Park Avenue Nails and Beauty Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09062876 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Park Avenue Nails and Beauty Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Andrews

Ms A Keary

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Brsitol

Avon

BS32 4JY

REGISTERED NUMBER:

09062876 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Intangible assets

4

5,000

7,500

Tangible assets

5

3,206

3,872

8,206

11,372

CURRENT ASSETS

Stocks

5,000

3,000

Debtors

6

281

2,954

Cash at bank and in hand

11,362

5,131

16,643

11,085

CREDITORS

Amounts falling due within one year

7

15,360

19,039

NET CURRENT ASSETS/(LIABILITIES)

1,283

(7,954

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,489

3,418

PROVISIONS FOR LIABILITIES

241

289

NET ASSETS

9,248

3,129

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

9,148

3,029

SHAREHOLDERS' FUNDS

9,248

3,129

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 directors acknowledge their 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 Board of Directors on 8 February 2018 and were signed on its behalf by:

B Andrews - Director

Ms A Keary - Director

1.	STATUTORY INFORMATION

Park Avenue Nails and Beauty Limited is a private company, limited by shares , registered in England and

Wales. 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 represents net invoiced sale 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 five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on reducing balance

Computer equipment

-

33.33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

12,500

AMORTISATION

At 1 June 2016

5,000

Amortisation for year

2,500

At 31 May 2017

7,500

NET BOOK VALUE

At 31 May 2017

5,000

At 31 May 2016

7,500

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 June 2016

5,426

328

5,754

Additions

-

126

126

At 31 May 2017

5,426

454

5,880

DEPRECIATION

At 1 June 2016

1,801

81

1,882

Charge for year

725

67

792

At 31 May 2017

2,526

148

2,674

NET BOOK VALUE

At 31 May 2017

2,900

306

3,206

At 31 May 2016

3,625

247

3,872

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Directors' current accounts

-

2,954

Prepayments and accrued income

281

-

281

2,954

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Amounts owed to participating interests

10,796

16,726

Tax

2,696

631

Social security and other taxes

597

481

Directors' current accounts

72

-

Accrued expenses

1,199

1,201

15,360

19,039

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 June 2016

3,029

Profit for the year

10,719

Dividends

(4,600

)

At 31 May 2017

9,148

10.	ULTIMATE CONTROLLING PARTY

This company is controlled by its directors.