Ashirwaad Sweets Limited - Filleted accounts

Ashirwaad Sweets Limited - Filleted accounts

ASHIRWAAD SWEETS LIMITED - Company Information

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Registered number
10281501
Ashirwaad Sweets Limited
Filleted Accounts
31 July 2018
Ashirwaad Sweets Limited
Registered number: 10281501
Balance Sheet
as at 31 July 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 10,363 11,515
Current assets
Stocks 1,610 1,250
Debtors 3 710 573
Cash at bank and in hand 1,875 1,125
4,195 2,948
Creditors: amounts falling due within one year 4 (12,355) (12,773)
Net current liabilities (8,160) (9,825)
Net assets 2,203 1,690
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,202 1,689
Shareholders' funds 2,203 1,690
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V B Sharma
Director
Approved by the board on 17 April 2019
Ashirwaad Sweets Limited
Notes to the Accounts
for the year ended 31 July 2018
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2017 12,795
At 31 July 2018 12,795
Depreciation
At 1 August 2017 1,280
Charge for the year 1,152
At 31 July 2018 2,432
Net book value
At 31 July 2018 10,363
At 31 July 2017 11,515
3 Debtors 2018 2017
£ £
Trade debtors 710 573
4 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 692 675
Taxation and social security costs 144 163
Other creditors 11,519 11,935
12,355 12,773
5 Controlling party
The company is controlled by the director who owns 100% of the called up share capital.
6 Other information
Ashirwaad Sweets Limited is a private company limited by shares and incorporated in England. Its registered office is:
124 Caldmore Road
Caldmore
Walsall
West Midlands
WS1 3RF
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