Cake UK Limited - Period Ending 2015-06-29

Registration number: 06871205

Cake UK Limited

Unaudited Abbreviated Accounts

for the Period from 1 July 2014 to 29 June 2015

 

G W Kelly & Company
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Merseyside
CH62 3QG

Cake UK Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cake UK Limited
for the Period Ended 29 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cake UK Limited for the period ended 29 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at icas.org.uk/Ethics.

This report is made solely to the Board of Directors of Cake UK Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cake UK Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icas.org.uk/Ethics. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cake UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cake UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cake UK Limited. You consider that Cake UK Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Cake UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

G W Kelly & Company
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Merseyside
CH62 3QG

23 June 2016

Page 1

Cake UK Limited
(Registration number: 06871205)
Abbreviated Balance Sheet at 29 June 2015

		Note			29 June 2015 £			30 June 2014 £
Fixed assets
Tangible fixed assets					781			127
Current assets
Stocks					2,500			2,500
Debtors					14,582			14,821
Cash at bank and in hand					-			1,535
					17,082			18,856
Creditors: Amounts falling due within one year					(17,775)			(18,975)
Net current liabilities					(693)			(119)
Net assets					88			8
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					86			6
Shareholders' funds					88			8

For the year ending 29 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 her 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 23 June 2016

.........................................
Mrs Julie Colegate-Smith
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Cake UK Limited
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 29 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).

Turnover

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

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortization is provided on intangible 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	Amortisation method and rate
Goodwill	Over five years

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
Plant & Machinery	33% on cost
Office equipment	33% on cost

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 3

Cake UK Limited
Notes to the Abbreviated Accounts for the Period from 1 July 2014 to 29 June 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		46,354			8,085			54,439
Additions		-			1,150			1,150
At 29 June 2015		46,354			9,235			55,589
Depreciation
At 1 July 2014		46,354			7,958			54,312
Charge for the period		-			496			496
At 29 June 2015		46,354			8,454			54,808
Net book value
At 29 June 2015		-			781			781
At 30 June 2014		-			127			127

3	Share capital

Allotted, called up and fully paid shares

	29 June 2015						30 June 2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

4	Related party transactions

Directors' advances and credits

	1 July 2014 to 29 June 2015 Advance/ Credit £	1 July 2014 to 29 June 2015 Repaid £	Year ended 30 June 2014 Advance/ Credit £	Year ended 30 June 2014 Repaid £
Mrs Julie Colegate-Smith
Interest free loan	6,617	6,889	6,889	3,218
Mr T P Colegate-Smith
Interest free loan	6,617	6,889	6,889	3,218

Page 4