Natural Instinct Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06901981 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

NATURAL INSTINCT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S D Brackhaus

K H Brackhaus

R D Brock

E West

SECRETARY:

S D Brackhaus

REGISTERED OFFICE:

2 A C Court

High Street

Thames Ditton

Surrey

KT7 0SR

REGISTERED NUMBER:

06901981 (England and Wales)

ACCOUNTANTS:

RJP LLP

2 AC Court

High Street

Thames Ditton

Surrey

KT7 0SR

FIXED ASSETS

Intangible assets

2

2,666

2,999

Tangible assets

3

235,469

229,570

238,135

232,569

CURRENT ASSETS

Stocks

173,025

222,761

Debtors

244,692

101,731

Cash at bank and in hand

203,273

118,141

620,990

442,633

CREDITORS

Amounts falling due within one year

495,669

236,192

NET CURRENT ASSETS

125,321

206,441

TOTAL ASSETS LESS CURRENT LIABILITIES

363,456

439,010

CREDITORS

Amounts falling due after more than one year

(383,788

)

(396,350

)

PROVISIONS FOR LIABILITIES

(33,236

)

(29,014

)

NET (LIABILITIES)/ASSETS

(53,568

)

13,646

CAPITAL AND RESERVES

Called up share capital

4

8

8

Share premium

13,325

13,325

Profit and loss account

(66,901

)

313

SHAREHOLDERS' FUNDS

(53,568

)

13,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 December 2014 and were signed on its behalf by:

K H Brackhaus - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.Turnover is recognised when goods

are sold in store or dispatched by the company.

Intangible fixed assets

Trademarks are amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on cost and 10% on cost

Stocks

Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value.

Cost is based on the cost of purchase including delivery charges.

Net realisable value is based on estimated selling prices.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

3,332

AMORTISATION

At 1 January 2013

333

Amortisation for year

333

At 31 December 2013

666

NET BOOK VALUE

At 31 December 2013

2,666

At 31 December 2012

2,999

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

321,812

Additions

63,660

Disposals

(1,465

)

At 31 December 2013

384,007

DEPRECIATION

At 1 January 2013

92,242

Charge for year

56,662

Eliminated on disposal

(366

)

At 31 December 2013

148,538

NET BOOK VALUE

At 31 December 2013

235,469

At 31 December 2012

229,570

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

as restated

£

£

8

Ordinary

£1

8

8

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During a civil and criminal investigation instigated by K H Brackhaus and S D Brackhaus in 2013, R D Brock and M

R Mcvay, director and former director of the company respectively, were found to have spent company funds on

personal expenditure over a period of several years. This expenditure was not authorised by the remaining

directors of the company. R D Brock was charged with several counts of fraud in 2014. It is understood that M R

McVay, who is currently resident in the USA, will be charged with the same or similar offences of fraud once he

returns from the USA.

The company has taken action against these directors in an attempt to recover significant funds. Whilst the

unauthorised personal expenses are owed to the company in full, the current directors have made full provision

on the basis that these funds may not be recovered due to R D Brock and M R Mcvay's personal financial

circumstances.

During the year an amount of £120,356 that was owing from R D Brock and M R Mcvay was provided for as a bad

debt by the company.

At the balance sheet date the company owed £446,240 to S D Brackhaus. Of this amount, £350,000 attracts

interest at a rate of 4% above base rate per annum, the remainder attracts interest at a rate of 6% per annum.