Opalbond Nutrition Limited - Period Ending 2014-10-31

Registration number: 03765347

Opalbond Nutrition Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Opalbond Nutrition Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Opalbond Nutrition Limited
(Registration number: 03765347)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					12,987			16,016
Current assets
Stocks					232,454			333,328
Debtors					705,112			557,170
Cash at bank and in hand					916,969			756,539
					1,854,535			1,647,037
Creditors: Amounts falling due within one year					(474,972)			(404,723)
Net current assets					1,379,563			1,242,314
Total assets less current liabilities					1,392,550			1,258,330
Provisions for liabilities					(2,440)			(3,630)
Net assets					1,390,110			1,254,700
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					1,389,110			1,253,700
Shareholders' funds					1,390,110			1,254,700

For the year ending 31 October 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 30 June 2015 and signed on its behalf by:

.........................................
A D McNish
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Opalbond Nutrition Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, 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
Fixtures, fittings and office equipment	25%, 15% and 10% on cost

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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Opalbond Nutrition Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		44,441			44,441
Additions		1,829			1,829
At 31 October 2014		46,270			46,270
Depreciation
At 1 November 2013		28,425			28,425
Charge for the year		4,858			4,858
At 31 October 2014		33,283			33,283
Net book value
At 31 October 2014		12,987			12,987
At 31 October 2013		16,016			16,016

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

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