Matisse Spirits Company Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC268162 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Matisse Spirits Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

C Sen-Ho

SECRETARY:

J Crilly

REGISTERED OFFICE:

Westpoint

4 Redheughs Rigg

Edinburgh

EH12 9DQ

REGISTERED NUMBER:

SC268162 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

2

413

3,101

CURRENT ASSETS

Stocks

21,438

45,117

Debtors

3

1,019,711

858,939

Cash at bank and in hand

651,743

818,033

1,692,892

1,722,089

CREDITORS

Amounts falling due within one year

921,014

966,219

NET CURRENT ASSETS

771,878

755,870

TOTAL ASSETS LESS CURRENT
LIABILITIES

772,291

758,971

PROVISIONS FOR LIABILITIES

83

620

NET ASSETS

772,208

758,351

CAPITAL AND RESERVES

Called up share capital

4

250,000

Retained earnings

522,208

508,351

SHAREHOLDERS' FUNDS

772,208

758,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 17 March 2016 and were signed by:

C Sen-Ho - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement in accordance with the Financial Reporting Standard

for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing

differences which result in a obligation to pay more (or less) tax at a future date, at an average tax rate that are expected

to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

34,860

Additions

164

At 31 December 2015

35,024

DEPRECIATION

At 1 January 2015

31,759

Charge for year

2,852

At 31 December 2015

34,611

NET BOOK VALUE

At 31 December 2015

413

At 31 December 2014

3,101

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 2,238 (31.12.14 - £ 2,238 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

250,000

Ordinary

£1

250,000