Weybridge (T2) Hairdressing Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09109285 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Weybridge (T2) Hairdressing Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Lanzetta

P Peja

REGISTERED OFFICE:

58 - 60 Stamford Street

London

SE1 9LX

REGISTERED NUMBER:

09109285 (England and Wales)

ACCOUNTANTS:

Styles & Associates Limited

Berkeley House

Amery Street

Alton

Hampshire

GU34 1HN

FIXED ASSETS

Intangible assets

2

68,740

80,589

Tangible assets

3

1,095

1,542

69,835

82,131

CURRENT ASSETS

Stocks

1,402

1,848

Debtors

22,677

17,890

Cash at bank and in hand

11,795

28,500

35,874

48,238

CREDITORS

Amounts falling due within one year

54,580

32,055

NET CURRENT (LIABILITIES)/ASSETS

(18,706

)

16,183

TOTAL ASSETS LESS CURRENT
LIABILITIES

51,129

98,314

CREDITORS

Amounts falling due after more than one
year

(50,377

)

(62,377

)

PROVISIONS FOR LIABILITIES

-

(308

)

NET ASSETS

752

35,629

CAPITAL AND RESERVES

Called up share capital

4

40,000

Profit and loss account

(39,248

)

(4,371

)

SHAREHOLDERS' FUNDS

752

35,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 8 May 2017 and were signed on its behalf by:

R Lanzetta - Director

1.	ACCOUNTING POLICIES

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 net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Franchise and leasehold costs

Franchise and leasehold costs and are valued at cost less accumulated amortisation. Amortisation is calculated to

write off the cost in equal annual instalments over the franchise period.

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

-

20% on cost

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The company meets its day to day working capital requirements through group funding and Mascolo Limited, the

immediate parent company, who also provide ongoing support for the company in the form of extended supplier

credits.The directors consider that it is appropriate to prepare the financial statements on a going concern basis

as they expect the company to be able to continue to trade within the facilities made available.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

107,759

Additions

10,589

Disposals

(7,759

)

At 31 August 2016

110,589

AMORTISATION

At 1 September 2015

27,170

Amortisation for year

22,438

Eliminated on disposal

(7,759

)

At 31 August 2016

41,849

NET BOOK VALUE

At 31 August 2016

68,740

At 31 August 2015

80,589

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

1,678

DEPRECIATION

At 1 September 2015

136

Charge for year

447

At 31 August 2016

583

NET BOOK VALUE

At 31 August 2016

1,095

At 31 August 2015

1,542

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

10,400

'A' Ordinary

£1

10,400

20,000

'B' Ordinary

£1

20,000

9,600

'C' Ordinary

£1

9,600

40,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2016 and the period

ended 31 August 2015:

31.8.16

31.8.15

£

R Lanzetta

Balance outstanding at start of year

283

-

Amounts advanced

-

5,073

Amounts repaid

-

(4,790

)

Balance outstanding at end of year

283