Oncore Foodservice Solutions Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04471025 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Oncore Foodservice Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr RJ Coupe

Mr MA Lawson

Mr GA Patterson

Mr CP Jackson

SECRETARY:

Mrs TS Coupe

REGISTERED OFFICE:

Millennium City Park

Millennium Road

Preston

Lancashire

PR2 5BL

REGISTERED NUMBER:

04471025 (England and Wales)

ACCOUNTANTS:

Towers + Gornall Ltd

Chartered Certified Accountants

Abacus House

The Ropewalk

Garstang

Preston

Lancashire

PR3 1NS

BANKERS:

National Westminster Bank PLC

8 Berry Lane

Longridge

Preston

Lancashire

PR3 3LB

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

231,112

291,698

Investments

4

100

100

231,212

291,798

CURRENT ASSETS

Stocks

247,889

268,217

Debtors

682,268

735,635

Investments

7,500

7,500

Cash at bank

62,592

9,044

1,000,249

1,020,396

CREDITORS

Amounts falling due within one year

5

773,614

824,670

NET CURRENT ASSETS

226,635

195,726

TOTAL ASSETS LESS CURRENT LIABILITIES

457,847

487,524

CREDITORS

Amounts falling due after more than one year

5

(39,379

)

(86,952

)

PROVISIONS FOR LIABILITIES

(15,848

)

(25,027

)

NET ASSETS

402,620

375,545

CAPITAL AND RESERVES

Called up share capital

6

100

100

Profit and loss account

402,520

375,445

SHAREHOLDERS' FUNDS

402,620

375,545

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 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 Board of Directors on 9 July 2014 and were signed on its behalf by:

Mr RJ Coupe - 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).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and equipment

-

15% on reducing balance and 10% on cost

Motor vehicles

-

25% on reducing balance

Office 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 is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Debtors

Certain specified trade debtors are assigned to an invoice financing company which offers a credit facility

whereby the company may draw a percentage of the book value debts. The invoice financing company does not

underwrite the debts and therefore the gross amount due to the invoice financing company is shown as a

creditor and the full amount due from the trade debtors is separately disclosed.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

70,000

AMORTISATION

At 1 April 2013

and 31 March 2014

70,000

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

707,763

Additions

15,250

At 31 March 2014

723,013

DEPRECIATION

At 1 April 2013

416,065

Charge for year

75,836

At 31 March 2014

491,901

NET BOOK VALUE

At 31 March 2014

231,112

At 31 March 2013

291,698

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2013

and 31 March 2014

100

NET BOOK VALUE

At 31 March 2014

100

At 31 March 2013

100

The company's investments at the balance sheet date in the share capital of companies include the following:

Robert Coupe Ltd

Nature of business: Wholesale and preparation of fresh produce

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

-

14,976

Profit for the year

-

14,876

Robert Coupe Limited, trading as All Fresh Produce, appointed a liquidator on 19th June 2014 hence there are

no figures available for 2014.

5.

CREDITORS

Creditors include an amount of £ 381,528 (2013 - £ 456,298 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

1

100

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2014 and

31 March 2013:

2014

2013

£

£

Mr RJ Coupe

Balance outstanding at start of year

219,014

223,203

Amounts repaid

(22,312

)

(4,189

)

Balance outstanding at end of year

196,702

219,014

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr RJ Coupe.