Abbreviated Company Accounts - TURNER'S PIES LIMITED

TURNER'S PIES LIMITED - Company Information

08005434 TURNER'S PIES LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 08005434 2014-04-01 2015-03-31 08005434 2015-03-31 08005434 2014-03-31 08005434 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 08005434 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:Director3 2014-04-01 2015-03-31 uk-gaap-cd-bus:Director3 2015-03-31 uk-gaap-cd-bus:Director3 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 08005434

TURNER'S PIES LIMITED

Abbreviated Accounts

31 March 2015

TURNER'S PIES LIMITED Registered Number 08005434

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	48,000	54,000
Tangible assets	3	82,777	21,287
		130,777	75,287
Current assets
Stocks		7,320	4,216
Debtors	4	26,735	9,328
Cash at bank and in hand		128,508	27,389
		162,563	40,933
Prepayments and accrued income		7,075	5,603
Creditors: amounts falling due within one year	5	(74,305)	(39,185)
Net current assets (liabilities)		95,333	7,351
Total assets less current liabilities		226,110	82,638
Creditors: amounts falling due after more than one year	5	(65,286)	(2,817)
Provisions for liabilities		(12,974)	-
Accruals and deferred income		(19,749)	(7,221)
Total net assets (liabilities)		128,101	72,600
Capital and reserves
Called up share capital	6	1,000	1,000
Share premium account		60,000	60,000
Profit and loss account		67,101	11,600
Shareholders' funds		128,101	72,600

For the year ending 31 March 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 24 November 2015

And signed on their behalf by:
Mr.P.T.Turner, Director

TURNER'S PIES LIMITED Registered Number 08005434

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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 January 2015

Turnover policy
Turnover represents the value, net of value added tax, of goods provided to UK customers.

Tangible assets depreciation policy
Depreciation is provided on all tangible assets at rates calculated to write off the cost. less estimated residual value, of each asset evenly over its estimated useful life, as follows:
Leasehold Improvements: Over the lease term
Plant, machinery and equipment: 20% on the reducing net value; and
Motor vehicle: 25% Straight Line

Intangible assets amortisation policy
Goodwill is written off in equal instalments over its estimated economic life.

Other accounting policies
Deferred Taxation:Full provision is made for deferred taxation resulting from timing differences between the recognition of gains or losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts are those where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the Balance Sheet and depreciated over their estimated useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease or hire purchase contracts and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line over the lease term.

2Intangible fixed assets

	£
Cost
At 1 April 2014	60,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	60,000
Amortisation
At 1 April 2014	6,000
Charge for the year	6,000
On disposals	-
At 31 March 2015	12,000
Net book values
At 31 March 2015	48,000
At 31 March 2014	54,000

Goodwill is written off in equal annual instalments over its estimated economic life of 10 years.

3Tangible fixed assets

	£
Cost
At 1 April 2014	33,228
Additions	81,991
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	115,219
Depreciation
At 1 April 2014	11,941
Charge for the year	20,501
On disposals	-
At 31 March 2015	32,442
Net book values
At 31 March 2015	82,777
At 31 March 2014	21,287

The net book value of plant, machinery and equipment and motor vehicle included above held under finance lease and hire purchase contracts is 2015 £21,214 2014 £5116
The Director has provided personal guarantees in respect of finance lease and hire purchase contracts.

4Debtors

There are no debts due after 5 years

5Creditors

	2015 £	2014 £
Secured Debts	11,189	0
Instalment debts due after 5 years	22,500	0
Non-instalment debts due after 5 years	0	0

6Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000

7Transactions with directors

Name of director receiving advance or credit:	Mr.P.T.Turner
Description of the transaction:	Cash Advances in year
Balance at 1 April 2014:	£ 19
Advances or credits made:	£ 26,129
Advances or credits repaid:	£ 22,019
Balance at 31 March 2015:	£ 4,129

The overdrawn loan account was repaid on 30th April 2015.