Contents of the Financial Statements

for the Period Ended 28 February 2018

Company Information

for the Period Ended 28 February 2018

Balance sheet

As at 28 February 2018

The notes form part of these financial statements

Balance sheet continued

As at 28 February 2018

For the year ending 28 February 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 28 February 2018

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents the value, net of any discounts, of goods provided to customers and work carried out in respect of services provided to customers.

  Tangible fixed assets depreciation policy

  Assets that have physical substance and are held for use in the production of goods or services, and are expected to be used during more than one financial year, are classified under Fixed Assets. A tangible fixed asset shall be initially measured at cost.
  
  Given that the assets are equipment, rather than property, used in the delivery of beauty therapy services they have not been revalued but are carried at depreciated historic cost which is believed to be an appropriate basis.
  
  A full year’s depreciation is charged in the year of purchase with no depreciation charged in the year of disposal. Depreciation has been provided at the following rates in order to write off the assets over their useful estimated useful lives:
  
  Equipment 20% straight line

  Other accounting policies

  Stock is carried at the lower of cost or net realisable value. Creditors -where expenditure has been recognised, but cash has not been paid, a creditor for the relevant amount is recorded in the Balance Sheet.

Notes to the Financial Statements

for the Period Ended 28 February 2018

2. Tangible Assets