Registered Number 08523408
FRUITY BEAUTIES LTD
Abbreviated Accounts
31 May 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
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Total assets less current liabilities |
( |
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Creditors: amounts falling due after more than one year |
( |
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Total net assets (liabilities) |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Share premium account |
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Profit and loss account |
( |
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Shareholders' funds |
( |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company meets its day to day working capital requirements through loans made to the company by the directors and their families.
The company has developed products which were not available for sale until after the end of the current financial year. The directors have prepared projected cash flow information for the period ending 9 months from the date of their approval of these financial statements. On the basis of this cash flow information the directors consider that the company will start to sell products in 2016 and the directors have agreed to continue to support the company over the next 12 months. The directors and loan contributors will not request repayment of the outstanding loans until the company is able to make repayment without causing the company cash flow difficulties. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the loans provided by the company's directors or their families .
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).
Tangible assets depreciation policy
write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment 20% reducing balance
Motor vehicles 25% reducing balance
£ | |
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Cost | |
At 1 June 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 May 2016 |
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Depreciation | |
At 1 June 2015 |
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Charge for the year |
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On disposals |
( |
At 31 May 2016 |
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Net book values | |
At 31 May 2016 | 1,567 |
At 31 May 2015 | 4,305 |