ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

LILWALLS HOG ROASTS LIMITED - Company Information

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Registered number: 06542426










LILWALLS HOG ROASTS LTD








UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2015
 
LILWALLS HOG ROASTS LTD
 
 
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LILWALLS HOG ROASTS LTD
FOR THE YEAR ENDED 30 APRIL 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lilwalls Hog Roasts Ltd for the year ended 30 April 2015 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

As a 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/regulations.


This report is made solely to the Board of directors of Lilwalls Hog Roasts Ltd, as a body, in accordance with the terms of our engagement letter dated November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Lilwalls Hog Roasts Ltd and state those matters that we have agreed to state to the Board of directors of Lilwalls Hog Roasts Ltd, 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 Lilwalls Hog Roasts Ltd and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Lilwalls Hog Roasts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that Lilwalls Hog Roasts Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Lilwalls Hog Roasts Ltd. 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 financial statements.





M+A Partners (North Norfolk) Ltd
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER

16 December 2015
Page 1
 
LILWALLS HOG ROASTS LTD
REGISTERED NUMBER: 06542426

ABBREVIATED BALANCE SHEET
AS AT 30 APRIL 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Intangible assets
 
2
19,575

26,100
 
Tangible assets
 
3
384,681
107,145







404,256

133,245
 
CURRENT ASSETS





 
Stocks
178,780
176,004

 
Debtors
29,855
48,165

 
Cash at bank and in hand

2,377
42,338







 
211,012
266,507
 
CREDITORS: amounts falling due within one year
(171,213)
(149,096)
 
NET CURRENT ASSETS


39,799

117,411
 
TOTAL ASSETS LESS CURRENT LIABILITIES
444,055
250,656
 
CREDITORS: amounts falling due after more than one year
(414,874)

(205,545)

NET ASSETS




£29,181


£45,111
  
CAPITAL AND RESERVES

 
Called up share capital
4
100
100
 
Profit and loss account
29,081
45,011
 
SHAREHOLDERS' FUNDS
 

£29,181

£45,111


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 April 2015 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.


Page 2
 
LILWALLS HOG ROASTS LTD
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 APRIL 2015

The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 16 December 2015.





Mr R Lilwall
Mrs D Lilwall
Director
Director

The notes on pages 4 to 5 form part of these financial statements.

Page 3
 
LILWALLS HOG ROASTS LTD
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Cash flow

The financial statements do not include a Cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.4
Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic life.

1.5
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Buildings
-
10% straight line
Plant and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance


2.INTANGIBLE FIXED ASSETS



£


Cost



At 1 May 2014 and 30 April 2015

70,500

Amortisation


At 1 May 2014
44,400

Charge for the year
6,525


At 30 April 2015

50,925




Net book value


At 30 April 2015
£19,575


At 30 April 2014

£26,100

Page 4
 
LILWALLS HOG ROASTS LTD
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015

3.TANGIBLE FIXED ASSETS



£


Cost 


At 1 May 2014
141,003

Additions
386,913

Disposals
(74,585)


At 30 April 2015

453,331



Depreciation


At 1 May 2014
33,858

Charge for the year
34,792


At 30 April 2015

68,650




Net book value


At 30 April 2015
£384,681


At 30 April 2014

£107,145


4.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



100 Ordinary shares of £1 each
£100
£100

Page 5