Sippa Coffee Limited - Period Ending 2015-06-30

Registration number: SC208114

Sippa Coffee Limited

trading as Sippa Coffee Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Sippa Coffee Limited
trading as Sippa Coffee Ltd
(Registration number: SC208114)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					300			400
Current assets
Stocks					300			300
Debtors					-			192
Cash at bank and in hand					3,483			4,624
					3,783			5,116
Creditors: Amounts falling due within one year					(47,607)			(51,568)
Net current liabilities					(43,824)			(46,452)
Net liabilities					(43,524)			(46,052)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(43,526)			(46,054)
Shareholders' deficit					(43,524)			(46,052)

For the year ending 30 June 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 director acknowledges his 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 director on 17 February 2016

.........................................
K McGhee
Director

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

Sippa Coffee Limited
trading as Sippa Coffee Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 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

The financial statements have been prepared on a going concern basis. The validity of this is dependent on the support of the company's director.

Turnover

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

Depreciation

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

Asset class	Depreciation method and rate
Short Leasehold	at variable rates on reducing balance
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

Sippa Coffee Limited
trading as Sippa Coffee Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		33,001			33,001
At 30 June 2015		33,001			33,001
Depreciation
At 1 July 2014		32,601			32,601
Charge for the year		100			100
At 30 June 2015		32,701			32,701
Net book value
At 30 June 2015		300			300
At 30 June 2014		400			400

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3