| Fresh T Limited |
| Notes to the Accounts |
| for the year ended 30 June 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Going Concern |
|
No operations remain within the company. The director adopted the break up basis in preparing the financial statements for the year ended 30 June 2016. No further provisions are required. |
|
| 2 |
Investments |
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
| Class |
% |
£ |
£ |
|
Teampoint Systems Limited |
£1 Ordinary |
|
100 |
|
- |
|
- |
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Prepayments and accrued income |
|
|
|
|
17,841 |
|
- |
|
Other debtors |
- |
|
70 |
|
|
|
|
|
|
17,841 |
|
70 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
238,445 |
|
215,916 |
|
Director's account |
20,762 |
|
20,762 |
|
Trade creditors |
281 |
|
12,619 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
97,963 |
|
97,963 |
|
Other taxes and social security costs |
2,036 |
|
- |
|
Other creditors |
13,060 |
|
13,023 |
|
|
|
|
|
|
372,547 |
|
360,283 |
|
|
|
|
|
|
|
|
|
|
The company raised £150,000 by means of an issue of loan notes in the year ended 31 December 2012. The loan notes were due for repayment, in instalments, commencing six months following completion or conversion into shares at the discretion of the investors. Interest accrues at 10%. |
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
A J Matheson |
|
Owed by the company |
20,762 |
|
- |
|
- |
|
20,762 |
|
|
|
20,762 |
|
- |
|
- |
|
20,762 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2017 |
|
2016 |
| £ |
£ |
|
FreshTL Limited - Parent company |
|
Amount (to) related party |
(97,963) |
|
(97,963) |
|
| 7 |
Controlling party |
|
|
FreshTL Limited, a company incorporated in the United Kingdom, is the ultimate parent company. |
|
|
| 8 |
Other information |
|
|
Fresh T Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
2a Swordfish Business Park |
|
Swordfish Close, Higgins Lane |
|
Burscough |
|
Lancashire |
|
L40 8JW |
