AGES Salon Limited - Period Ending 2014-08-31
AGES Salon Limited - Period Ending 2014-08-31
Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
AGES Salon Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AGES Salon Limited
for the Year Ended 31 August 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AGES Salon Limited for the year ended 31 August 2014 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of AGES Salon Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AGES Salon Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AGES Salon Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that AGES Salon Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of AGES Salon Limited. You consider that AGES Salon Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of AGES Salon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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A Shaw & Co. Limited
1 The Pavement
Bushy Park Road
Teddington
Middlesex
TW11 9JE
15 April 2015
AGES Salon Limited
(Registration number: 05167404)
Abbreviated Balance Sheet at 31 August 2014
Note |
2014
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2013
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Shareholders' deficit |
( |
( |
Approved by the director on
2
AGES Salon Limited
(Registration number: 05167404)
Abbreviated Balance Sheet at 31 August 2014
......... continued
.........................................
Mr Attilio Grande
Director
3
AGES Salon Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued
Accounting policies |
Basis of preparation
Going concern
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. Mascolo Limited also provides support in the form of extended supplier credit where necessary. The director considers that it is appropriate to prepare the financial statements on a going concern basis, as he expects the company to be able to trade within the facilities made available.
Turnover
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Franchise costs |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings & equipment |
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Stock
Deferred tax
Hire purchase and leasing
AGES Salon Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued
Financial instruments
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 September 2013 |
6,790 |
129,103 |
135,893 |
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Additions |
- |
1,210 |
1,210 |
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At 31 August 2014 |
6,790 |
130,313 |
137,103 |
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Depreciation |
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At 1 September 2013 |
4,221 |
128,513 |
132,734 |
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Charge for the year |
1,358 |
363 |
1,721 |
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At 31 August 2014 |
5,579 |
128,876 |
134,455 |
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Net book value |
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At 31 August 2014 |
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At 31 August 2013 |
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Debtors |
Debtors includes £3,650 (2013 - £3,650) receivable after more than one year.
Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2014
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2013
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Amounts falling due within one year |
12,842 |
6,104 |
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Amounts falling due after more than one year |
8,048 |
14,495 |
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Total secured creditors |
20,890 |
20,599 |
AGES Salon Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued
Share capital |
Allotted, called up and fully paid shares
2014 |
2013 |
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No. |
£ |
No. |
£ |
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Related party transactions |
Director's advances and credits |
2014 |
2014 |
2013 |
2013 |
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Mr Attilio Grande |
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- |
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406 |
1,126 |