Registered Number 06178606
THE PUDDING COMPARTMENT LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
( |
( |
Accruals and deferred income |
( |
( |
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Total net assets (liabilities) |
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( |
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Capital and reserves | |||
Called up share capital | 4 |
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Share premium account |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Leasehold Property - 6 years straight line basis
Office Equipment - 20% reducing balance
Fixtures & Fittings - 20% reducing balance
Motor Vehicles - 25% reducing balance
Equipment - 20% reducing balance
Valuation information and policy
All fixed assets are initially recorded at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Other accounting policies
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.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Going Concern Basis
The company is dependent on the finance provided by its director to meet its day to day operating expenses.
The director has confirmed that this support will be available for the foreseeable future to enable the company to continue its operational existence.
On this assumption, the financial statements have been prepared on the going concern basis
Deferred Government Grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.
GOVERNMENT GRANTS
2016 2015
£ £
Received and receivable 5,770 2,666
Amortisation (2,980) (2,282)
2,790 384
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
( |
At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 103,756 |
At 31 March 2015 | 105,173 |
2016
£ |
2015
£ |
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Secured Debts |
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