Abbreviated Company Accounts - TILLY CONFECTIONERY LIMITED

Abbreviated Company Accounts - TILLY CONFECTIONERY LIMITED

Registered Number SC346717


Abbreviated Accounts

31 October 2016


Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,937,067 953,394
1,937,067 953,394
Current assets
Stocks 114,003 58,709
Debtors 594,158 408,761
Cash at bank and in hand 78,004 164,538
786,165 632,008
Creditors: amounts falling due within one year 3 (968,157) (466,668)
Net current assets (liabilities) (181,992) 165,340
Total assets less current liabilities 1,755,075 1,118,734
Creditors: amounts falling due after more than one year 3 (1,341,395) (717,323)
Provisions for liabilities (96,055) (49,226)
Total net assets (liabilities) 317,625 352,185
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 317,525 352,085
Shareholders' funds 317,625 352,185
  • For the year ending 31 October 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 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.

Approved by the Board on 26 April 2017

And signed on their behalf by:
Blair Paterson, Director
Elisabeth Paterson, Director


Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

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

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Plant & machinery 10 or 3 years straight line
Motor vehicles 20% reducing balance
Land & buildings 50 years straight line

Other accounting policies
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.
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.
Foreign Currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.
Hire Purchase and leasing
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2Tangible fixed assets
At 1 November 2015 1,228,953
Additions 1,114,180
Disposals -
Revaluations -
Transfers -
At 31 October 2016 2,343,133
At 1 November 2015 275,559
Charge for the year 130,507
On disposals -
At 31 October 2016 406,066
Net book values
At 31 October 2016 1,937,067
At 31 October 2015 953,394
Secured Debts 815,525 533,491
Instalment debts due after 5 years 334,589 382,491
Non-instalment debts due after 5 years 52,809 47,900
4Called Up Share Capital
Allotted, called up and fully paid:
100Ordinary shares of £1 each 100 100