Atlantic Barbering Co. Ltd,Ltd - AccountsLtd - Accounts

Atlantic Barbering Co. Ltd,Ltd - AccountsLtd - Accounts

ATLANTIC BARBERING CO. LTD - Company Information

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2016-08-01 08146987 2017-07-31 08146987 2016-08-01 2017-07-31 08146987 2016-07-31 08146987 2015-08-01 2016-07-31 08146987 uk-core:WithinOneYear 2016-07-31 08146987 uk-core:WithinOneYear 2017-07-31 08146987 uk-core:AfterOneYear 2016-07-31 08146987 uk-core:AfterOneYear 2017-07-31 08146987 uk-core:RetainedEarningsAccumulatedLosses 2017-07-31 08146987 uk-core:RetainedEarningsAccumulatedLosses 2016-07-31 08146987 uk-bus:Director1 2016-08-01 2017-07-31 08146987 uk-core:FurnitureFittings 2016-08-01 2017-07-31 08146987 uk-core:FurnitureFittings 2016-07-31 08146987 uk-core:InvestmentPropertyIncludedWithinPPE 2016-07-31 08146987 uk-core:InvestmentPropertyIncludedWithinPPE 2017-07-31 08146987 uk-core:FurnitureFittings 2017-07-31 08146987 uk-core:InvestmentPropertyIncludedWithinPPE 2016-08-01 2017-07-31 iso4217:GBP 08146987 uk-bus:AuditExemptWithAccountantsReport 2016-08-01 2017-07-31 08146987 uk-bus:FRS102 2016-08-01 2017-07-31 08146987 uk-bus:FullAccounts 2016-08-01 2017-07-31 08146987 uk-bus:PrivateLimitedCompanyLtd 2016-08-01 2017-07-31
Atlantic Barbering Co. Ltd
Registered Number:08146987
For the year ended 31 July 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2017
Atlantic Barbering Co. Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 July 2017
Atlantic Barbering Co. Ltd
Statement of Financial Position
Registered Number :
08146987
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
160,942
161,223
2
160,942
161,223
Current assets
Trade and other receivables
12
-
3
7,298
Cash and cash equivalents
6,093
6,093
7,310
Trade and other payables: amounts falling due within one
year
(4,239)
(4,623)
4
3,071
1,470
Net current assets
Total assets less current liabilities
162,412
164,294
Trade and other payables: amounts falling due after more
than one year
(154,045)
(136,685)
5
(9)
-
Provisions for liabilities
25,718
Net assets
10,249
Capital and reserves
Retained earnings
25,718
10,249
25,718
10,249
Shareholders' funds
For the year ended 31 July 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
Mr Shaun James Wilson Director
These financial statements were approved and authorised for issue by the Board on 14 August 2017 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2017
Atlantic Barbering Co. Ltd
Notes to the Financial Statements
Statutory Information
Atlantic Barbering Co. Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08146987.
Registered address:
27 Fountains Close
Biddick
Washington
Tyne and Wear
NE38 7TA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 July 2017
Atlantic Barbering Co. Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Land and
buildings
£
£
£
Cost or
valuation
At 01 August 2016
162,536
2,436
160,100
At 31 July 2017
160,100
2,436
162,536
Provision for depreciation and impairment
At 01 August 2016
1,313
1,313
-
Charge for year
281
281
-
At 31 July 2017
1,594
1,594
-
At 31 July 2017
Net book value
160,100
842
160,942
At 31 July 2016
160,100
1,123
161,223
3. Trade and other receivables
2016
2017
£
£
Other debtors
-
12
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Taxation and social security
3,939
2,754
Other creditors
684
1,485
4,623
4,239
5. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
136,685
154,045
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