The Wright Juice Bar Limited - Period Ending 2016-02-29

Registration number: 07502994

The Wright Juice Bar Limited

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

The Wright Juice Bar Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Wright Juice Bar Limited
(Registration number: 07502994)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					11,120			13,344
Tangible fixed assets					15,699			18,438
					26,819			31,782
Current assets
Stocks					2,200			2,500
Debtors					516			634
Cash at bank and in hand					14,420			18,551
					17,136			21,685
Creditors: Amounts falling due within one year					(6,713)			(8,127)
Net current assets					10,423			13,558
Total assets less current liabilities					37,242			45,340
Creditors: Amounts falling due after more than one year					(39,749)			(49,750)
Net liabilities					(2,507)			(4,410)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(2,508)			(4,411)
Shareholders' deficit					(2,507)			(4,410)

For the year ending 29 February 2016 the company was entitled to exemption from audit 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 directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 30 November 2016 and signed on its behalf by:

Mr N M Wright
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

The Wright Juice Bar Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 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).

Going concern

The company's balance sheet shows an insolvent position. The directors are confident that this postion will be reversed in the future and intend to financially support the company as required. For this reason, the financial statements have been prepared on a going concern basis.

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
Goodwill	Straight line over 10 years

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
Fixtures and fittings	Straight line over 8 years
Office equipment	Straight line over 8 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

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The Wright Juice Bar Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 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 March 2015		22,240			33,110			55,350
Additions		-			1,500			1,500
At 29 February 2016		22,240			34,610			56,850
Depreciation
At 1 March 2015		8,896			14,672			23,568
Charge for the year		2,224			4,239			6,463
At 29 February 2016		11,120			18,911			30,031
Net book value
At 29 February 2016		11,120			15,699			26,819
At 28 February 2015		13,344			18,438			31,782

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

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