Fresh Produce Consultancy Ltd - Period Ending 2016-01-31

Registration number: 04547826

Fresh Produce Consultancy Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

H.B. Associates
As part of Candour Brice Accounts
14 Regal Road
Wisbech
Cambs
PE13 2RQ

Fresh Produce Consultancy Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fresh Produce Consultancy Ltd
for the Year Ended 31 January 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fresh Produce Consultancy Ltd for the year ended 31 January 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Fresh Produce Consultancy Ltd , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Fresh Produce Consultancy Ltd and state those matters that we have agreed to state to them, as a body . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fresh Produce Consultancy Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fresh Produce Consultancy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fresh Produce Consultancy Ltd. You consider that Fresh Produce Consultancy Ltd 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 accounts of Fresh Produce Consultancy Ltd. 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 accounts.

......................................

H.B. Associates
As part of Candour Brice Accounts
14 Regal Road
Wisbech
Cambs
PE13 2RQ

20 April 2016

Page 1

Fresh Produce Consultancy Ltd
(Registration number: 04547826)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					21,000			24,000
Tangible fixed assets					30,690			42,129
					51,690			66,129
Current assets
Debtors					920			1
Cash at bank and in hand					59,887			37,204
					60,807			37,205
Creditors: Amounts falling due within one year					(40,155)			(35,482)
Net current assets					20,652			1,723
Total assets less current liabilities					72,342			67,852
Provisions for liabilities					(6,138)			-
Net assets					66,204			67,852
Capital and reserves
Called up share capital		3			111			111
Profit and loss account					66,093			67,741
Shareholders' funds					66,204			67,852

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 20 April 2016

.........................................
Mr D Norman
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Fresh Produce Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Positive goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Fixtures and fittings	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Fresh Produce Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2015		60,000			172,419			232,419
Disposals		-			(8,995)			(8,995)
At 31 January 2016		60,000			163,424			223,424
Depreciation
At 1 February 2015		36,000			130,290			166,290
Charge for the year		3,000			10,239			13,239
Eliminated on disposals		-			(7,795)			(7,795)
At 31 January 2016		39,000			132,734			171,734
Net book value
At 31 January 2016		21,000			30,690			51,690
At 31 January 2015		24,000			42,129			66,129

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share class 1 of £1 each		100			100			100			100
Ordinary B shares of £1 each		10			10			10			10
Ordinary C shares of £1 each		1			1			1			1
		111			111			111			111

Page 4