Black Garlic (UK) Limited - Period Ending 2015-12-31

Registration number: 07350552

Black Garlic (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Black Garlic (UK) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Registration number: 07350552

Black Garlic (UK) Limited
Balance Sheet as at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			1,348			1,540
Current assets
Stocks					27,493			25,196
Debtors					59,784			58,339
Cash at bank and in hand					3,500			3,980
					90,777			87,515
Creditors: Amounts falling due within one year		3			(71,041)			(126,877)
Net current assets/(liabilities)					19,736			(39,362)
Total assets less current liabilities					21,084			(37,822)
Creditors: Amounts falling due after more than one year		3			(80,000)			-
Net liabilities					(58,916)			(37,822)
Capital and reserves
Called up share capital		4			100			1
Profit and loss account					(59,016)			(37,823)
Shareholders' deficit					(58,916)			(37,822)

For the year ended 31 December 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the director on 19 September 2016

A K Pringle
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Black Garlic (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the production and sale of black garlic to customers.

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
Office equipment	33% Straight Line
Funiture and fixtures	33% Straight Line
Plant and Machinery	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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		2,220			2,220
Additions		361			361
At 31 December 2015		2,581			2,581
Depreciation
At 1 January 2015		680			680
Charge for the year		553			553
At 31 December 2015		1,233			1,233
Net book value
At 31 December 2015		1,348			1,348
At 31 December 2014		1,540			1,540

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

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Black Garlic (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

		2015 £			2014 £
Amounts falling due within one year		23,988			18,532

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		-			-			1			1
Ordinary A shares of £0.01 (2014 - £0.00) each		3,400			34			-			-
Ordinary B shares of £0.01 (2014 - £0.00) each		3,620			36			-			-
Ordinary C shares of £0.01 (2014 - £0.00) each		1,190			12			-			-
Ordinary D shares of £0.01 (2014 - £0.00) each		150			2			-			-
Ordinary E shares of £0.01 (2014 - £0.00) each		250			3			-			-
Ordinary F shares of £0.01 (2014 - £0.00) each		970			10			-			-
Ordinary G shares of £0.01 (2014 - £0.00) each		420			4			-			-
		10,000			100			1			1

New shares allotted

During the year 99 Ordinary shares having an aggregate nominal value of £99 were allotted for an aggregate consideration of £99.

During the year the company sub-divided the Ordinary £1 shares into 10,000 1p shares. The shares were then redesignated into different classes.

Page 3

Black Garlic (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

5

Control

No one person ultimately owns the company.

Page 4