Abbreviated Company Accounts - ISLAND SALADS LTD

NI051821 ISLAND SALADS LTD 2014-12-31 false 2014-01-01 2014-12-31 true NI051821 2014-01-01 2014-12-31 NI051821 2014-12-31 NI051821 2013-12-31 NI051821 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 NI051821 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:Director3 2014-01-01 2014-12-31 uk-gaap-cd-bus:Director3 2014-12-31 uk-gaap-cd-bus:Director3 2013-12-31 uk-gaap-cd-bus:Director4 2014-01-01 2014-12-31 uk-gaap-cd-bus:Director4 2014-12-31 uk-gaap-cd-bus:Director4 2013-12-31 iso4217:GBP shares

Registered Number NI051821

ISLAND SALADS LTD

Abbreviated Accounts

31 December 2014

ISLAND SALADS LTD Registered Number NI051821

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	216,000	216,000
Tangible assets	3	461,413	258,720
		677,413	474,720
Current assets
Stocks		45,500	45,685
Debtors		545,875	555,190
Cash at bank and in hand		715,305	844,139
		1,306,680	1,445,014
Creditors: amounts falling due within one year		(496,765)	(527,195)
Net current assets (liabilities)		809,915	917,819
Total assets less current liabilities		1,487,328	1,392,539
Creditors: amounts falling due after more than one year		(9,874)	(16,832)
Total net assets (liabilities)		1,477,454	1,375,707
Capital and reserves
Called up share capital		2	2
Other reserves		26,811	50,812
Profit and loss account		1,450,641	1,324,893
Shareholders' funds		1,477,454	1,375,707

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

Approved by the Board on 20 April 2015

And signed on their behalf by:
Conor Maguire, Director
Patrick Maguire, Director

ISLAND SALADS LTD Registered Number NI051821

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at the following rates:
Land & Buildings- straight line over 50 years
Plant & Machinery- 20% reducing balance
Fixtures, fittings & equipment- 15% reducing balance
Motor Vehicles- 25% reducing balance

Intangible assets amortisation policy
Goodwill is carried at cost in the Balance Sheet and tested annually for impairment.

2Intangible fixed assets

	£
Cost
At 1 January 2014	216,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	216,000
Amortisation
At 1 January 2014	-
Charge for the year	-
On disposals	-
At 31 December 2014	-
Net book values
At 31 December 2014	216,000
At 31 December 2013	216,000

3Tangible fixed assets

	£
Cost
At 1 January 2014	866,984
Additions	246,499
Disposals	(24,000)
Revaluations	-
Transfers	-
At 31 December 2014	1,089,483
Depreciation
At 1 January 2014	608,264
Charge for the year	43,806
On disposals	(24,000)
At 31 December 2014	628,070
Net book values
At 31 December 2014	461,413
At 31 December 2013	258,720

4Transactions with directors

Name of director receiving advance or credit:	Conor Maguire
Description of the transaction:	Director Loan
Balance at 1 January 2014:	£ 26,099
Advances or credits made:	-
Advances or credits repaid:	£ 26,099
Balance at 31 December 2014:	£ 0

Name of director receiving advance or credit:	Patrick Maguire
Description of the transaction:	Director Loan
Balance at 1 January 2014:	£ 27,887
Advances or credits made:	-
Advances or credits repaid:	£ 27,887
Balance at 31 December 2014:	£ 0