O J's Salon Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09277649 (England and Wales)

O J'S SALON LIMITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD

1 NOVEMBER 2015 TO 30 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs R L Chand

REGISTERED OFFICE:

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

REGISTERED NUMBER:

09277649 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Intangible assets

2

-

2,500

CURRENT ASSETS

Stocks

100

350

Cash at bank and in hand

895

755

995

1,105

CREDITORS

Amounts falling due within one year

22,164

14,138

NET CURRENT LIABILITIES

(21,169

)

(13,033

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,169

)

(10,533

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(21,269

)

(10,633

)

SHAREHOLDERS' FUNDS

(21,169

)

(10,533

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 October 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 11 January 2018 and were signed by:

Mrs R L Chand - 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 gross invoiced sales of goods and services.

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 two years.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 30 October 2016

5,000

AMORTISATION

At 1 November 2015

2,500

Amortisation for period

2,500

At 30 October 2016

5,000

NET BOOK VALUE

At 30 October 2016

-

At 31 October 2015

2,500

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

4.	GOING CONCERN

The director considers that in her opinion the preparation of the financial statements on the going concern basis

is appropriate, and the director continues to give her full financial support.