Abbreviated Company Accounts - FOSTERS BARBER SHOP LIMITED

Abbreviated Company Accounts - FOSTERS BARBER SHOP LIMITED


Registered Number 07833990

FOSTERS BARBER SHOP LIMITED

Abbreviated Accounts

30 March 2016

FOSTERS BARBER SHOP LIMITED Registered Number 07833990

Abbreviated Balance Sheet as at 30 March 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 3,333 5,333
Tangible assets 3 5,172 5,799
8,505 11,132
Current assets
Stocks 152 302
Cash at bank and in hand 153 1,507
305 1,809
Net current assets (liabilities) 305 1,809
Total assets less current liabilities 8,810 12,941
Creditors: amounts falling due after more than one year (5,861) (9,273)
Total net assets (liabilities) 2,949 3,668
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 2,849 3,568
Shareholders' funds 2,949 3,668
  • For the year ending 30 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 March 2017

And signed on their behalf by:
MR D R Foster, Director

FOSTERS BARBER SHOP LIMITED Registered Number 07833990

Notes to the Abbreviated Accounts for the period ended 30 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery etc - 20% on reducing balance

Intangible assets amortisation policy
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Intangible fixed assets
£
Cost
At 1 April 2015 10,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 March 2016 10,000
Amortisation
At 1 April 2015 4,667
Charge for the year 2,000
On disposals -
At 30 March 2016 6,667
Net book values
At 30 March 2016 3,333
At 31 March 2015 5,333
3Tangible fixed assets
£
Cost
At 1 April 2015 8,563
Additions 666
Disposals -
Revaluations -
Transfers -
At 30 March 2016 9,229
Depreciation
At 1 April 2015 2,764
Charge for the year 1,293
On disposals -
At 30 March 2016 4,057
Net book values
At 30 March 2016 5,172
At 31 March 2015 5,799
4Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100