Abbreviated Company Accounts - SCARAMOUCHE AND FANDANGO LIMITED

WATERMARK HOLDINGS LIMITED - Company Information

07369287 SCARAMOUCHE AND FANDANGO LIMITED 2014-12-31 false 2013-10-01 2014-12-31 true 07369287 2013-10-01 2014-12-31 07369287 2014-12-31 07369287 2013-09-30 07369287 uk-gaap-cd-bus:Director1 2013-10-01 2014-12-31 07369287 uk-gaap-cd-bus:Director2 2013-10-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-30 uk-gaap-cd-bus:OrdinaryShareClass2 2013-10-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-09-30 iso4217:GBP shares

Registered Number 07369287

SCARAMOUCHE AND FANDANGO LIMITED

Abbreviated Accounts

31 December 2014

SCARAMOUCHE AND FANDANGO LIMITED Registered Number 07369287

Abbreviated Balance Sheet as at 31 December 2014

	Notes	31/12/2014	30/09/2013
		£	£
Fixed assets
Intangible assets	2	2,336	-
Tangible assets	3	7,387	3,161
		9,723	3,161
Current assets
Stocks		50,914	46,577
Debtors		104,842	28,291
Cash at bank and in hand		78,329	5,347
		234,085	80,215
Creditors: amounts falling due within one year		(225,514)	(130,890)
Net current assets (liabilities)		8,571	(50,675)
Total assets less current liabilities		18,294	(47,514)
Total net assets (liabilities)		18,294	(47,514)
Capital and reserves
Called up share capital	4	930	100
Share premium account		268,083	0
Profit and loss account		(250,719)	(47,614)
Shareholders' funds		18,294	(47,514)

For the year ending 31 December 2014 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 31 December 2015

And signed on their behalf by:
K Harmel, Director

SCARAMOUCHE AND FANDANGO LIMITED Registered Number 07369287

Notes to the Abbreviated Accounts for the period ended 31 December 2014

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 April 2008.

Turnover policy
Turnover represents amounts receivable for male grooming products net of VAT and trade discounts.

Income is recognised in the period in which the service is supplied.

Tangible assets depreciation policy
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:

Computer equipment 25% reducing balance
Fixtures & fittings 25% reducing balance

Intangible assets amortisation policy
The cost of the website development has been capitalised and will be amortised to the profit and loss account over the estimated economic life.

Amortisation is provided at the following rate:

Website development 5 years straight line

Other accounting policies
Stock and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Going concern
During the period the company has made a loss of £203,105 and has continued to trade at a loss after the balance sheet date. Despite this the company is still has net assets of £18,294. There is a directors loan balance of £68,605 included in creditors, that the director has confirmed will not be withdrawn from the company to the detriment of other creditors. Therefore the accounts have been prepared on the going concern basis.

2Intangible fixed assets

	£
Cost
At 1 October 2013	-
Additions	2,920
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	2,920
Amortisation
At 1 October 2013	-
Charge for the year	584
On disposals	-
At 31 December 2014	584
Net book values
At 31 December 2014	2,336
At 30 September 2013	-

3Tangible fixed assets

	£
Cost
At 1 October 2013	4,217
Additions	7,584
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	11,801
Depreciation
At 1 October 2013	1,056
Charge for the year	3,358
On disposals	-
At 31 December 2014	4,414
Net book values
At 31 December 2014	7,387
At 30 September 2013	3,161

4Called Up Share Capital
Allotted, called up and fully paid:

	31/12/2014 £	30/09/2013 £
814,000 A Ordinary shares of £0.001 each (100,000 shares for 30/09/2013)	814	100
116,000 B Ordinary shares of £0.001 each (0 shares for 30/09/2013)	116	0

On 27 October 2013 the company diluted their 100 Ordinary £1.00 shares into 10,000 Ordinary £0.01 shares.

On 27 October 2013 the company issued 59,900 Ordinary £0.01 shares at a price of £0.247 per share. The amounts paid above par are recognised in the share premium account.

On 27 October 2013 the company issued 100 Ordinary £0.01 shares at par value.

On 2 July 2014 the company issued 11,395 Ordinary £0.01 shares at par value.

On 26 September 2014 the company diluted their 81,395 Ordinary £0.01 shares into 813,950 Ordinary £0.001. These shares were subsequently re-designated as Ordinary A £0.001 shares

On 30 October 2014 the company issued 115,610 Ordinary B £0.001 shares for various amounts. The amounts paid above par are recognised in the share premium account