Preseli Bluestone Meats Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06821796 (England and Wales)

PRESELI BLUESTONE MEATS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

32,020

36,080

32,020

36,080

CURRENT ASSETS

Stocks

19,803

18,812

Debtors

59,595

45,086

Cash in hand

496

154

79,894

64,052

CREDITORS

Amounts falling due within one year

4

614,267

611,798

NET CURRENT LIABILITIES

(534,373

)

(547,746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(502,353

)

(511,666

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

(502,354

)

(511,667

)

SHAREHOLDERS' FUNDS

(502,353

)

(511,666

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 17 December 2015 and were signed by:

Mr J L Rees - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has reported a significant loss for the year and has net current liabilities at the balance

sheet date. The company is reliant on the ongoing support of its director, Mr J L Rees and a related

party whereby they will continue to provide funding until such time that the company has reported

sufficient profits to fund its working capital requirements.

The director has a reasonable expectation that the company has access to adequate funding for it to

continue trading for the foreseeable future and as a result of this, the director continues to adopt the

going concern basis of accounting.

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

10,000

AMORTISATION

At 1 April 2014

and 31 March 2015

10,000

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

71,943

Additions

3,400

At 31 March 2015

75,343

DEPRECIATION

At 1 April 2014

35,863

Charge for year

7,460

At 31 March 2015

43,323

NET BOOK VALUE

At 31 March 2015

32,020

At 31 March 2014

36,080

4.

CREDITORS

Creditors include an amount of £ 39,307 (2014 - £ 55,767 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1