Passionate Spirits Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05253168

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

PASSIONATE SPIRITS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Godfrey

SECRETARY:

J Godfrey

REGISTERED OFFICE:

Kemp House

152 - 160 City Road

London

EC1V 2NX

REGISTERED NUMBER:

05253168

ACCOUNTANTS:

Kings Mill Partnership

Accountants

Burma House

Station Path

Staines

Middlesex

TW18 4LA

FIXED ASSETS

Intangible assets

2

35,000

Tangible assets

3

196

262

35,196

35,262

CURRENT ASSETS

Stocks

298

366

Debtors

1,150

10,686

Cash at bank

8

916

1,456

11,968

CREDITORS

Amounts falling due within one year

771

433

NET CURRENT ASSETS

685

11,535

TOTAL ASSETS LESS CURRENT
LIABILITIES

35,881

46,797

CAPITAL AND RESERVES

Called up share capital

4

30,000

Profit and loss account

5,881

16,797

SHAREHOLDERS' FUNDS

35,881

46,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23 December 2016 and were signed by:

M Godfrey - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill is to be amortised over the next 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on a reducing balance basis on

all tangible assets at rates calculated to write off the cost, less estimated residual value, of each asset over the

expected useful life. The following annual rates have been applied:

Fixtures and fittings - 25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

35,000

NET BOOK VALUE

At 31 March 2016

35,000

At 31 March 2015

35,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

2,037

DEPRECIATION

At 1 April 2015

1,775

Charge for year

66

At 31 March 2016

1,841

NET BOOK VALUE

At 31 March 2016

196

At 31 March 2015

262

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

30,000

ordinary

1

30,000