Ray & Company(Hairdressers sundriesmen - Abbreviated accounts 16.3

REGISTERED NUMBER: 00423769 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2016

for

RAY & COMPANY(HAIRDRESSERS

SUNDRIESMEN) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T G Sliufko

P A G Sliufko

Miss O M Sliufko

C H Sliufko

SECRETARY:

Mrs V A Sliufko

REGISTERED OFFICE:

Trade Hair Supplies

Lingfield Way

Yarm Road Business Park

Darlington

Co. Durham

DL5 6YN

REGISTERED NUMBER:

00423769 (England and Wales)

ACCOUNTANTS:

King Hope

Chartered Accountants

31-33 Victoria Road

Darlington

Co. Durham

DL1 5SB

FIXED ASSETS

Tangible assets

2

427,877

451,658

Investments

3

300

300

428,177

451,958

CURRENT ASSETS

Stocks

910,557

772,903

Debtors

376,117

390,582

Cash at bank and in hand

16,403

35,952

1,303,077

1,199,437

CREDITORS

Amounts falling due within one year

4

750,351

747,986

NET CURRENT ASSETS

552,726

451,451

TOTAL ASSETS LESS CURRENT LIABILITIES

980,903

903,409

CREDITORS

Amounts falling due after more than one year

4

(34,619

)

(56,046

)

PROVISIONS FOR LIABILITIES

(27,205

)

(26,194

)

NET ASSETS

919,079

821,169

CAPITAL AND RESERVES

Called up share capital

5

1,606

1,606

Revaluation reserve

24,498

24,498

Capital redemption reserve

475

475

Profit and loss account

892,500

794,590

SHAREHOLDERS' FUNDS

919,079

821,169

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

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

The directors acknowledge their 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 Board of Directors on 23 January 2017 and were signed on its behalf by:

P A G Sliufko - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Long leasehold

-

Equal instalments over life of lease

Fixtures and fittings

-

25% on cost, 25% on reducing balance and 15% on reducing balance

Motor vehicles

-

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 recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals payable under operating leases are recognised on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for selected employees. Contributions payable for

the year are charged in the profit and loss account.

The company also provides pensions for certain retired employees. These pensions paid during the year are

charged in the profit and loss account.

Freehold land and buildings

No depreciation has been charged as the Directors consider cost to substantially comprise land.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 May 2015

702,808

Additions

53,170

Disposals

(69,836

)

At 30 April 2016

686,142

DEPRECIATION

At 1 May 2015

251,150

Charge for year

42,067

Eliminated on disposal

(34,952

)

At 30 April 2016

258,265

NET BOOK VALUE

At 30 April 2016

427,877

At 30 April 2015

451,658

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2015

and 30 April 2016

300

NET BOOK VALUE

At 30 April 2016

300

At 30 April 2015

300

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Tricogen Laboratories Limited

Country of incorporation: England & Wales

Nature of business: Manufacture of cosmetic products

%

Class of shares:

holding

Ordinary

33.33

2016

2015

£

£

Aggregate capital and reserves

1,603,459

1,259,232

Profit for the year

344,227

207,248

4.

CREDITORS

Creditors include an amount of £ 78,871 (2015 - £ 101,666 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,605

Ordinary A

£1

1,605

1,605

1

Ordinary B

£1

1

1

1,606

1,606