Toni & Guy (Hertford) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03760331 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2018

for

Toni & Guy (Hertford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Balducci

REGISTERED OFFICE:

9-11 Market Street

Hertford

United Kingdom

Hertfordshire

SG14 1BD

REGISTERED NUMBER:

03760331 (England and Wales)

ACCOUNTANTS:

Styles & Associates Limited

Berkeley House

Amery Street

Alton

Hampshire

GU34 1HN

FIXED ASSETS

Intangible assets

4

2,218

4,663

Tangible assets

5

32,242

47,285

34,460

51,948

CURRENT ASSETS

Stocks

10,000

10,500

Debtors

6

37,648

41,962

Cash at bank and in hand

16,384

27,194

64,032

79,656

CREDITORS

Amounts falling due within one year

7

151,474

146,971

NET CURRENT LIABILITIES

(87,442

)

(67,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(52,982

)

(15,367

)

CREDITORS

Amounts falling due after more than one year

8

10,000

20,000

NET LIABILITIES

(62,982

)

(35,367

)

CAPITAL AND RESERVES

Called up share capital

10

20,000

20,000

Retained earnings

11

(82,982

)

(55,367

)

SHAREHOLDERS' FUNDS

(62,982

)

(35,367

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 31 May 2019 and were signed by:

K Balducci - Director

1.	STATUTORY INFORMATION

Toni & Guy (Hertford) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Franchise Costs are being amortised evenly over their estimated useful life of five years.

Leasehold Cost are being amortised evenly over their 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.

Improvements to property

-

20% on cost

Salon Equipment

-

20% on cost

Fixtures and fittings

-

20% on cost

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.

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.

Going concern

The company meets its day to day working capital requirements through group funding and Mascolo Limited, the

immediate parent company, who also provide ongoing support for the company in the form of extended supplier

credits. The director considers that it is appropriate to prepare the financial statements on a going concern basis

as they expect the company to be able to continue to trade within the facilities made available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2017 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Leasehold

Costs

Cost

Totals

£

£

£

COST

At 1 September 2017

16,115

1,099

17,214

Disposals

(4,990

)

-

(4,990

)

At 31 August 2018

11,125

1,099

12,224

AMORTISATION

At 1 September 2017

11,837

714

12,551

Amortisation for year

2,225

220

2,445

Eliminated on disposal

(4,990

)

-

(4,990

)

At 31 August 2018

9,072

934

10,006

NET BOOK VALUE

At 31 August 2018

2,053

165

2,218

At 31 August 2017

4,278

385

4,663

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Salon

and

property

Equipment

fittings

Totals

£

£

£

£

COST

At 1 September 2017

52,131

249

22,179

74,559

Disposals

(5,951

)

-

(3,960

)

(9,911

)

At 31 August 2018

46,180

249

18,219

64,648

DEPRECIATION

At 1 September 2017

14,725

145

12,404

27,274

Charge for year

9,236

50

2,457

11,743

Eliminated on disposal

(5,951

)

-

(660

)

(6,611

)

At 31 August 2018

18,010

195

14,201

32,406

NET BOOK VALUE

At 31 August 2018

28,170

54

4,018

32,242

At 31 August 2017

37,406

104

9,775

47,285

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

180

-

Other debtors

37,468

41,962

37,648

41,962

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans and overdrafts

18,932

10,000

Trade creditors

105,824

113,245

Taxation and social security

17,202

17,287

Other creditors

9,516

6,439

151,474

146,971

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans

10,000

20,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.18

31.8.17

£

£

Within one year

30,325

30,088

Between one and five years

109,000

109,000

In more than five years

19,892

47,142

159,217

186,230

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.18

31.8.17

value:

£

£

5,200

'A' Ordinary

£1

5,200

5,200

14,800

'B' Ordinary

£1

14,800

14,800

20,000

20,000

11.

RESERVES

Retained

earnings

£

At 1 September 2017

(55,367

)

Deficit for the year

(27,615

)

At 31 August 2018

(82,982

)

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2018 and

31 August 2017:

31.8.18

31.8.17

£

£

K Balducci

Balance outstanding at start of year

3,749

3,124

Amounts advanced

2,926

1,125

Amounts repaid

(2,926

)

(500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,749

3,749

At the balance sheet date the company was owed £3,749 by the director.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Balducci.