UPNORTH_FOODSERVICE_EQUIP - Accounts

GASTRONORTH LIMITED - Company Information

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Company Registration No. 04592659 (England and Wales)

UPNORTH FOODSERVICE EQUIPMENT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

UPNORTH FOODSERVICE EQUIPMENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

UPNORTH FOODSERVICE EQUIPMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

19,461

17,600

Current assets

Stocks

45,078

54,929

Debtors

2,419,030

1,035,696

2,464,108

1,090,625

Creditors: amounts falling due within one year

(1,441,407)

(510,068)

Net current assets

1,022,701

580,557

Total assets less current liabilities

1,042,162

598,157

Creditors: amounts falling due after more than one year

(267)

Provisions for liabilities

(1,460)

(619)

1,040,702

597,271

Capital and reserves

Called up share capital

390

Profit and loss account

1,040,312

596,881

Shareholders' funds

1,040,702

597,271

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 December 2015

Mr S A Grierson

Mr R Toye

Director

Company Registration No. 04592659

UPNORTH FOODSERVICE EQUIPMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

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 less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% reducing balance and 33.3% straight line

Motor vehicles

20% straight line

1.4

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2014

103,081

Additions

10,201

At 31 March 2015

113,282

Depreciation

At 1 April 2014

85,481

Charge for the year

8,340

At 31 March 2015

93,821

Net book value

At 31 March 2015

19,461

At 31 March 2014

17,600

Share capital

2015

2014

Allotted, called up and fully paid

390 ordinary shares of £1 each

390

UPNORTH FOODSERVICE EQUIPMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Related party relationships and transactions

Included in other debtors is a directors loan account balance of £14,805 (2014: £9,088 credit) due from R Toye, a balance of £15,119 (2014: £8,775 credit) due from T Whitfield and a balance of £14,898 (2014: £8,996 credit) due from S Grierson.

The overdrawn balances have been repaid after the year end with a dividend voted on 13 April 2015.