TYNESIDE FOODSERVICE LIMITED Financial Accounts

Transcription

1 Company Registration No (England and Wales) UNAUDITED ABBREVIATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2015

2 CONTENTS Page Abbreviated balance sheet 1-2 Notes to the abbreviated accounts 3-4

3 ABBREVIATED BALANCE SHEET AS AT 28 FEBRUARY Notes Fixed assets Tangible assets 2 882, ,394 Investments 2 16,140 13, , ,534 Current assets Stocks 417, ,637 Debtors 842, ,188 Cash at bank and in hand 681, ,688 1,941,583 1,899,513 Creditors: amounts falling due within one year (1,073,051) (1,153,708) Net current assets 868, ,805 Total assets less current liabilities 1,767,064 1,608,339 Provisions for liabilities (18,149) (18,119) 1,748,915 1,590,220 Capital and reserves Called up share capital 3 10,000 10,000 Profit and loss account 1,738,915 1,580,220 Shareholders' funds 1,748,915 1,590,

4 ABBREVIATED BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2015 For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their 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 25 November 2015 S Walton Director Company Registration No

5 NOTES TO THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 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 Compliance with accounting standards The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). 1.3 Turnover Turnover represents amounts receivable for goods and services net of VAT and trade discounts. 1.4 Tangible fixed assets and depreciation Tangible fixed assets other than freehold land 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: Land and buildings Freehold Fixtures, fittings & equipment Motor vehicles 2% reducing balance 25% reducing balance 25% reducing balance 1.5 Leasing Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 1.6 Investments Fixed asset investments are stated at cost less provision for diminution in value. 1.7 Stock Stock is valued at the lower of cost and net realisable value. 1.8 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. 1.9 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

6 NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY Fixed assets Tangible assets Investments Total Cost At 1 March ,053,521 13,140 2,066,661 Additions 81,015 3,000 84,015 At 28 February ,134,536 16,140 2,150,676 Depreciation At 1 March ,204,127-1,204,127 Charge for the period 48,017-48,017 At 28 February ,252,144-1,252,144 Net book value At 28 February ,392 16, ,532 At 28 February ,394 13, ,534 3 Share capital Allotted, called up and fully paid 10,000 ordinary shares of 1 each 10,000 10,

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