Company Registration No. 08785029 (England and Wales)
WARIS FOOD STORE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2014
WARIS FOOD STORE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
WARIS FOOD STORE LTD
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2014
30 November 2014
- 1 -
Notes
£
£
Fixed assets
Tangible assets
2
5,501
Current assets
Stocks
19,580
Debtors
1,797
Cash at bank and in hand
16,681
38,058
Creditors: amounts falling due within one year
(42,879)
Net current liabilities
(4,821)
Total assets less current liabilities
680
Capital and reserves
Called up share capital
3
2
Profit and loss account
678
Shareholders' funds
680
For the financial Period ended 30 November 2014 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 financial statements for the Period in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 20 August 2015
Mr Amar Hussain
Director
Company Registration No. 08785029
WARIS FOOD STORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 NOVEMBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
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).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance method
Computer equipment
Fixtures, fittings & equipment
25% Reducing balance method
Motor vehicles
25% Reducing balance method
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 21 November 2013
-
Additions
7,335
At 30 November 2014
7,335
Depreciation
At 21 November 2013
41
Charge for the period
1,793
At 30 November 2014
1,834
Net book value
At 30 November 2014
5,501
WARIS FOOD STORE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2014
- 3 -
3
Share capital
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
During the year 2 ordinary shares of £1 each were allotted and fully paid at par for cash consideration.