J Veiga Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC252618 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

FOR

J VEIGA LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

2,250

2,500

Tangible assets

3

381

384

2,631

2,884

CURRENT ASSETS

Debtors

68

66

Cash at bank and in hand

4,089

5,070

4,157

5,136

CREDITORS

Amounts falling due within one year

6,829

6,782

NET CURRENT LIABILITIES

(2,672

)

(1,646

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41

)

1,238

PROVISIONS FOR LIABILITIES

76

77

NET (LIABILITIES)/ASSETS

(117

)

1,161

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(118

)

1,160

SHAREHOLDERS' FUNDS

(117

)

1,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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 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 10 December 2014 and were signed by:

Mr J V Veiga - 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 April 2008).

Turnover

Turnover is the amount receivable from the provision of hairdressing services and is recognised when the service

is provided to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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

Computer equipment

-

33% on reducing balance

Deferred tax

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

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

5,000

AMORTISATION

At 1 August 2013

2,500

Amortisation for year

250

At 31 July 2014

2,750

NET BOOK VALUE

At 31 July 2014

2,250

At 31 July 2013

2,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

1,439

Additions

300

Disposals

(380

)

At 31 July 2014

1,359

DEPRECIATION

At 1 August 2013

1,055

Charge for year

132

Eliminated on disposal

(209

)

At 31 July 2014

978

NET BOOK VALUE

At 31 July 2014

381

At 31 July 2013

384

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

1

Ordinary

£1

1

1