Tony Wood Hairdressing Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08620623 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Tony Wood Hairdressing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Liam Bradley Fry

Tony Andrew Wood

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

BUSINESS ADDRESS:

44 Castle Road

Southsea

Portsmouth

Hampshire

PO5 3DE

REGISTERED NUMBER:

08620623 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

23,424

24,577

CURRENT ASSETS

Stocks

5

5,275

6,995

Debtors

6

42,977

54,050

Cash at bank and in hand

11,609

7,030

59,861

68,075

CREDITORS

Amounts falling due within one year

7

65,725

75,039

NET CURRENT LIABILITIES

(5,864

)

(6,964

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,560

17,613

CREDITORS

Amounts falling due after more than one year

8

(12,000

)

(16,000

)

PROVISIONS FOR LIABILITIES

(4,150

)

(4,529

)

NET ASSETS/(LIABILITIES)

1,410

(2,916

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,310

(3,016

)

SHAREHOLDERS' FUNDS

1,410

(2,916

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2018 and were signed on its behalf by:

Tony Andrew Wood - Director

Liam Bradley Fry - Director

1.	STATUTORY INFORMATION

Tony Wood Hairdressing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2016 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 October 2016

32,845

2,500

35,345

Additions

6,657

-

6,657

At 30 September 2017

39,502

2,500

42,002

DEPRECIATION

At 1 October 2016

9,674

1,094

10,768

Charge for year

7,458

352

7,810

At 30 September 2017

17,132

1,446

18,578

NET BOOK VALUE

At 30 September 2017

22,370

1,054

23,424

At 30 September 2016

23,171

1,406

24,577

5.

STOCKS

30.9.17

30.9.16

£

£

Stocks

5,275

6,995

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

-

2,031

Amount owed from associated

company

30,000

46,248

Directors' current accounts

9,672

717

Tax

-

4,142

Prepayments

3,305

912

42,977

54,050

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

11,942

17,389

Corporation tax

1,550

3,981

Social security and other taxes

3,469

15,361

Wages control

16,515

16,440

VAT

27,090

18,318

Directors' current accounts

671

-

Accrued expenses

4,488

3,550

65,725

75,039

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Other loans - 2-5 years

12,000

16,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Other loans

12,000

16,000

The other loan is guaranteed by Tony Andrew Wood the director by way of a retro trading

agreement.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

30 September 2017 and 30 September 2016:

30.9.17

30.9.16

£

£

Tony Andrew Wood

Balance outstanding at start of year

-

18,878

Amounts advanced

(671

)

-

Amounts repaid

-

(18,878

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(671

)

-

Liam Bradley Fry

Balance outstanding at start of year

717

-

Amounts advanced

8,955

717

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,672

717

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Tony Andrew Wood.

13.	GOING CONCERN

There was a net deficiency of assets of £2,916 at the balance sheet date, however the

director Tony Andrew Wood has confirmed continued support of the company so it retains

sufficient working capital to continue trading for the foreseeable future.