Matisse Spirits Company Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC268162 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Matisse Spirits Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

C Sen-Ho

SECRETARY:

J Crilly

REGISTERED OFFICE:

Westpoint

4 Redheughs Rigg

Edinburgh

EH12 9DQ

REGISTERED NUMBER:

SC268162 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

2

3,101

9,050

CURRENT ASSETS

Stocks

45,117

34,936

Debtors

3

858,939

884,385

Cash at bank and in hand

818,033

204,787

1,722,089

1,124,108

CREDITORS

Amounts falling due within one year

966,219

387,008

NET CURRENT ASSETS

755,870

737,100

TOTAL ASSETS LESS CURRENT LIABILITIES

758,971

746,150

PROVISIONS FOR LIABILITIES

620

1,810

NET ASSETS

758,351

744,340

CAPITAL AND RESERVES

Called up share capital

4

250,000

250,000

Profit and loss account

508,351

494,340

SHAREHOLDERS' FUNDS

758,351

744,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 March 2015 and were signed by:

C Sen-Ho - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small

company.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

items.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from

those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result

in a obligation to pay more (or less) tax at a future date, at an average tax rate that are expected to apply when the timing

differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment

to sell the asset.

Deferred tax assets and liabilities are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange

differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

34,860

DEPRECIATION

At 1 January 2014

25,810

Charge for year

5,949

At 31 December 2014

31,759

NET BOOK VALUE

At 31 December 2014

3,101

At 31 December 2013

9,050

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 2,238 (31.12.13 - £ 4,350 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

250,000

Ordinary

£1

250,000

250,000