Natures Footprint Limited - Period Ending 2014-12-31

Registration number: 07713228

Natures Footprint Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2014
 

A D Betley, FCA
AIMS - Accountants for Business
27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

Natures Footprint Limited
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

Natures Footprint Limited
Company Information

Directors

Mr A D Betley Mr RB Rhoads

Registered office

27 Redwood Glade Leighton Buzzard Bedfordshire LU7 3JT

Accountants

A D Betley, FCA AIMS - Accountants for Business 27 Redwood Glade Leighton Buzzard Bedfordshire LU7 3JT

Page 1

Natures Footprint Limited
Directors' Report for the Year Ended 31 December 2014

The directors present their report and the unaudited financial statements for the year ended 31 December 2014.

Directors of the company

The directors who held office during the year were as follows:

Mr A D Betley

Mr RB Rhoads

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 3 August 2015 and signed on its behalf by:

.........................................
Mr A D Betley
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Natures Footprint Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Natures Footprint Limited for the year ended 31 December 2014 set out on pages 4 to 8 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 Natures Footprint 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 Natures Footprint 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 Natures Footprint Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Natures Footprint 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 loss of Natures Footprint Limited. You consider that Natures Footprint 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 Natures Footprint 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.

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

A D Betley, FCA
AIMS - Accountants for Business
27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

3 August 2015

Page 3

Natures Footprint Limited
Profit and Loss Account for the Year Ended 31 December 2014

		Note			2014 £			2013 £
Turnover		2			30,223			18,991
Cost of sales					(17,890)			(18,831)
Gross profit					12,333			160
Distribution costs					(10,591)			(9,775)
Administrative expenses					(2,454)			(2,376)
Operating loss		3			(712)			(11,991)
Other interest receivable and similar income					39			16
Loss on ordinary activities before taxation					(673)			(11,975)
Loss for the financial year		8			(673)			(11,975)

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

Natures Footprint Limited
(Registration number: 07713228)
Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Current assets
Stocks					18,703			17,964
Debtors		4			8,186			2,444
Cash at bank and in hand					10,115			10,473
					37,004			30,881
Creditors: Amounts falling due within one year		5			(16,256)			(9,460)
Total assets less current liabilities					20,748			21,421
Creditors: Amounts falling due after more than one year		6			(50,000)			(50,000)
Net liabilities					(29,252)			(28,579)
Capital and reserves
Called up share capital		7			100			100
Profit and loss account		8			(29,352)			(28,679)
Shareholders' deficit					(29,252)			(28,579)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 December 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.

Approved and authorised for issue by the Board on 3 August 2015 and signed on its behalf by:

.........................................
Mr A D Betley
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

Natures Footprint Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The financial statements 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 which relies on the continued support of the parent company.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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.

Foreign currency

Forign currencies are converted at the rate of exchange at the time of the transaction. Any exchange differences that may arise are charged to the Profit & Loss Account as they arise.

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.

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.

Page 6

Natures Footprint Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

2

Turnover

During the year 19.85% of the company's turnover related to exports (2013 - 63.14%).

3	Operating loss

Operating loss is stated after charging:

		2014 £			2013 £
Foreign currency losses		-			21

4

Debtors

		2014 £			2013 £
Trade debtors		5,184			2,370
Other debtors		3,002			74
		8,186			2,444

5	Creditors: Amounts falling due within one year

		2014 £			2013 £
Trade creditors		203			1,216
Amounts owed to group undertakings and undertakings in which the company has a participating interest		14,702			6,892
Other creditors		1,351			1,352
		16,256			9,460

6	Creditors: Amounts falling due after more than one year

		2014 £			2013 £
Amounts owed to group undertakings and undertakings in which the company has a participating interest		50,000			50,000

Page 7

Natures Footprint Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

7	Share capital

Allotted, called up and fully paid shares

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

8

Reserves

		Profit and loss account £			Total £
At 1 January 2014		(28,679)			(28,679)
Loss for the year		(673)			(673)
At 31 December 2014		(29,352)			(29,352)

9	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr RB Rhoads
Directors current account	1,351	-	1,351	-

10

Control

The company is controlled by Nature's Footprint, Inc. The parent company is a corporation incorporated in the United States of America and controls 100% of the share capital of the company through the main director (Mr R B Rhoads) who is also an officer of and major shareholder in Nature's Footprint, Inc..

Page 8