Abbreviated Company Accounts - SHELLEY KNOWLES HAIRDRESSING LIMITED

SHELLEY KNOWLES HAIRDRESSING LIMITED - Company Information

05332083 SHELLEY KNOWLES HAIRDRESSING LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 05332083 2015-06-01 2016-05-31 05332083 2016-05-31 05332083 2015-05-31 05332083 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 05332083 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:Director3 2015-06-01 2016-05-31 uk-gaap-cd-bus:Director3 2016-05-31 uk-gaap-cd-bus:Director3 2015-05-31 uk-gaap-cd-bus:Director4 2015-06-01 2016-05-31 uk-gaap-cd-bus:Director4 2016-05-31 uk-gaap-cd-bus:Director4 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 05332083

SHELLEY KNOWLES HAIRDRESSING LIMITED

Abbreviated Accounts

31 May 2016

SHELLEY KNOWLES HAIRDRESSING LIMITED Registered Number 05332083

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	-	-
Tangible assets	3	15,564	18,310
		15,564	18,310
Current assets
Stocks		33,080	31,130
Debtors		456	44
Cash at bank and in hand		51	51
		33,587	31,225
Creditors: amounts falling due within one year		(74,656)	(69,476)
Net current assets (liabilities)		(41,069)	(38,251)
Total assets less current liabilities		(25,505)	(19,941)
Total net assets (liabilities)		(25,505)	(19,941)
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		(25,507)	(19,943)
Shareholders' funds		(25,505)	(19,941)

For the year ending 31 May 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 directors acknowledge their 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 Board on 22 February 2017

And signed on their behalf by:
J MUNSLOW, Director

SHELLEY KNOWLES HAIRDRESSING LIMITED Registered Number 05332083

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
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:

Fixtures, fittings and equipment - 15% Reducing Balance

Intangible assets amortisation policy
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives

Other accounting policies
Going Concern
The financial statements have been prepared on a going concern basis. The directors have agreed not to seek repayment of their loan accounts, which are greater than the balance sheet total until the company has sufficient funds to do so.

Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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 indicated that the carrying value may not be recoverable.

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.

2Intangible fixed assets

	£
Cost
At 1 June 2015	15,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	15,000
Amortisation
At 1 June 2015	15,000
Charge for the year	-
On disposals	-
At 31 May 2016	15,000
Net book values
At 31 May 2016	0
At 31 May 2015	0

3Tangible fixed assets

	£
Cost
At 1 June 2015	53,059
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2016	53,059
Depreciation
At 1 June 2015	34,749
Charge for the year	2,746
On disposals	-
At 31 May 2016	37,495
Net book values
At 31 May 2016	15,564
At 31 May 2015	18,310

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2

5Transactions with directors

Name of director receiving advance or credit:	SJ Knowles-Falk
Description of the transaction:	Loan to company
Balance at 1 June 2015:	£ 2,611
Advances or credits made:	£ 360
Advances or credits repaid:	-
Balance at 31 May 2016:	£ 2,971

Name of director receiving advance or credit:	J Munslow
Description of the transaction:	Loan to company
Balance at 1 June 2015:	£ 51,391
Advances or credits made:	£ 3,901
Advances or credits repaid:	£ 4,091
Balance at 31 May 2016:	£ 51,201