Simply Coffee Systems Limited - Period Ending 2016-01-31

Registration number: 07118512

Simply Coffee Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Simply Coffee Systems Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Simply Coffee Systems Limited
(Registration number: 07118512)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					280,373			413,856
Current assets
Debtors					144,934			162,201
Cash at bank and in hand					55,518			19,528
					200,452			181,729
Creditors: Amounts falling due within one year					(447,286)			(482,862)
Net current liabilities					(246,834)			(301,133)
Total assets less current liabilities					33,539			112,723
Provisions for liabilities					(28,905)			(35,276)
Net assets					4,634			77,447
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					3,634			76,447
Shareholders' funds					4,634			77,447

For the year ending 31 January 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the Board on 19 September 2016 and signed on its behalf by:

Mr S Rowe
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Simply Coffee Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... 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 sale of goods and services 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
Plant and machinery	20% straight line basis
Fixtures and fittings	20% straight line basis
Motor vehicles	20% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Assets held for use in operating leases are included as a separate category in fixed assets at cost and depreciated over their useful life. Rental income from operating leases is recognised on a straight line basis over the term of the lease.

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 2

Simply Coffee Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		1,075,157			1,075,157
Additions		30,384			30,384
Disposals		(8,333)			(8,333)
At 31 January 2016		1,097,208			1,097,208
Depreciation
At 1 February 2015		661,301			661,301
Charge for the year		157,201			157,201
Eliminated on disposals		(1,667)			(1,667)
At 31 January 2016		816,835			816,835
Net book value
At 31 January 2016		280,373			280,373
At 31 January 2015		413,856			413,856

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
£1 ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 3