Sweet and Nostalgic Limited - Period Ending 2014-06-30

Registration number: 06950738

Sweet and Nostalgic Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Alwyn Thomas Limited
Glenaub House
Old School Road
Porthcawl
Bridgend
CF36 3AW

Sweet and Nostalgic Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sweet and Nostalgic Limited
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sweet and Nostalgic Limited for the year ended 30 June 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Sweet and Nostalgic Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sweet and Nostalgic Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sweet and Nostalgic Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sweet and Nostalgic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sweet and Nostalgic Limited. You consider that Sweet and Nostalgic Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Sweet and Nostalgic 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 accounts.

......................................

Alwyn Thomas Limited
Glenaub House
Old School Road
Porthcawl
Bridgend
CF36 3AW

31 March 2015

Page 1

Sweet and Nostalgic Limited
(Registration number: 06950738)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			26,715			2,042
Current assets
Stocks					12,161			10,358
Cash at bank and in hand					6,300			4,503
					18,461			14,861
Creditors: Amounts falling due within one year					(4,490)			(480)
Net current assets					13,971			14,381
Total assets less current liabilities					40,686			16,423
Creditors: Amounts falling due after more than one year					(34,457)			(14,484)
Net assets					6,229			1,939
Capital and reserves
Called up share capital		4			1,939			100
Profit and loss account					4,290			1,839
Shareholders' funds					6,229			1,939

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 March 2015 and signed on its behalf by:

.........................................
Mr Mark Dixon
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Sweet and Nostalgic Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis, given that the
directors will continue to fund the company.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant & Machinery	25% SL
Motor Vehicles	25% SL

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Page 3

Sweet and Nostalgic Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2013		11,496			11,496
Additions		29,799			29,799
Disposals		(10,563)			(10,563)
At 30 June 2014		30,732			30,732
Depreciation
At 1 July 2013		9,454			9,454
Charge for the year		3,146			3,146
Eliminated on disposals		(8,583)			(8,583)
At 30 June 2014		4,017			4,017
Net book value
At 30 June 2014		26,715			26,715
At 30 June 2013		2,042			2,042

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		2,707			-
Amounts falling due after more than one year		19,334			-
Total secured creditors		22,041			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4