Atacama Textiles Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04540773 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

ATACAMA TEXTILES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P H O'Conor

Mrs R J O'Conor

SECRETARY:

Newbridge Registrars Limited

REGISTERED OFFICE:

Tomkins Farm

Cinder Hill

North Chailey

East Sussex

BN8 4HP

REGISTERED NUMBER:

04540773 (England and Wales)

ACCOUNTANTS:

GBJ Financial Limited

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Tangible assets

4

27,625

36,416

CURRENT ASSETS

Stocks

2,750

2,750

Debtors

5

22,655

29,766

Cash at bank

3,391

-

28,796

32,516

CREDITORS

Amounts falling due within one year

6

73,448

81,072

NET CURRENT LIABILITIES

(44,652

)

(48,556

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,027

)

(12,140

)

CREDITORS

Amounts falling due after more than one year

7

159,700

157,900

NET LIABILITIES

(176,727

)

(170,040

)

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Share premium

52,965

52,965

Retained earnings

(249,692

)

(243,005

)

SHAREHOLDERS' FUNDS

(176,727

)

(170,040

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

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

(b)

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 March 2019 and were signed on its behalf by:

P H O'Conor - Director

1.	STATUTORY INFORMATION

Atacama Textiles Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for the purchase, production and sale of alpaca garments

and textiles, and animal husbandry net of VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery: 10% - 25% Straight line

Fixtures, fittings & equipment: 25% Straight line

Motor vehicles: 25% Straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Revenue recognition

Revenue comprises net sales exclusive of VAT. Revenue is recognised upon submission of an invoice

following completion of the work undertaken.

Going concern

The accounts have been prepared on a going concern basis, which is dependant on the directors and

long term creditor continuing their support to enable the company to trade.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

and 30 June 2018

104,423

DEPRECIATION

At 1 July 2017

68,007

Charge for year

8,791

At 30 June 2018

76,798

NET BOOK VALUE

At 30 June 2018

27,625

At 30 June 2017

36,416

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

17,841

25,481

Other debtors

4,814

4,285

22,655

29,766

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

6,557

Trade creditors

(1

)

-

Amounts owed to group undertakings

19,986

18,620

Taxation and social security

(17

)

(344

)

Other creditors

53,480

56,239

73,448

81,072

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

159,700

157,900

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

159,700

157,900

There are no fixed terms for the repayment of the loan and the Directors consider it to be a long term

loan.