Body Art Piercing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC206245 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

BODY ART PIERCING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J B R McKenzie

SECRETARY:

Www.firstregistrars.co.uk Limited

REGISTERED OFFICE:

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

REGISTERED NUMBER:

SC206245 (Scotland)

ACCOUNTANTS:

Firstax Limited

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

CURRENT ASSETS

Stocks

5

450

503

Debtors

6

8,983

9,460

Cash at bank and in hand

759

1,131

10,192

11,094

CREDITORS

Amounts falling due within one year

7

(15,110

)

(16,730

)

NET CURRENT LIABILITIES

(4,918

)

(5,636

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,918

)

(5,636

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(5,018

)

(5,736

)

SHAREHOLDERS' FUNDS

(4,918

)

(5,636

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 February 2018 and were signed by:

Mr J B R McKenzie - Director

1.	STATUTORY INFORMATION

Body Art Piercing Limited is a private company, limited by shares , registered in Scotland. The company's registered number and

registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and

other sales taxes.

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

-

25% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

210

20

230

DEPRECIATION

At 1 June 2016

and 31 May 2017

210

20

230

NET BOOK VALUE

At 31 May 2017

-

-

-

At 31 May 2016

-

-

-

5.

STOCKS

2017

2016

£

£

Stocks

450

503

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Inter company loan

7,637

7,935

Deferred tax asset

1,346

1,525

8,983

9,460

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

89

89

Tax

-

(496

)

Social security and other taxes

65

56

Other creditors

198

156

Directors' loan accounts

14,696

16,620

Accrued expenses

62

305

15,110

16,730

8.	DEFERRED TAX

£

Balance at 1 June 2016

(1,525

)

Provided during year

179

Balance at 31 May 2017

(1,346

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 June 2016

(5,736

)

Profit for the year

718

At 31 May 2017

(5,018

)

11.	RELATED PARTY DISCLOSURES

At 31st May 2017, the company owed Mr J McKenzie (Director) £14,696 (2016: £16,620) and is included in creditors. This loan is

interest free and has no fixed date for repayment.

Fullworks (Ayrshire) Limited (SC206243) and Body Art Piercing Limited are related by virtue of common control.

At 31st May 2017, Fullworks (Ayrshire) Limited owed Body Art Piercing Ltd £7,637 (2016: £7,935). The loan is interest free and

has no fixed date for repayment.

12.	ULTIMATE CONTROLLING PARTY

Body Art Piercing Limited was under the ultimate control of Mr J McKenzie (Director) for the whole of the year to 31st May 2017.