Black Garlic (UK) Limited - Period Ending 2014-12-31

Registration number: 07350552

Black Garlic (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Black Garlic (UK) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 07350552

Black Garlic (UK) Limited
Balance Sheet as at 31 December 2014

		Note			31 December 2014 £			31 December 2013 £
Fixed assets
Tangible fixed assets		2			1,540			1,883
Current assets
Stocks					25,196			8,318
Debtors					58,339			36,002
Cash at bank and in hand					3,980			1,789
					87,515			46,109
Creditors: Amounts falling due within one year		3			(126,877)			(74,342)
Net current liabilities					(39,362)			(28,233)
Net liabilities					(37,822)			(26,350)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(37,823)			(26,351)
Shareholders' deficit					(37,822)			(26,350)

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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 22 September 2015

A K Pringle
Director

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

Black Garlic (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the production and sale of black garlic 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
Office equipment	33% Straight Line
Funiture and fixtures	33% Straight Line
Plant and Machinery	25% Reducing Balance

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.

Page 2

Black Garlic (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		1,927			1,927
Additions		293			293
At 31 December 2014		2,220			2,220
Depreciation
At 1 January 2014		44			44
Charge for the year		636			636
At 31 December 2014		680			680
Net book value
At 31 December 2014		1,540			1,540
At 31 December 2013		1,883			1,883

3

Creditors

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

		31 December 2014 £			31 December 2013 £
Amounts falling due within one year		18,532			12,902

4	Share capital

Allotted, called up and fully paid shares

	31 December 2014						31 December 2013
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

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