Flavell_Verdure_Limited_-TA_Greenthumb_North_West_31_Mar_2016_abbreviated_set_of_accounts.html

FLAVELL VERDURE LIMITED - Company Information

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Company registration number:

09597297

Flavell Verdure Limited -T/A Greenthumb North West

Abbreviated Financial Statements

for the period ended

31 March 2016

Flavell Verdure Limited -T/A Greenthumb North West

Abbreviated Balance Sheet

31 March 2016

		31 Mar 2016
	Note	£
Fixed assets
Intangible assets	#	70,692
Tangible assets	#	5,548
		76,240
Current assets
Stocks		1,020
Debtors		15,884
Cash at bank and in hand		733
		17,637
Creditors: amounts falling due within one year	#	(45,802	)
Net current liabilities		(28,165	)
Total assets less current liabilities		48,075
Creditors: amounts falling due after more than one year	#	(47,018	)
Net assets		1,057
Capital and reserves
Called up share capital	#	2
Profit and loss account		1,055
Shareholders funds		1,057

For the period ending

31 March 2016

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These abbreviated financial statements were approved by the board of directors and authorised for issue on

2 December 2016

, and are signed on behalf of the board by:

Mr K Flavell

Director

Company registration number:

09597297

Flavell Verdure Limited -T/A Greenthumb North West

Notes to the Abbreviated Accounts

Period ended

31 March 2016

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts invoiced during the period, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the seller obtains the right to consideration in exchange for its performance, usually on dispatch of the goods.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired. Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years. The carrying values of goodwill is reviewed for impairment in a period if events or changes in circumstances indicate the carrying value may not be recoverable.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	20% straight line
Office equipment	33% straight line
Fixtures and fittings	20% straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for according to the substance of contractual arrangements, as either financial assets, financial liabilities or equity instruments.

Operating leases

Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

Intangible assets


	£
Cost
Additions	70,692
At 31 March 2016	70,692
Amortisation
At 31 March 2016	-
Net book value
At 31 March 2016	70,692

Tangible assets


	£
Cost
Additions	6,388
At 31 March 2016	6,388
Depreciation
Charge	840
At 31 March 2016	840
Net book value
At 31 March 2016	5,548

Called up share capital

Allotted, called up and fully paid

	31 Mar 2016
	No.		£
Ordinary shares shares of £ 1.00 each	2		2