Abbreviated Company Accounts - BASIL AND THYME LIMITED

BASIL AND THYME LIMITED - Company Information

Registered Number 08179736

BASIL AND THYME LIMITED

Abbreviated Accounts

31 May 2015

BASIL AND THYME LIMITED Registered Number 08179736

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	6,600	9,900
Tangible assets	3	160,206	165,799
		166,806	175,699
Current assets
Stocks		2,796	3,105
Debtors		28,984	26,772
Cash at bank and in hand		127,481	117,523
		159,261	147,400
Creditors: amounts falling due within one year		(235,229)	(193,811)
Net current assets (liabilities)		(75,968)	(46,411)
Total assets less current liabilities		90,838	129,288
Total net assets (liabilities)		90,838	129,288
Capital and reserves
Called up share capital		210,000	210,000
Profit and loss account		(119,162)	(80,712)
Shareholders' funds		90,838	129,288

For the year ending 31 May 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 19 February 2016

And signed on their behalf by:
Parakh Gandhi, Director

BASIL AND THYME LIMITED Registered Number 08179736

Notes to the Abbreviated Accounts for the period ended 31 May 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 April 2008.

Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax..

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets in use at the rate
calculated to write off the cost or valuation, less estimated residual value
of each asset over its expected useful life, as follows:

Office equipment 20% reducing balance

Intangible assets amortisation policy
Franchise fee is amortised over five years

2Intangible fixed assets

	£
Cost
At 1 June 2014	16,500
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	16,500
Amortisation
At 1 June 2014	6,600
Charge for the year	3,300
On disposals	-
At 31 May 2015	9,900
Net book values
At 31 May 2015	6,600
At 31 May 2014	9,900

3Tangible fixed assets

	£
Cost
At 1 June 2014	182,188
Additions	356
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2015	182,544
Depreciation
At 1 June 2014	16,389
Charge for the year	5,949
On disposals	-
At 31 May 2015	22,338
Net book values
At 31 May 2015	160,206
At 31 May 2014	165,799