Company Registration No. 09299969 (England and Wales)
ACORN DELI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
ACORN DELI LIMITED
COMPANY INFORMATION
Directors
Mr B Waites
Mrs L Waites
Company number
09299969
Registered office
32 Brenkley Way
Blezard Business Park
Seaton Burn
Newcastle upon Tyne
NE13 6DS
Accountants
Baldwins (Seaton Burn) Limited
32 Brenkley Way
Blezard Business Park
Seaton Burn
Newcastle upon Tyne
NE13 6DS
ACORN DELI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ACORN DELI LIMITED
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Goodwill
3
36,524
23,330
Tangible assets
4
31,392
20,807
67,916
44,137
Current assets
Stocks
1,500
2,367
Debtors
5
13,483
16,870
Cash at bank and in hand
2,813
1,215
17,796
20,452
Creditors: amounts falling due within one year
6
(176,095)
(90,505)
Net current liabilities
(158,299)
(70,053)
Total assets less current liabilities
(90,383)
(25,916)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(90,483)
(26,016)
Total equity
(90,383)
(25,916)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 24 October 2017 and are signed on its behalf by:
Mr B Waites
Director
Company Registration No. 09299969
ACORN DELI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
- 2 -
1
Accounting policies
Company information
Acorn Deli Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
32 Brenkley Way, Blezard Business Park, Seaton Burn, Newcastle upon Tyne, NE13 6DS.
1.1
Accounting convention
These financial statements for the Year ended 31 March 2017
are the
first
financial statements of Acorn Deli Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company meets its working capital requirements with support from the directors who are also co-shareholders. The directors are committed to not withdrawing financial support from the company.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the directors financial support.
1.2
Turnover
Turnover represents amounts receivable
for goods
net of VAT
.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvement
Written off over the remaining lease term
Fixtures, fittings & equipment
20% On cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
ACORN DELI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Year was 10 (2016 - 4).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2016
24,134
Additions
22,526
At 31 March 2017
46,660
Amortisation and impairment
At 1 April 2016
804
Amortisation charged for the Year
9,332
At 31 March 2017
10,136
Carrying amount
At 31 March 2017
36,524
At 31 March 2016
23,330
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2016
14,209
7,234
21,443
Additions
-
18,000
18,000
At 31 March 2017
14,209
25,234
39,443
Depreciation and impairment
At 1 April 2016
395
241
636
Depreciation charged in the Year
2,368
5,047
7,415
At 31 March 2017
2,763
5,288
8,051
Carrying amount
At 31 March 2017
11,446
19,946
31,392
At 31 March 2016
13,814
6,993
20,807
ACORN DELI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 4 -
5
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
1
-
Other debtors
13,482
16,870
13,483
16,870
6
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
8,763
150
Other taxation and social security
13,392
104
Other creditors
153,940
90,251
176,095
90,505
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100