CONWAY_MEN'S_HAIRDRESSING - Accounts

CONWAY MEN'S HAIRDRESSING LIMITED - Company Information

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Company Registration No. SC389360 (Scotland)

CONWAY MEN'S HAIRDRESSING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CONWAY MEN'S HAIRDRESSING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CONWAY MEN'S HAIRDRESSING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

10,215

12,018

Current assets

Stocks

500

Cash at bank and in hand

2,938

3,246

3,438

3,746

Creditors: amounts falling due within one year

(8,773)

(12,268)

Net current liabilities

(5,335)

(8,522)

Total assets less current liabilities

4,880

3,496

Provisions for liabilities

(2,043)

(2,404)

2,837

1,092

Capital and reserves

Called up share capital

100

Profit and loss account

2,737

992

Shareholders' funds

2,837

1,092

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 September 2016

Mr John Conway

Director

Company Registration No. SC389360

CONWAY MEN'S HAIRDRESSING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% reducing balance basis

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

1.5

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

22,328

Depreciation

At 1 January 2015

10,310

Charge for the year

1,803

At 31 December 2015

12,113

Net book value

At 31 December 2015

10,215

At 31 December 2014

12,018

CONWAY MEN'S HAIRDRESSING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100