UPPERCUTZ LIMITED - Filleted accounts

UPPERCUTZ LIMITED - Filleted accounts

UPPER CUTZ LTD - Company Information

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Registered number
04569627
UPPERCUTZ LIMITED
Filleted Accounts
31 October 2019
UPPERCUTZ LIMITED
Registered number: 04569627
Balance Sheet
as at 31 October 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 3 713 879
Current assets
Debtors 4 3,800 3,500
Cash at bank and in hand 408 3,369
4,208 6,869
Creditors: amounts falling due within one year 5 (14,526) (17,422)
Net current liabilities (10,318) (10,553)
Net liabilities (9,605) (9,674)
Capital and reserves
Called up share capital 100 100
Profit and loss account (9,705) (9,774)
Shareholders' funds (9,605) (9,674)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
FAWEHINMI EDWARD
Director
Approved by the board on 30 July 2020
UPPERCUTZ LIMITED
Notes to the Accounts
for the year ended 31 October 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by when the haircut is complete.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Going Concern
The company meets its day to day working capital requirements through the support of the director.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support from the director.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2018 14,727
At 31 October 2019 14,727
Depreciation
At 1 November 2018 13,848
Charge for the year 166
At 31 October 2019 14,014
Net book value
At 31 October 2019 713
At 31 October 2018 879
4 Debtors 2019 2018
£ £
Other debtors 3,800 3,500
5 Creditors: amounts falling due within one year 2019 2018
£ £
Taxation and social security costs 535 541
Other creditors 13,991 16,881
14,526 17,422
6 Other information
UPPERCUTZ LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
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