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

REGISTERED NUMBER: 12266576 (England and Wales)

Financial Statements for the Period 16 October 2019 to 31 August 2020

for

Exeter (T) Hairdressing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C F Mascolo

P R Mascolo

REGISTERED OFFICE:

Innovia House Marish Wharf

St Marys Road

Slough

Middlegreen

SL3 6DA

REGISTERED NUMBER:

12266576 (England and Wales)

AUDITORS:

JWR Audit Limited

Picton House

24 Hussar Court

Waterlooville

Hampshire

PO7 7SQ

CURRENT ASSETS

Stocks

3,781

Debtors

4

18,075

Cash at bank and in hand

45,900

67,756

CREDITORS

Amounts falling due within one year

5

100,400

NET CURRENT LIABILITIES

(32,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,644

)

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

(32,744

)

SHAREHOLDERS' FUNDS

(32,644

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 16 April 2021 and were signed on its behalf by:

C F Mascolo - Director

1.	STATUTORY INFORMATION

Exeter (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.

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 period 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 period 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 directors consider 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 period was 25 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

581

Other debtors

17,494

18,075

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

10,958

Amounts owed to group undertakings

29,004

Taxation and social security

46,377

Other creditors

14,061

100,400

6.	LEASING AGREEMENTS

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

£

Within one year

3,225

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

ordinary

£1

100

100 ordinary shares of £1 were issued during the period for cash of £ 100 .

8.	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 JWR Audit Limited

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mascolo Limited.