Company Registration No. 02987472 (England and Wales)
MARASU'S PETITS FOURS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
MARASU'S PETITS FOURS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
MARASU'S PETITS FOURS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2018
30 April 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
240,891
298,991
Current assets
Stocks
738,149
534,703
Debtors
4
438,152
528,680
Cash at bank and in hand
13,995
15,783
1,190,296
1,079,166
Creditors: amounts falling due within one year
5
(1,221,677)
(899,935)
Net current (liabilities)/assets
(31,381)
179,231
Total assets less current liabilities
209,510
478,222
Creditors: amounts falling due after more than one year
6
(430,973)
(477,843)
Provisions for liabilities
(5,765)
(5,765)
Net liabilities
(227,228)
(5,386)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(228,228)
(6,386)
Total equity
(227,228)
(5,386)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
MARASU'S PETITS FOURS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2018
30 April 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 November 2018 and are signed on its behalf by:
William Brian Keeling
Director
Company Registration No. 02987472
MARASU'S PETITS FOURS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2018
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2016
1,000
348,279
349,279
Year ended 30 April 2017:
Loss and total comprehensive income for the year
-
(324,665)
(324,665)
Dividends
-
(30,000)
(30,000)
Balance at 30 April 2017
1,000
(6,386)
(5,386)
Year ended 30 April 2018:
Loss and total comprehensive income for the year
-
(221,842)
(221,842)
Balance at 30 April 2018
1,000
(228,228)
(227,228)
MARASU'S PETITS FOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
- 4 -
1
Accounting policies
Company information
Marasu's Petits Fours Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 8, Powergate Business Park, Volt Avenue, London, NW10 6PW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
Over the term of the lease
Plant and equipment
10% per annum of cost
Fixtures and fittings
25% per annum of cost
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.5
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MARASU'S PETITS FOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Taxation
The tax expense represents deferred tax.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
MARASU'S PETITS FOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 75 (2017 - 61).
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 May 2017
470,896
1,370,221
109,859
1,950,976
Additions
10,590
41,415
-
52,005
Disposals
-
(1,250)
-
(1,250)
At 30 April 2018
481,486
1,410,386
109,859
2,001,731
Depreciation and impairment
At 1 May 2017
441,435
1,100,691
109,859
1,651,985
Depreciation charged in the year
31,584
78,521
-
110,105
Eliminated in respect of disposals
-
(1,250)
-
(1,250)
At 30 April 2018
473,019
1,177,962
109,859
1,760,840
Carrying amount
At 30 April 2018
8,467
232,424
-
240,891
At 30 April 2017
29,461
269,530
-
298,991
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
246,809
440,983
Other debtors
191,343
87,697
438,152
528,680
MARASU'S PETITS FOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 7 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
217,827
68,431
Trade creditors
361,651
191,573
Amounts due to group undertakings
311,000
168,000
Other taxation and social security
40,173
121,668
Other creditors
291,026
350,263
1,221,677
899,935
Included within other creditors is an amount of £16
4
,
871
(2017: £16
7
,3
6
8) which is secured.
The bank loan and overdraft are secured by fixed and floating charges over all the company's assets, together with an unlimited inter-company guarantee.
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
11,851
50,134
Amounts due to group undertakings
385,677
373,974
Other creditors
33,445
53,735
430,973
477,843
Included within other creditors is an amount of £33,445 (2017: £
53
,
735
) which is secured.
The bank loan is secured by fixed and floating charges over all the company's assets, together with an unlimited inter-company guarantee.
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
1,000
1,000
MARASU'S PETITS FOURS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
- 8 -
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2018
2017
£
£
Within one year
260,333
260,333
Between two and five years
1,240,664
1,259,228
In over five years
261,595
503,067
1,762,592
2,022,628
9
Related party transactions
The company has taken advantage of the exemption in FRS 102 not to disclose transactions with other group companies which are wholly owned within the group.
10
Parent company
The company is a wholly owned subsidiary of Prestat Group Ltd and its registered office is Unit 8 Powergate Business Park, Volt Avenue, London, NW10 6PW.
2018-04-30
2017-05-01
false
CCH Software
CCH Accounts Production 2018.300
No description of principal activity
22 November 2018
William Brian Keeling
Nicholas Anthony Crean
Victoria Alma Hill
William Brian Keeling
02987472
2017-05-01
2018-04-30
02987472
2018-04-30
02987472
2017-04-30
02987472
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2018-04-30
02987472
core:PlantMachinery
2018-04-30
02987472
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2017-04-30
02987472
core:PlantMachinery
2017-04-30
02987472
core:CurrentFinancialInstruments
2018-04-30
02987472
core:CurrentFinancialInstruments
2017-04-30
02987472
core:Non-currentFinancialInstruments
2018-04-30
02987472
core:Non-currentFinancialInstruments
2017-04-30
02987472
core:ShareCapital
2018-04-30
02987472
core:ShareCapital
2017-04-30
02987472
core:RetainedEarningsAccumulatedLosses
2018-04-30
02987472
core:RetainedEarningsAccumulatedLosses
2017-04-30
02987472
core:ShareCapitalOrdinaryShares
2018-04-30
02987472
core:ShareCapitalOrdinaryShares
2017-04-30
02987472
bus:CompanySecretaryDirector1
2017-05-01
2018-04-30
02987472
2016-05-01
2017-04-30
02987472
core:RetainedEarningsAccumulatedLosses
2017-05-01
2018-04-30
02987472
core:RetainedEarningsAccumulatedLosses
2016-05-01
2017-04-30
02987472
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2017-05-01
2018-04-30
02987472
core:PlantMachinery
2017-05-01
2018-04-30
02987472
core:FurnitureFittings
2017-05-01
2018-04-30
02987472
core:LandBuildings
core:LeasedAssetsHeldAsLessee
2017-04-30
02987472
core:PlantMachinery
2017-04-30
02987472
core:FurnitureFittings
2017-04-30
02987472
2017-04-30
02987472
core:FurnitureFittings
2018-04-30
02987472
bus:OrdinaryShareClass1
2017-05-01
2018-04-30
02987472
bus:OrdinaryShareClass1
2018-04-30
02987472
bus:PrivateLimitedCompanyLtd
2017-05-01
2018-04-30
02987472
bus:FRS102
2017-05-01
2018-04-30
02987472
bus:AuditExemptWithAccountantsReport
2017-05-01
2018-04-30
02987472
bus:SmallCompaniesRegimeForAccounts
2017-05-01
2018-04-30
02987472
bus:Director1
2017-05-01
2018-04-30
02987472
bus:Director2
2017-05-01
2018-04-30
02987472
bus:Director3
2017-05-01
2018-04-30
02987472
bus:CompanySecretary1
2017-05-01
2018-04-30
02987472
bus:FullAccounts
2017-05-01
2018-04-30
xbrli:pure
xbrli:shares
iso4217:GBP