Professional Grooming Supplies Limited - Accounts to registrar (filleted) - small 18.2

Professional Grooming Supplies Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 09437137 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

PROFESSIONAL GROOMING SUPPLIES
LIMITED

PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROFESSIONAL GROOMING SUPPLIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: Mr M Jeffery
Mrs LM Jeffery





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU





REGISTERED NUMBER: 09437137 (England and Wales)

PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 961 1,894
Tangible assets 5 12,342 18,859
13,303 20,753

CURRENT ASSETS
Stocks 79,008 67,228
Debtors 6 3,181 3,129
Cash at bank and in hand 283 798
82,472 71,155
CREDITORS
Amounts falling due within one year 7 94,127 90,177
NET CURRENT LIABILITIES (11,655 ) (19,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,648

1,731

PROVISIONS FOR LIABILITIES 1,339 1,595
NET ASSETS 309 136

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 209 36
SHAREHOLDERS' FUNDS 309 136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

BALANCE SHEET - continued
31 MARCH 2018


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 4 November 2018 and were signed on its behalf
by:




Mr M Jeffery - Director



Mrs LM Jeffery - Director


PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

Professional Grooming Supplies 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
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice
value less estimated rebates, returns and settlement discounts. In all cases revenue is recognised when the risks
and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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.

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.


PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


2. ACCOUNTING POLICIES - continued
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.

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method, less any impairment.

CREDITORS
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2017
and 31 March 2018 2,827
AMORTISATION
At 1 April 2017 933
Charge for year 933
At 31 March 2018 1,866
NET BOOK VALUE
At 31 March 2018 961
At 31 March 2017 1,894

PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2017 10,619 15,586 448 26,653
Additions 55 - 234 289
Disposals - (5,258 ) - (5,258 )
At 31 March 2018 10,674 10,328 682 21,684
DEPRECIATION
At 1 April 2017 1,837 5,833 124 7,794
Charge for year 1,326 1,453 84 2,863
Eliminated on disposal - (1,315 ) - (1,315 )
At 31 March 2018 3,163 5,971 208 9,342
NET BOOK VALUE
At 31 March 2018 7,511 4,357 474 12,342
At 31 March 2017 8,782 9,753 324 18,859

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 3,181 3,129

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 13,716 -
Trade creditors 5,206 26,512
Taxation and social security 5,836 1,829
Other creditors 69,369 61,836
94,127 90,177

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

PROFESSIONAL GROOMING SUPPLIES
LIMITED (REGISTERED NUMBER: 09437137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


9. RELATED PARTY DISCLOSURES

The balance owed by the company on the director's loan account of Mr and Mrs Jeffery at 31 March 2018 was
£41,202 (2017 - £58,532).

The loan is interest free and repayable on demand.