STRANDED_WHOLESALE_LIMITE - Accounts

STRANDED HAIR GROUP LIMITED - Company Information

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Company Registration No. 05703536 (England and Wales)

STRANDED WHOLESALE LIMITED

(FORMERLY STRANDS INTERNATIONAL LIMITED)

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

STRANDED WHOLESALE LIMITED

(FORMERLY STRANDS INTERNATIONAL LIMITED)

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

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2014

2013

Notes

Fixed assets

Intangible assets

204,869

Tangible assets

140,483

42,753

345,352

42,753

Current assets

Stocks

2,457,959

2,033,768

Debtors

173,668

142,148

Cash at bank and in hand

259,876

676,593

2,891,503

2,852,509

Creditors: amounts falling due within one year

(773,666)

(835,401)

Net current assets

2,117,837

2,017,108

Total assets less current liabilities

2,463,189

2,059,861

Capital and reserves

Called up share capital

Profit and loss account

2,463,187

2,059,859

Shareholders' funds

2,463,189

2,059,861

For the financial year ended 28 February 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 November 2014

G Howe

Director

Company Registration No. 05703536

STRANDED WHOLESALE LIMITED

(FORMERLY STRANDS INTERNATIONAL LIMITED)

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

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Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 March 2013

70,122

Additions

211,933

140,312

352,245

At 28 February 2014

211,933

210,434

422,367

Depreciation

At 1 March 2013

27,369

Charge for the year

7,064

42,582

49,646

At 28 February 2014

7,064

69,951

77,015

Net book value

At 28 February 2014

204,869

140,483

345,352

At 28 February 2013

42,753

STRANDED WHOLESALE LIMITED

(FORMERLY STRANDS INTERNATIONAL LIMITED)

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

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Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary of £1 each

Ultimate parent company

Control lies with Mr G Howe, director, who owns 100% of the issued share capital of the company.