Abbreviated Company Accounts - OWEN'S FOOD STORE LIMITED

OWEN'S FOOD STORE LIMITED - Company Information

07362829 OWEN'S FOOD STORE LIMITED 2015-08-31 false 2014-09-01 2015-08-31 true 07362829 2014-09-01 2015-08-31 07362829 2015-08-31 07362829 2014-08-31 07362829 uk-gaap-cd-bus:Director1 2014-09-01 2015-08-31 07362829 uk-gaap-cd-bus:Director2 2014-09-01 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-01 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 iso4217:GBP shares

Registered Number 07362829

OWEN'S FOOD STORE LIMITED

Abbreviated Accounts

31 August 2015

OWEN'S FOOD STORE LIMITED Registered Number 07362829

Abbreviated Balance Sheet as at 31 August 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	78,656	88,903
		78,656	88,903
Current assets
Stocks		24,994	25,568
Cash at bank and in hand		19,806	8,229
		44,800	33,797
Creditors: amounts falling due within one year		(108,920)	(85,501)
Net current assets (liabilities)		(64,120)	(51,704)
Total assets less current liabilities		14,536	37,199
Creditors: amounts falling due after more than one year		(14,420)	(19,886)
Total net assets (liabilities)		116	17,313
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		16	17,213
Shareholders' funds		116	17,313

For the year ending 31 August 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 May 2016

And signed on their behalf by:
Simon Owen, Director

OWEN'S FOOD STORE LIMITED Registered Number 07362829

Notes to the Abbreviated Accounts for the period ended 31 August 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
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods provided in the normal course of business. Revenue is generated from the sale of grocery , alcohol products and that of running a cafe. The company recognises revenue when goods and services are sold to customers.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over it's expected useful expected life, as follows:
Leasehold properties - Straight line over the life of the lease
Fixtures, fittings and equipment - 25% Reducing balance basis

Valuation information and policy
Stock is valued at the lower of cost and net realisable value on a first in first out basis.

Other accounting policies
These accounts have been prepared on a going concern basis on the grounds that the directors of the company will not request repayment of the amount due to them until the company has funds available to meet its other debts and liabilities as and when they fall due.

2Tangible fixed assets

	£
Cost
At 1 September 2014	130,230
Additions	1,020
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2015	131,250
Depreciation
At 1 September 2014	41,327
Charge for the year	11,267
On disposals	-
At 31 August 2015	52,594
Net book values
At 31 August 2015	78,656
At 31 August 2014	88,903

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100