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COMPANY REGISTRATION NUMBER
08693848
ST NEOTS COFFEE COMPANY LIMITED
ABBREVIATED ACCOUNTS
30 September 2016
GRH ACCOUNTANCY LIMITED
85C Huntingdon Street
St Neots
Cambridgeshire
PE19 1DU
ST NEOTS COFFEE COMPANY LIMITED
ABBREVIATED BALANCE SHEET
30 September 2016
|
2016
|
2015
|
Note
|
£
|
£
|
£
|
FIXED ASSETS
|
2
|
|
|
|
Tangible assets
|
|
17,572
|
20,538
|
|
|
---------
|
---------
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
1,800
|
|
2,000
|
Debtors
|
20,806
|
|
22,176
|
Cash at bank and in hand
|
52,172
|
|
40,857
|
|
---------
|
|
---------
|
|
74,778
|
|
65,033
|
CREDITORS: Amounts falling due within one year
|
57,141
|
|
41,811
|
|
---------
|
|
---------
|
NET CURRENT ASSETS
|
|
17,637
|
23,222
|
|
|
---------
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
35,209
|
43,760
|
|
|
---------
|
---------
|
|
|
|
|
CAPITAL AND RESERVES
Called up equity share capital
|
3
|
|
100
|
100
|
Profit and loss account
|
|
35,109
|
43,660
|
|
|
---------
|
---------
|
SHAREHOLDERS' FUNDS
|
|
35,209
|
43,760
|
|
|
---------
|
---------
|
|
|
|
|
|
For the year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on
9 March 2017
.
Miss N C Wilson
Director
Company Registration Number:
08693848
ST NEOTS COFFEE COMPANY LIMITED
NOTES TO THE
ABBREVIATED ACCOUNTS
YEAR ENDED 30 SEPTEMBER 2016
1.
ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery-15% cost
Fixtures & Fittings-25% cost
Equipment-25% cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Post retirement benefits
The company has agreed to provide certain additional post-retirement benefits to selected senior employees. The estimated cost of providing such benefits is charged against profits on a systematic basis over the employees' working lives within the company.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2.
FIXED ASSETS
COST
At 1 October 2015
|
29,421
|
Additions
|
3,113
|
Disposals
|
(
1,799)
|
|
---------
|
At 30 September 2016
|
30,735
|
|
---------
|
|
|
DEPRECIATION
At 1 October 2015
|
8,883
|
Charge for year
|
4,655
|
On disposals
|
(
375)
|
|
---------
|
At 30 September 2016
|
13,163
|
|
---------
|
|
|
NET BOOK VALUE
At 30 September 2016
|
17,572
|
|
---------
|
|
|
At 30 September 2015
|
20,538
|
|
---------
|
|
|
3.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2016
|
2015
|
|
No.
|
£
|
No.
|
£
|
|
Ordinary shares of £ 1 each
|
100
|
100
|
100
|
100
|
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
|
ST NEOTS COFFEE COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR OF ST NEOTS COFFEE
COMPANY LIMITED
YEAR ENDED 30 SEPTEMBER 2016
As described on the balance sheet, the director of the company is responsible for the preparation of the abbreviated accounts for the year ended 30 September 2016.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
GRH ACCOUNTANCY LIMITED
85C Huntingdon Street
St Neots
Cambridgeshire
PE19 1DU
9 March 2017