Abbreviated Company Accounts - TURNER'S PIES LIMITED

TURNER'S PIES LIMITED - Company Information

08005434 TURNER'S PIES LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 08005434 2015-04-01 2016-03-31 08005434 2016-03-31 08005434 2015-03-31 08005434 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 08005434 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 08005434

TURNER'S PIES LIMITED

Abbreviated Accounts

31 March 2016

TURNER'S PIES LIMITED Registered Number 08005434

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	42,000	48,000
Tangible assets	3	67,963	82,777
		109,963	130,777
Current assets
Stocks		10,269	7,320
Debtors		13,649	26,735
Investments		-	-
Cash at bank and in hand		251,598	128,508
		275,516	162,563
Prepayments and accrued income		7,606	7,075
Creditors: amounts falling due within one year	4	(90,384)	(74,305)
Net current assets (liabilities)		192,738	95,333
Total assets less current liabilities		302,701	226,110
Creditors: amounts falling due after more than one year	4	(53,268)	(65,286)
Provisions for liabilities		(9,551)	(12,974)
Accruals and deferred income		(25,071)	(19,749)
Total net assets (liabilities)		214,811	128,101
Capital and reserves
Called up share capital	5	1,000	1,000
Share premium account		60,000	60,000
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		153,811	67,101
Shareholders' funds		214,811	128,101

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 16 August 2016

And signed on their behalf by:
Mr Philip Thomas Turner, Director

TURNER'S PIES LIMITED Registered Number 08005434

Notes to the Abbreviated Accounts for the period ended 31 March 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 FRS102 notwithstanding its effective start date of January 2016

Turnover policy
Turnover represents the value, excluding VAT and discounts, of goods provided to third party customers.

Tangible assets depreciation policy
Depreciation is provided on all tangible assets at rates calculated to write off the cost. less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Land & Buildings: Over the term of respective Lease
Plant,machinery,equipment and furniture: 20% on reducing balance
Motor vehicle: 25% straight line

Intangible assets amortisation policy
Amortisation is provided to write off the cost over its estimated useful life.

Other accounting policies
Stocks: Valued at the lower of cost or net realisable value.
Deferred Taxation:Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing & Hire-Purchase Commitments-Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company are capitalised in the balance sheet and depreciated over their expected useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

2Intangible fixed assets

	£
Cost
At 1 April 2015	60,000
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2016	60,000
Amortisation
At 1 April 2015	12,000
Charge for the year	6,000
On disposals	0
At 31 March 2016	18,000
Net book values
At 31 March 2016	42,000
At 31 March 2015	48,000

The goodwill is written off over its estimated usefel life of 10 years

3Tangible fixed assets

	£
Cost
At 1 April 2015	115,219
Additions	7,148
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2016	122,367
Depreciation
At 1 April 2015	32,442
Charge for the year	21,962
On disposals	0
At 31 March 2016	54,404
Net book values
At 31 March 2016	67,963
At 31 March 2015	82,777

Net book value of tangible assets included above held under finance leases and hire purchase contracts 2016 £18,700 2015 £21,214

4Creditors

	2016 £	2015 £
Secured Debts	53,268	65,286
Instalment debts due after 5 years	22,500	28,500

5Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1,000 Ordinary shares of £1 each	1,000	1,000