The Drinks Guild Limited - Period Ending 2015-04-30

Registration number: 03557672

The Drinks Guild Limited
 
 Unaudited Abbreviated Accounts
 
 for the Year Ended 30 April 2015
 

The Drinks Guild Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Drinks Guild Limited
(Registration number: 03557672)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Current assets
Stocks					8,200			9,643
Debtors					8,995			7,861
Cash at bank and in hand					322			50
					17,517			17,554
Creditors: Amounts falling due within one year					(47,376)			(50,615)
Total assets less current liabilities					(29,859)			(33,061)
Creditors: Amounts falling due after more than one year					(16,200)			(12,800)
Net liabilities					(46,059)			(45,861)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(46,159)			(45,961)
Shareholders' deficit					(46,059)			(45,861)

For the year ending 30 April 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 27 January 2016 and signed on its behalf by:

.........................................
A C Gard
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

The Drinks Guild Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

At 30 April 2015, the company's balance sheet showed a deficit on shareholder's funds of £46,059. The company is dependent for its day to day working capital on the support of its directors. The directors consider that this support will continue for a period of twelve months from the date of approval of these accounts. The directors therefore believe that it is appropriate to prepare these accounts on a going concern basis and no adjustments have been made which would require to be made if that basis were to be inappropriate.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	Straight line @ 33%

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

The Drinks Guild Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		749			749
At 30 April 2015		749			749
Depreciation
At 1 May 2014		749			749
At 30 April 2015		749			749
Net book value
At 30 April 2015		-			-
At 30 April 2014		-			-

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		-			9,960

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3