Abbreviated Company Accounts - PEPPER LANE CHIPPY LIMITED

Abbreviated Company Accounts - PEPPER LANE CHIPPY LIMITED

PEPPER LANE CHIPPY LIMITED - Company Information

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Registered Number 08418750

PEPPER LANE CHIPPY LIMITED

Abbreviated Accounts

28 February 2016

PEPPER LANE CHIPPY LIMITED Registered Number 08418750

Abbreviated Balance Sheet as at 28 February 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 140,000 160,000
Tangible assets 3 482 719
140,482 160,719
Current assets
Stocks 1,395 1,475
Cash at bank and in hand 4,303 5,837
5,698 7,312
Creditors: amounts falling due within one year (142,528) (164,633)
Net current assets (liabilities) (136,830) (157,321)
Total assets less current liabilities 3,652 3,398
Total net assets (liabilities) 3,652 3,398
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,650 3,396
Shareholders' funds 3,652 3,398
  • For the year ending 28 February 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 20 October 2016

And signed on their behalf by:
Mrs S Alldred, Director

PEPPER LANE CHIPPY LIMITED Registered Number 08418750

Notes to the Abbreviated Accounts for the period ended 28 February 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sale of goods, excluding VAT

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as folows
Motor Vehicles 25% on reducing balance
Plant & Machinery 25% on reducing balance
Office Equipment 33% on reducing balance

Intangible assets amortisation policy
Goodwill is being written off in equal annual instalments over its estimated life of 10 years.

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

2Intangible fixed assets
£
Cost
At 1 March 2015 200,000
Additions -
Disposals -
Revaluations -
Transfers -
At 28 February 2016 200,000
Amortisation
At 1 March 2015 40,000
Charge for the year 20,000
On disposals -
At 28 February 2016 60,000
Net book values
At 28 February 2016 140,000
At 28 February 2015 160,000
3Tangible fixed assets
£
Cost
At 1 March 2015 1,392
Additions -
Disposals -
Revaluations -
Transfers -
At 28 February 2016 1,392
Depreciation
At 1 March 2015 673
Charge for the year 237
On disposals -
At 28 February 2016 910
Net book values
At 28 February 2016 482
At 28 February 2015 719