Pata Negra Spanish Food Ltd - Period Ending 2016-03-31

Registration number: 09477785

Pata Negra Spanish Food Ltd

Unaudited Abbreviated Accounts

for the Period from 9 March 2015 to 31 March 2016

 

Pata Negra Spanish Food Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Pata Negra Spanish Food Ltd
(Registration number: 09477785)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £
Fixed assets
Tangible fixed assets					8,987
Current assets
Stocks					8,484
Debtors					17,290
Cash at bank and in hand					12,792
					38,566
Creditors: Amounts falling due within one year					(48,690)
Net current liabilities					(10,124)
Total assets less current liabilities					(1,137)
Provisions for liabilities					(630)
Net liabilities					(1,767)
Capital and reserves
Called up share capital		3			100
Profit and loss account					(1,867)
Shareholders' deficit					(1,767)

For the year ending 31 March 2016 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 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 .

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

Mrs C Letaillieur
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Pata Negra Spanish Food Ltd
Notes to the Abbreviated Accounts for the Period from 9 March 2015 to 31 March 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	25% Straight line
Motor vehicles	25% Straight line

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.

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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Pata Negra Spanish Food Ltd
Notes to the Abbreviated Accounts for the Period from 9 March 2015 to 31 March 2016
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		11,290			11,290
At 31 March 2016		11,290			11,290
Depreciation
Charge for the period		2,303			2,303
At 31 March 2016		2,303			2,303
Net book value
At 31 March 2016		8,987			8,987

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary of £1 each		100			100

4

Control

The company is controlled by Mr D Duran , a Director, due to owning 75% of the issued share capital.

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