La Maison des Sorbets Foods Limited 31/07/2018 iXBRL

La Maison des Sorbets Foods Limited 31/07/2018 iXBRL

LA MAISON DES SORBETS FOODS LIMITED - Company Information

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Company registration number: 02940485
La Maison des Sorbets Foods Limited
Unaudited filleted financial statements
31 July 2018
La Maison des Sorbets Foods Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
La Maison des Sorbets Foods Limited
Directors and other information
Director C Hilder
Secretary S R Fernando
Company number 02940485
Registered office 9 Gateway Industrial Estate
Hythe Road
London
NW10 6RJ
Accountants Pink Accounting Resources Ltd
La Maison des Sorbets Foods Limited
Accountant's report to the director on the preparation of the
unaudited statutory financial statements of La Maison des Sorbets Foods Limited
Year ended 31 July 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of La Maison des Sorbets Foods Limited for the year ended 31 July 2018 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director of La Maison des Sorbets Foods Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of La Maison des Sorbets Foods Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than La Maison des Sorbets Foods Limited and its director as a body for our work or for this report.
It is your duty to ensure that La Maison des Sorbets Foods Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of La Maison des Sorbets Foods Limited. You consider that La Maison des Sorbets Foods Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of La Maison des Sorbets Foods Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Pink Accounting Resources Ltd
8 March 2019
La Maison des Sorbets Foods Limited
Statement of financial position
31 July 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 214,856 230,452
_______ _______
214,856 230,452
Current assets
Stocks 72,373 72,895
Debtors 6 142,804 174,167
Cash at bank and in hand 16,811 10,960
_______ _______
231,988 258,022
Creditors: amounts falling due
within one year 7 ( 214,700) ( 253,700)
_______ _______
Net current assets 17,288 4,322
_______ _______
Total assets less current liabilities 232,144 234,774
Creditors: amounts falling due
after more than one year 8 ( 4,243) ( 11,701)
Provisions for liabilities ( 14,996) ( 14,746)
_______ _______
Net assets 212,905 208,327
_______ _______
Capital and reserves
Called up share capital 120,000 120,000
Profit and loss account 92,905 88,327
_______ _______
Shareholders funds 212,905 208,327
_______ _______
For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 March 2019 , and are signed on behalf of the board by:
C Hilder
Director
Company registration number: 02940485
La Maison des Sorbets Foods Limited
Statement of changes in equity
Year ended 31 July 2018
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2016 120,000 68,714 188,714
Profit for the year 24,613 24,613
_______ _______ _______
Total comprehensive income for the year - 24,613 24,613
Dividends paid and payable ( 5,000) ( 5,000)
_______ _______ _______
Total investments by and distributions to owners - ( 5,000) ( 5,000)
_______ _______ _______
At 31 July 2017 and 1 August 2017 120,000 88,327 208,327
Profit for the year 6,578 6,578
_______ _______ _______
Total comprehensive income for the year - 6,578 6,578
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 31 July 2018 120,000 92,905 212,905
_______ _______ _______
La Maison des Sorbets Foods Limited
Notes to the financial statements
Year ended 31 July 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Gateway Industrial Estate, Hythe Road, London, NW10 6RJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, and are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Defined Pension contributionContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2017: 16 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2017 576,298 71,936 1,100 649,334
Additions 9,717 - - 9,717
Disposals ( 81,170) ( 50,159) - ( 131,329)
_______ _______ _______ _______
At 31 July 2018 504,845 21,777 1,100 527,722
_______ _______ _______ _______
Depreciation
At 1 August 2017 347,969 69,930 983 418,882
Charge for the year 23,754 401 117 24,272
Disposals ( 80,129) ( 50,159) - ( 130,288)
_______ _______ _______ _______
At 31 July 2018 291,594 20,172 1,100 312,866
_______ _______ _______ _______
Carrying amount
At 31 July 2018 213,251 1,605 - 214,856
_______ _______ _______ _______
At 31 July 2017 228,329 2,006 117 230,452
_______ _______ _______ _______
6. Debtors
2018 2017
£ £
Trade debtors 129,090 160,862
Other debtors 13,714 13,305
_______ _______
142,804 174,167
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 105,553 108,104
Corporation tax 7,587 7,846
Social security and other taxes 56,742 32,407
Other creditors 44,818 105,343
_______ _______
214,700 253,700
_______ _______
8. Creditors: amounts falling due after more than one year
2018 2017
£ £
Other creditors 4,243 11,701
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
C Hilder ( 69,000) 38,000 ( 31,000)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
C Hilder ( 111,000) 42,000 ( 69,000)
_______ _______ _______
10. Controlling party
The company was under the control of Miss C Hilder throughout the current and previous year.