Forsyths Hair Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC317353 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

FORSYTHS HAIR LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Forsyth

REGISTERED OFFICE:

11 Panbride Road

Carnoustie

Angus

DD7 6HS

REGISTERED NUMBER:

SC317353 (Scotland)

ACCOUNTANTS:

James Fraser & Co.

Barry Business Centre

Main Street

Barry

Angus

DD7 7RP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

197

262

197

262

CURRENT ASSETS

Stocks

100

100

Debtors

6

12,738

12,592

Cash in hand

50

50

12,888

12,742

CREDITORS

Amounts falling due within one year

7

10,885

9,897

NET CURRENT ASSETS

2,003

2,845

TOTAL ASSETS LESS CURRENT LIABILITIES

2,200

3,107

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,199

3,106

2,200

3,107

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 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 9 November 2018 and were signed by:

S Forsyth - Director

1.	STATUTORY INFORMATION

Forsyths Hair Ltd. 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.

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.

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.

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 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

20,000

AMORTISATION

At 1 April 2017

and 31 March 2018

20,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

1,982

DEPRECIATION

At 1 April 2017

1,720

Charge for year

65

At 31 March 2018

1,785

NET BOOK VALUE

At 31 March 2018

197

At 31 March 2017

262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

12,738

12,592

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,619

2,958

Taxation and social security

4,869

3,542

Other creditors

3,397

3,397

10,885

9,897