Great Taste Publications Limited - Period Ending 2014-12-31

 
 
 
 
 
 
 
  Great Taste Publications Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 December 2014
 
  Company Registration Number: 07061066

Great Taste Publications Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Great Taste Publications Limited
Abbreviated Balance Sheet
31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets		2			131,250			140,000
Current assets
Debtors					429,077			309,837
Cash at bank and in hand					52,428			37,322
					481,505			347,159
Creditors: Amounts falling due within one year					(516,344)			(368,726)
Net current liabilities					(34,839)			(21,567)
Total assets less current liabilities					96,411			118,433
Creditors: Amounts falling due after more than one year					(76,500)			(94,500)
Net assets					19,911			23,933
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					19,910			23,932
Shareholders' funds					19,911			23,933

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Great Taste Publications Limited
Abbreviated Balance Sheet
31 December 2014 ......... continued

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 .

Approved by the director on 28 September 2015

J R Farrand
Director

Company Registration Number: 07061066

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

Great Taste Publications Limited
Notes to the Abbreviated Accounts
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 the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Publishing rights

All intangible fixed asset are initally recorded at cost.

Amortisation

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

Asset class	Amortisation method and rate
Publishing Rights	Straight line over 20 years

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Page 3

Great Taste Publications Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2014 ......... continued

2	Fixed assets

		Intangible assets £			Total £
Cost
At 1 January 2014		175,000			175,000
At 31 December 2014		175,000			175,000
Depreciation
At 1 January 2014		35,000			35,000
Charge for the year		8,750			8,750
At 31 December 2014		43,750			43,750
Net book value
At 31 December 2014		131,250			131,250
At 31 December 2013		140,000			140,000

3

Creditors

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

		2014 £			2013 £
Amounts falling due within one year		18,000			18,000
Amounts falling due after more than one year		76,500			94,500
Total secured creditors		94,500			112,500

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		4,500			22,500

4	Share capital

Allotted, called up and fully paid shares

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

Page 4