Pistachios In The Park Hilly Fields Ltd
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Registered number: |
07821043
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Directors' Report |
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The directors present their report and accounts for the year ended 31 October 2016. |
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Principal activities |
The company's principal activity during the year continued to be the operation of a café via a franchise.
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Directors |
The following persons served as directors during the year: |
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A Djemil
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F Harding
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R Meaney
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Political and charitable donations |
During the year, the company made no political contributions. Charitable donations were : |
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Battersea Dogs |
£60 |
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Oxfam |
£120 |
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Mesothelioma |
£50 |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 27 July 2017 and signed on its behalf. |
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F Harding |
Director |
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Pistachios In The Park Hilly Fields Ltd |
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Pistachios In The Park Hilly Fields Ltd for the year ended 31 October 2016 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pistachios In The Park Hilly Fields Ltd for the year ended 31 October 2016 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
Turner Burke Limited |
Chartered Certified Accountants |
77 Avery Hill Road |
Eltham |
LONDON |
SE9 2BJ |
|
27 July 2017 |
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Pistachios In The Park Hilly Fields Ltd
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Balance Sheet |
as at 31 October 2016
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Notes |
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2016 |
|
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2015 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
7,530 |
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|
6,901 |
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Current assets |
Stocks |
|
|
3,258 |
|
|
3,258 |
Debtors |
5 |
|
49,033 |
|
|
51,837 |
Cash at bank and in hand |
|
|
101,916 |
|
|
43,636 |
|
|
|
154,207 |
|
|
98,731 |
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Creditors: amounts falling due within one year |
6 |
|
(41,694) |
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(33,857) |
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Net current assets |
|
|
|
112,513 |
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|
64,874 |
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Total assets less current liabilities |
|
|
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120,043 |
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|
71,775 |
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Provisions for liabilities |
7 |
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|
(755) |
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|
(755) |
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Net assets |
|
|
|
119,288 |
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|
71,020 |
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|
|
|
|
|
|
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Capital and reserves |
Called up share capital |
8 |
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|
100 |
|
|
100 |
Profit and loss account |
9 |
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|
119,188 |
|
|
70,920 |
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Shareholders' funds |
|
|
|
119,288 |
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|
71,020 |
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|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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F Harding |
Director |
Approved by the board on 27 July 2017
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Pistachios In The Park Hilly Fields Ltd
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Notes to the Accounts |
for the year ended 31 October 2016
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Furniture, fitting and equipment |
25% reducing balance
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Stocks |
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Stock is valued at the lower of cost and net realisable value. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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2 |
Operating profit |
2016 |
|
2015 |
£ |
£ |
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This is stated after charging: |
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Depreciation of owned fixed assets |
2,510 |
|
2,300 |
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Directors' remuneration |
31,500 |
|
27,900 |
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3 |
Taxation |
2016 |
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2015 |
£ |
£ |
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UK corporation tax |
15,066 |
|
7,813 |
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Deferred tax |
- |
|
(322) |
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|
|
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15,066 |
|
7,491 |
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|
|
|
|
|
|
|
|
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4 |
Tangible fixed assets |
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|
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Plant and machinery etc |
£ |
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Cost |
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At 1 November 2015 |
21,639 |
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Additions |
3,139 |
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At 31 October 2016 |
24,778 |
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Depreciation |
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At 1 November 2015 |
14,738 |
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Charge for the year |
2,510 |
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At 31 October 2016 |
17,248 |
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Net book value |
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At 31 October 2016 |
7,530 |
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At 31 October 2015 |
6,901 |
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|
|
|
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|
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5 |
Debtors |
2016 |
|
2015 |
£ |
£ |
|
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Other debtors |
49,033 |
|
51,837 |
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|
|
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6 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
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Corporation tax |
15,066 |
|
7,813 |
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Other taxes and social security costs |
12,027 |
|
10,616 |
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Other creditors |
14,601 |
|
15,428 |
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|
|
|
|
|
41,694 |
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33,857 |
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|
|
|
|
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7 |
Provisions for liabilities |
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Deferred taxation: |
2016 |
|
2015 |
£ |
£ |
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Accelerated capital allowances |
755 |
|
755 |
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|
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2016 |
|
2015 |
£ |
£ |
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At 1 November |
755 |
|
755 |
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At 31 October |
755 |
|
755 |
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|
|
|
|
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8 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
|
£1 each |
|
- |
|
100 |
|
100 |
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9 |
Profit and loss account |
2016 |
£ |
|
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At 1 November 2015 |
70,920 |
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Profit for the year |
60,268 |
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Dividends |
(12,000) |
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At 31 October 2016 |
119,188 |
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10 |
Dividends |
2016 |
|
2015 |
£ |
£ |
|
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Dividends for which the company became liable during the year: |
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Dividends paid |
12,000 |
|
10,000 |
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11 |
Related party transactions |
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R Meaney and F Harding |
(3,034) |
|
(4,197) |
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Directors / Shareholders |
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Monies loaned to the company in relation to normal business |
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expenditure. |
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(Amount due from (to) the related party) |
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W T Harding |
(9,570) |
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(9,570) |
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Brother of F Harding |
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Monies loaned to the company in relation to normal business |
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expenditure. |
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(Amount due from (to) the related party) |
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12 |
Ultimate controlling party |
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The company is controlled by F Harding by virtue of owning 50 of the 100 issued shares. |