Company Registration No. 11592599 (England and Wales)
DITCHLING SPIRITS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
DITCHLING SPIRITS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DITCHLING SPIRITS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
Notes
£
£
Fixed assets
Tangible assets
2
925
Current assets
Stocks
17,494
Debtors
3
31,126
Cash at bank and in hand
11,172
59,792
Creditors: amounts falling due within one year
4
(66,800)
Net current liabilities
(7,008)
Total assets less current liabilities
(6,083)
Capital and reserves
Called up share capital
5
10
Profit and loss reserves
(6,093)
Total equity
(6,083)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 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 31 January 2020 and are signed on its behalf by:
Mrs D J Forester
Director
Company Registration No. 11592599
DITCHLING SPIRITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
Ditchling Spirits Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Ground Floor, Belmont Place, Belmont Road, MAIDENHEAD, SL6 6TB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets
are measured at cost net of depreciation
.
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:
Computers
33.33% SL
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
.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
DITCHLING SPIRITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.7
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease
.
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 27 September 2018
-
Additions
1,041
At 30 September 2019
1,041
Depreciation and impairment
At 27 September 2018
-
Depreciation charged in the year
116
At 30 September 2019
116
Carrying amount
At 30 September 2019
925
3
Debtors
2019
Amounts falling due within one year:
£
Trade debtors
28,863
Other debtors
2,263
31,126
DITCHLING SPIRITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
£
Trade creditors
3,356
Other creditors
63,444
66,800
5
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary Shares of 1p each
10