Fleet (T) Hairdressing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04510686 (England and Wales)

Financial Statements for the Year Ended 31 August 2018

for

Fleet (T) Hairdressing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T E Avory

N Hall

REGISTERED OFFICE:

Innovia House, Marish Wharf,

St Marys Road, Middlegreen

Slough

Berkshire

SL3 6DA

REGISTERED NUMBER:

04510686 (England and Wales)

AUDITORS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Intangible assets

4

866

2,136

Tangible assets

5

11,793

17,428

12,659

19,564

CURRENT ASSETS

Stocks

3,607

2,684

Debtors

6

14,912

17,348

Cash at bank and in hand

54,339

47,768

72,858

67,800

CREDITORS

Amounts falling due within one year

7

47,158

55,033

NET CURRENT ASSETS

25,700

12,767

TOTAL ASSETS LESS CURRENT LIABILITIES

38,359

32,331

PROVISIONS FOR LIABILITIES

970

1,854

NET ASSETS

37,389

30,477

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

37,289

30,377

SHAREHOLDERS' FUNDS

37,389

30,477

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 Board of Directors on 31 January 2019 and were signed on its behalf by:

N Hall - Director

1.	STATUTORY INFORMATION

Fleet (T) Hairdressing 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.

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

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Costs

£

COST

At 1 September 2017

and 31 August 2018

6,350

AMORTISATION

At 1 September 2017

4,214

Amortisation for year

1,270

At 31 August 2018

5,484

NET BOOK VALUE

At 31 August 2018

866

At 31 August 2017

2,136

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2017

and 31 August 2018

167,672

DEPRECIATION

At 1 September 2017

150,244

Charge for year

5,635

At 31 August 2018

155,879

NET BOOK VALUE

At 31 August 2018

11,793

At 31 August 2017

17,428

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Other debtors

14,912

17,348

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade creditors

8,254

14,561

Amounts owed to group undertakings

3,359

-

Taxation and social security

19,599

17,844

Other creditors

15,946

22,628

47,158

55,033

8.	LEASING AGREEMENTS

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

31.8.18

31.8.17

£

£

Within one year

19,696

10,833

Between one and five years

-

26,000

19,696

36,833

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.18

31.8.17

value:

£

£

NIL

'A' Ordinary

£1

-

56

NIL

'B' Ordinary

£1

-

20

NIL

'C' Ordinary

£1

-

24

100

Ordinary

£1

100

-

100

100

10.

RESERVES

Retained

earnings

£

At 1 September 2017

30,377

Profit for the year

10,412

Dividends

(3,500

)

At 31 August 2018

37,289

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)

for and on behalf of Johnston Wood Roach Limited

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S M Mascolo-Tarbuck.