| Frank's Luxury Biscuit Company Limited |
|
| Report to the directors on the preparation of the unaudited abbreviated accounts of Frank's Luxury Biscuit Company Limited for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Frank's Luxury Biscuit Company Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ |
| This report is made solely to the Board of Directors of Frank's Luxury Biscuit Company Limited, as a body, in accordance with the terms of our engagement letter dated 30 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of Frank's Luxury Biscuit Company Limited and state those matters that we have agreed to state to the Board of Directors of Frank's Luxury Biscuit Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frank's Luxury Biscuit Company Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Frank's Luxury Biscuit Company Limited 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 Frank's Luxury Biscuit Company Limited. You consider that Frank's Luxury Biscuit Company 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 accounts of Frank's Luxury Biscuit Company 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 abbreviated accounts. |
|
| Cornthwaite & Co |
| Chartered Certified Accountants |
| White Barns |
| La Route des Landes |
| St. Ouen |
| Jersey |
| JE3 2AA |
|
| 5 December 2016 |
|
| Frank's Luxury Biscuit Company Limited |
| Registered number: |
05768135 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
75,000 |
|
|
82,500 |
| Tangible assets |
3 |
|
|
47,834 |
|
|
10,198 |
|
|
|
|
122,834 |
|
|
92,698 |
|
| Current assets |
| Stocks |
|
|
32,226 |
|
|
36,403 |
| Debtors |
|
|
51,461 |
|
|
46,591 |
| Cash at bank and in hand |
|
|
968 |
|
|
531 |
|
|
|
84,655 |
|
|
83,525 |
|
| Creditors: amounts falling due within one year |
|
|
(129,949) |
|
|
(114,191) |
|
| Net current liabilities |
|
|
|
(45,294) |
|
|
(30,666) |
|
| Total assets less current liabilities |
|
|
|
77,540 |
|
|
62,032 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(13,228) |
|
|
(20,073) |
|
|
|
| Net assets |
|
|
|
64,312 |
|
|
41,959 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
15,287 |
|
|
(1,301) |
| Shareholders' loans |
|
|
|
48,925 |
|
|
43,160 |
|
| Shareholders' funds |
|
|
|
64,312 |
|
|
41,959 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr. F. Cornthwaite |
| Director |
| Approved by the board on 5 December 2016 |
|
| Frank's Luxury Biscuit Company Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% reducing balance |
|
Motor vehicles |
33% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
150,000 |
|
At 31 March 2016 |
150,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
67,500 |
|
Provided during the year |
7,500 |
|
At 31 March 2016 |
75,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
75,000 |
|
At 31 March 2015 |
82,500 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
59,093 |
|
Additions |
50,270 |
|
At 31 March 2016 |
109,363 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
48,895 |
|
Charge for the year |
12,634 |
|
At 31 March 2016 |
61,529 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
47,834 |
|
At 31 March 2015 |
10,198 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
