Chandra Foods Ltd - Abbreviated accounts 16.1
Chandra Foods Ltd - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 July 2016 |
| for |
| Chandra Foods Ltd |
| Chandra Foods Ltd (Registered number: 08131953) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chandra Foods Ltd |
| Company Information |
| for the Year Ended 31 July 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandra Foods Ltd (Registered number: 08131953) |
| Abbreviated Balance Sheet |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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. |
| Chandra Foods Ltd (Registered number: 08131953) |
| Abbreviated Balance Sheet - continued |
| 31 July 2016 |
| The financial statements were approved by the Board of Directors on by: |
| Chandra Foods Ltd (Registered number: 08131953) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 July 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis. In assessing whether the going concern |
| assumption is appropriate, the directors have taken into account all relevant information about the future |
| trading including profit and cash forecasts. The business is cash generative and this is expected to continue. |
| It is therefore considered appropriate to adopt the going concern basis of accounting in the preparation of the |
| financial statements. |
| Accounting convention |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies |
| as a small company. |
| Turnover |
| Turnover represents sales of goods net of VAT and trade discounts and sales commissions. Turnover is |
| recognised when the goods are physically delivered to the customers. |
| Goodwill |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is valued at the lower of cost and not realisable value. Cost is determined on first in/fist out basis. Net |
| realisable value represents estimated sellling price less costs to complete and sell. Provisions are made for |
| slow moving obsolete and damaged stock where the net realisable value is less than the cost. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under |
| finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. |
| The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over |
| the period of the lease. |
| Going concern |
| At the balance sheet date the company had net current liabilities and net liabilities amounting to £347,942 |
| (2015: £384,821) and £172,034 (2015: £180,846) respectively . The company is dependant upon the support |
| of its creditors which the directors believe will continue. It is on the basis, in the opinion of the directors it is |
| appropriate to prepare financial statements on a going concern basis. |
| Chandra Foods Ltd (Registered number: 08131953) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 July 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| and 31 July 2016 |
| AMORTISATION |
| At 1 August 2015 |
| Amortisation for year |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1 |