Paleo Chef Limited Small abbreviated accounts

LIFESTYLE CHEF LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 08777931

PALEO CHEF LIMITED

ABBREVIATED ACCOUNTS

30 November 2015

HARRIS & CO CONSULTANTS LTD

Accountants & Tax Advisers

5 Oak Tree Court

Mulberry Drive

Cardiff Gate Business Park

Cardiff

CF23 8RS

PALEO CHEF LIMITED

ABBREVIATED BALANCE SHEET

30 November 2015

	2015	2014
Note	£	£	£
FIXED ASSETS	2
Tangible assets		30,504	11,316
		---------	---------

CURRENT ASSETS

Stocks	3,000		3,000
Debtors	14,596		1,100
Cash at bank and in hand	10,590		7,073
	---------		---------
	28,186		11,173
CREDITORS: Amounts falling due within one year	8,550		5,939
	---------		---------
NET CURRENT ASSETS		19,636	5,234
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		50,140	16,550

CREDITORS: Amounts falling due after more than one year		32,495	22,645

PROVISIONS FOR LIABILITIES	3,529	-
	---------	---------
	14,116	( 6,095)
	---------	---------

CAPITAL AND RESERVES

Called up equity share capital	3		2	2
Profit and loss account		14,114	( 6,097)
		---------	-------
SHAREHOLDERS' FUNDS/(DEFICIT)		14,116	( 6,095)
		---------	-------

For the year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 31 August 2016 , and are signed on their behalf by:

Mari Griffiths Director

Company Registration Number: 08777931

PALEO CHEF LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 NOVEMBER 2015

1. ACCOUNTING POLICIES

Basis of accounting

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

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost .

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings-20% straight line

Equipment-20% straight line

Stocks

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

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 December 2014	11,316
Additions	26,814
	---------
At 30 November 2015	38,130
	---------

DEPRECIATION

Charge for year	7,626
	-------
At 30 November 2015	7,626
	-------

NET BOOK VALUE

At 30 November 2015	30,504
	---------

At 30 November 2014	11,316
	---------

3. SHARE CAPITAL

Allotted, called up and fully paid:

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