Company Registration No. 08024998 (England and Wales)
Daisy Green Food Ltd
Abbreviated unaudited accounts
for the year ended 30 April 2016
Daisy Green Food Ltd
Abbreviated Balance Sheet
as at
30 April 2016
Intangible assets
-
8,400
Tangible assets
343,058
238,104
Current asset investments
3
-
Cash at bank and in hand
451,624
23,167
Creditors: amounts falling due within one year
(653,869)
(781,231)
Net current assets/(liabilities)
218,598
(553,443)
Total assets less current liabilities
561,659
(306,936)
Creditors: amounts falling due after more than one year
(893,916)
(15,883)
Provisions for liabilities
(32,236)
(26,074)
Net liabilities
(364,493)
(348,893)
Called up share capital
2
2
Profit and loss account
(364,495)
(348,895)
Total shareholders' funds
(364,493)
(348,893)
For the year ending 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 30 January 2017
Prudence Freeman
Director
Company Registration No. 08024998
Daisy Green Food Ltd
Notes to the Abbreviated Accounts
for the year ended 30 April 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Straight line basis
Motor vehicles
25% on Straight line basis
Fixtures & fittings
25% on Straight line basis
Computer equipment
25% on Straight line basis
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Daisy Green Food Ltd
Notes to the Abbreviated Accounts
for the year ended 30 April 2016
2
Intangible fixed assets
Other increase/(decrease)
(3,172)
Charge for the year
98,402
During the financial year, the company has issued bonds for the value of £773,000 offering 11% annual rate of return which are redeemable at par after 4 years.
6
Share capital
2016
2015
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2