Copperfields Hair Studio Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05819641 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

COPPERFIELDS HAIR STUDIO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Cleeve

REGISTERED OFFICE:

4 Spur Road

Cosham

Portsmouth

Hampshire

PO6 3EB

REGISTERED NUMBER:

05819641 (England and Wales)

ACCOUNTANTS:

AMR Bookkeeping & Accounts Limited

4 Spur Road

Cosham

PORTSMOUTH

Hampshire

PO6 3EB

FIXED ASSETS

Intangible assets

4

8,000

12,000

Tangible assets

5

449

561

8,449

12,561

CURRENT ASSETS

Stocks

6

4,858

4,121

Cash at bank

189

516

5,047

4,637

CREDITORS

Amounts falling due within one year

7

6,605

19,265

NET CURRENT LIABILITIES

(1,558

)

(14,628

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,891

(2,067

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

6,890

(2,068

)

SHAREHOLDERS' FUNDS

6,891

(2,067

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 September 2017 and were signed by:

Mr J Cleeve - Director

1.	STATUTORY INFORMATION

Copperfields Hair Studio Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Tooling and development

-

20% on reducing balance

Office Equipment

-

20% on reducing balance

Stocks

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

items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

20,000

AMORTISATION

At 1 June 2016

8,000

Amortisation for year

4,000

At 31 May 2017

12,000

NET BOOK VALUE

At 31 May 2017

8,000

At 31 May 2016

12,000

5.	TANGIBLE FIXED ASSETS

Tooling

and

Office

development

Equipment

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

419

2,961

3,380

DEPRECIATION

At 1 June 2016

84

2,735

2,819

Charge for year

67

45

112

At 31 May 2017

151

2,780

2,931

NET BOOK VALUE

At 31 May 2017

268

181

449

At 31 May 2016

335

226

561

6.

STOCKS

31.5.17

31.5.16

£

£

Stocks

4,858

4,121

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Tax

1

1

Social security and other taxes

27

-

Other creditors

876

876

Directors' current accounts

5,701

18,388

6,605

19,265