

At 1st May 2015

and 30th April 2016

30,000

NET BOOK VALUE

At 30th April 2016

-

At 30th April 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

4,187

Additions

572

At 30th April 2016

4,759

DEPRECIATION

At 1st May 2015

3,781

Charge for year

149

At 30th April 2016

3,930

NET BOOK VALUE

At 30th April 2016

829

At 30th April 2015

406

4.

CREDITORS

Creditors include an amount of £ 14,000 (30/4/15 - £ 18,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/16

30/4/15

value:

£

100

Ordinary

£1

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2016 and

30th April 2015:

30/4/16

30/4/15

£

Mrs G H Bennett

Balance outstanding at start of year

13,834

-

Amounts advanced

20,990

13,834

Amounts repaid

(13,834

)

-

Balance outstanding at end of year

20,990

13,834

This balance was subject to interest at a rate of 3.25% per annum.

7.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director, Mrs G H Bennett, who holds the majority of the issued share

capital.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Taylor Wood Hairdressing Limited for the year ended 30th April 2016 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Taylor Wood Hairdressing Limited in accordance with the terms of our engagement letter dated 9th July 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Taylor Wood Hairdressing Limited and state those matters that we have agreed to state to the director of Taylor Wood Hairdressing Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Taylor Wood Hairdressing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Taylor Wood Hairdressing Limited. You consider that Taylor Wood Hairdressing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Taylor Wood Hairdressing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

22nd October 2016