| FreshTL 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). |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. 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. |
|
Creditors |
|
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
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 |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 July 2016 |
1 |
|
|
At 30 June 2017 |
1 |
|
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 |
Ordinary |
100 |
|
- |
|
- |
|
Fresh T Limited |
Ordinary |
100 |
|
(354,192) |
|
3,776 |
|
|
| 3 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Convertible loan stock |
238,131 |
|
215,602 |
|
|
|
|
|
|
|
|
|
|
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%. |
| 4 |
Convertible notes |
2017 |
|
2016 |
| £ |
£ |
|
|
At 1 July 2016 |
7,723 |
|
7,723 |
|
|
At 30 June 2017 |
7,723 |
|
7,723 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Controlling party |
|
|
FreshTL Limited, a company incorporated in the United Kingdom, is the ultimate parent company. |
|
|
| 6 |
Other information |
|
|
FreshTL 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 |
