The Hairdressing Company (Hitchin) Ltd - Accounts to registrar (filleted) - small 18.2
The Hairdressing Company (Hitchin) Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2018 |
| FOR |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 OCTOBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 OCTOBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Prospero House |
| 46-48 Rothesay Road |
| Luton |
| Bedfordshire |
| LU1 1QZ |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| BALANCE SHEET |
| 31 OCTOBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 OCTOBER 2018 |
| 1. | STATUTORY INFORMATION |
| The Hairdressing Company (Hitchin) Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Going concern |
| The accounts have been prepared on a going concern basis on the grounds that with the support of the directors |
| and the bank, the company should be able to meet its obligations. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| 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 |
| Short leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| The short leasehold is not being depreciated as the directors believe the residual value to be at least the current |
| carrying value in these accounts therefore depreciation would be negligible. The maintenance costs are charged |
| to the profit and loss account in the year incurred. The directors review the estimated residual value at the end of |
| each accounting period. |
| 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. |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 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. |
| 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. |
| 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 profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 November 2017 |
| and 31 October 2018 |
| AMORTISATION |
| At 1 November 2017 |
| Charge for year |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 November 2017 |
| and 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2017 |
| and 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| 6. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other debtors |
| Directors' loan accounts | 11,480 | 12,649 |
| Prepayments |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Taxation and social security |
| Accrued expenses |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdraft |
| 11. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 2,967 | 3,368 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2017 |
| Capital allowances | (401 | ) |
| Balance at 31 October 2018 |
| THE HAIRDRESSING COMPANY (HITCHIN) |
| LIMITED (REGISTERED NUMBER: 07828224) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 OCTOBER 2018 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 October 2018 and |
| 31 October 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 13. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Mr W J Owen and Mrs S J Ali by virtue of their shareholdings. |