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Unaudited Financial Statements for the Year Ended 31 January 2020 |
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Culinaire Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2020 |
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for |
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Culinaire Limited |
Culinaire Limited (Registered number: SC200272) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
Culinaire Limited |
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Company Information |
for the Year Ended 31 January 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Offices 1 & 8, Unit 1A |
Burghmuir Circle |
Blackhall Industrial Estate |
Inverurie |
Aberdeenshire |
AB51 4FS |
Culinaire Limited (Registered number: SC200272) |
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Balance Sheet |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Fair value reserve | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial
year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
by: |
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Culinaire Limited (Registered number: SC200272) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2020 |
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1. | STATUTORY INFORMATION |
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Culinaire Limited is a
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registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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 amounts in these |
financial statements are rounded to the nearest £. |
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. |
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Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which |
includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end |
date. The surplus or deficit on revaluation is recognised in the profit and loss account. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it |
relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted |
by the balance sheet date. |
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Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
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Basic financial assets |
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Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and are subsequently carried at amortised cost. |
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Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the |
company transfers the risks and rewards of ownership to another entity. |
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Basic financial liabilities |
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Basic financial liabilities, which include trade and other creditors and bank loans, are initially recognised at transaction price and |
are subsequently carried at amortised cost. |
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Financial liabilities are derecognised when the company's contractual obligations are discharged |
Culinaire Limited (Registered number: SC200272) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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3. | ACCOUNTING POLICIES - continued |
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Provisions |
Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event which it is probable |
will result in the transfer of economic benefits and that obligation can be estimated reliably. |
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Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of |
money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that |
reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. |
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Going concern |
The director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its |
operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the |
financial statements that there is a reasonable expectation that the company has adequate resources to continue in operational |
existence for the foreseeable future. As a result, the director has continued to adopt the going concern basis of accounting in |
preparing the annual financial statements. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2019 |
and 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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Investment property comprises of a property at 21 Market Square, Stonehaven. The fair value of investment properties has been |
arrived at following an independent valuation in August 2017 by Allied Surveyors Scotland PLC. The property was assessed using |
the Comparative Basis of Valuation and has been valued at its market value. |
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If the investment property had not been revalued it would have been included at the historical cost of £71,715. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.20 | 31.1.19 |
value: | £ | £ |
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Ordinary | 1 | 140,000 | 140,000 |
Culinaire Limited (Registered number: SC200272) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 February 2019 |
and 31 January 2020 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 January 2020 and 31 January 2019: |
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31.1.20 | 31.1.19 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced | ( |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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These amounts bear no interest and have no fixed repayment terms. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are both the directors Ian Walter Leslie Brown and Maureen Norma Brown, the shareholders of |
Culinaire Limited. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Culinaire Limited (Registered number: SC200272) |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial |
statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are |
cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be |
filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of |
Culinaire Limited for the year ended 31 January 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in |
Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Culinaire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Culinaire Limited and state those matters that we have agreed to state to the Board of Directors of Culinaire Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Culinaire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Culinaire Limited. You consider that Culinaire Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Culinaire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Offices 1 & 8, Unit 1A |
Burghmuir Circle |
Blackhall Industrial Estate |
Inverurie |
Aberdeenshire |
AB51 4FS |
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