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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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Fred & Ginger Coffee Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2017 |
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for |
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Fred & Ginger Coffee Ltd |
Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Fred & Ginger Coffee Ltd |
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Company Information |
for the Year Ended 31 May 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 Teal Close |
Horndean |
Waterlooville |
Hampshire |
PO8 9YF |
Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Balance Sheet |
31 May 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS | 11 |
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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. |
Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Balance Sheet - continued |
31 May 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2017 |
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1. | STATUTORY INFORMATION |
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Fred & Ginger Coffee Ltd is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that |
have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred |
tax is measured using tax rates and laws that have been enacted or substantively enacted |
by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it |
is probable that they will be recovered against the reversal of deferred tax liabilities or other |
future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 June 2016 |
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Additions |
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Disposals |
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At 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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5. | STOCKS |
31.5.17 | 31.5.16 |
£ | £ |
Finished goods |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Wages control account | - | 234 |
VAT | 6,395 | 4,008 |
Directors' current accounts | 81,578 | 79,977 |
Accrued expenses |
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Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.17 | 31.5.16 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended |
31 May 2017 and 31 May 2016: |
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31.5.17 | 31.5.16 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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10. | ULTIMATE CONTROLLING PARTY |
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11. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
31.5.17 | 31.5.16 |
£ | £ |
Profit for the financial year |
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Dividends | ( |
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Net addition/(reduction) to shareholders' funds | 274 | (15,667 | ) |
Opening shareholders' funds | 694 | 16,361 |
Closing shareholders' funds | 968 | 694 |
Fred & Ginger Coffee Ltd (Registered number: 08377518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2017 |
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12. | FIRST YEAR ADOPTION |
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This is the first year the company has presented its financial statements under Financial |
Reporting Standard 102 Section 1a (FRS102 (1a)) issued by the Financial Reporting |
Council. The last financial statements for the year ended 31 May 2017 , were prepared |
under the previous UK GAAP. The transition date to FRS102 (1a) is therefore 1 June 2016. |
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There were no material adjustments required on transition to FRS102 (1a) and as such it |
has not been necessary to restate prior year comparatives following implementation of |
FRS102 (1a). |
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