Sesh Hairdressing Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC274143 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2016

for

Sesh Hairdressing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Simon Hill

REGISTERED OFFICE:

50-52 Bernard Street

Edinburgh

EH6 6PR

REGISTERED NUMBER:

SC274143 (Scotland)

ACCOUNTANTS:

Steedman & Company Limited

7 Howe Street

Edinburgh

Midlothian

EH3 6TE

FIXED ASSETS

Tangible assets

2

4,245

5,306

CURRENT ASSETS

Stocks

5,559

5,559

Cash at bank

8,431

4,704

13,990

10,263

CREDITORS

Amounts falling due within one year

3

30,864

44,539

NET CURRENT LIABILITIES

(16,874

)

(34,276

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,629

)

(28,970

)

CREDITORS

Amounts falling due after more than one year

4

28,330

60,330

NET LIABILITIES

(40,959

)

(89,300

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Profit and loss account

7

(40,960

)

(89,301

)

SHAREHOLDERS' FUNDS

(40,959

)

(89,300

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 July 2017 and were signed by:

Simon Hill - 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, 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.

Plant and machinery etc

-

20% 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.

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.

2.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2015

and 31 October 2016

93,916

DEPRECIATION

At 1 November 2015

88,610

Charge for year

1,061

At 31 October 2016

89,671

NET BOOK VALUE

At 31 October 2016

4,245

At 31 October 2015

5,306

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

£

Bank loans and overdrafts

294

15,749

Trade creditors

4,889

6,541

Taxation and social security

11,304

15,911

Other creditors

14,377

6,338

30,864

44,539

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.16

31.10.15

£

£

Other creditors

28,330

60,330

5.

LOANS

An analysis of the maturity of loans is given below:

31.10.16

31.10.15

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

294

15,749

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

£

1

Ordinary

1

1

1

7.

RESERVES

Profit

and loss

account

£

At 1 November 2015

(89,301

)

Profit for the year

48,341

At 31 October 2016

(40,960

)