Butterfly Snacks Limited - Period Ending 2015-05-31

Registration number: 05452288

Butterfly Snacks Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

A.Y.A ACCOUNTANTS
82 Blackburn Road
Accrington
Lancashire
BB5 1LL

Butterfly Snacks Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Butterfly Snacks Limited
(Registration number: 05452288)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					22,202			8,956
Current assets
Stocks					3,886			5,137
Debtors					4,276			3,638
Cash at bank and in hand					1,799			5,092
					9,961			13,867
Creditors: Amounts falling due within one year					(10,665)			(25,696)
Net current liabilities					(704)			(11,829)
Net assets/(liabilities)					21,498			(2,873)
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					21,298			(3,073)
Shareholders' funds/(deficit)					21,498			(2,873)

For the year ending 31 May 2015 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 11 August 2015 and signed on its behalf by:

.........................................
Mr Majid Rehman
Director

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

Butterfly Snacks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... 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 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
Plant and Machinery	20% reducing balance
Fixture and Fittings	20% reducing balance
Office equipment	20% reducing balance
Motor vehicles	205 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.

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 2

Butterfly Snacks Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		23,309			23,309
Additions		18,500			18,500
At 31 May 2015		41,809			41,809
Depreciation
At 1 June 2014		14,353			14,353
Charge for the year		5,254			5,254
At 31 May 2015		19,607			19,607
Net book value
At 31 May 2015		22,202			22,202
At 31 May 2014		8,956			8,956

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary £1 Shares of £1 each		200			200			200			200

Page 3