Buttercup Trading Limited - Accounts to registrar - small 16.3d

Buttercup Trading Limited - Accounts to registrar - small 16.3d

BUTTERCUP TRADING LIMITED - Company Information

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REGISTERED NUMBER: 04564670 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

BUTTERCUP TRADING LIMITED

BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUTTERCUP TRADING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2016







DIRECTOR: N Akhaveissy





REGISTERED OFFICE: 66 Newbegin
Hornsea
East Yorkshire
HU18 1AD





REGISTERED NUMBER: 04564670 (England and Wales)





ACCOUNTANTS: Sowerby FRS LLP
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF
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BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

BALANCE SHEET
31 March 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,109 33,421
Tangible assets 5 1,052 1,539
Investments 6 - 75
30,161 35,035

CURRENT ASSETS
Stocks 905 880
Debtors 7 194 254
1,099 1,134
CREDITORS
Amounts falling due within one year 8 26,572 32,381
NET CURRENT LIABILITIES (25,473 ) (31,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,688
3,788

PROVISIONS FOR LIABILITIES 128 207
NET ASSETS 4,560 3,581

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,460 3,481
SHAREHOLDERS' FUNDS 4,560 3,581

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 notes form part of these financial statements

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BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

BALANCE SHEET - continued
31 March 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 October 2016 and were signed by:





N Akhaveissy - Director


The notes form part of these financial statements

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BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2016


1. STATUTORY INFORMATION

Buttercup Trading Limited is a company incorporated and domiciled in England and has its registered office and
principle place of business at 66 Newbegin, Hornsea, East Yorkshire HU18 1AD.

The principal activity of the company in the year under review was that of a fast food take-away.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk,current market conditions and other factors affecting the company,the use of the
going concern basis of accounting is appropriate as,in the opinion of the director,there are no material
uncertainties related to events or conditions that may cast significant doubt about the ability of the company to
continue as a going concern.

This is the first year in which the financial statements have been prepared under FRS102.

Preparation of consolidated financial statements
The financial statements contain information about Buttercup Trading Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company has taken the option under
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received
or receivable. Turnover excludes value added tax and trade discounts. Turnover is recognised at point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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


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BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2016


2. ACCOUNTING POLICIES - continued
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in
the statement of comprehensive income because of items of income or expense that are taxable or deductible in
other years and items that are never taxable or deductible. The Company's liability for the current tax is
calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the
financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax
liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised
for all deductible temporary differences to the extent that it is probable that taxable profits will be available
against which those deductible timing differences can be utilised. The carrying amount of deferred tax is
reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient
taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are
recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is
also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2015
and 31 March 2016 86,249
AMORTISATION
At 1 April 2015 52,828
Charge for year 4,312
At 31 March 2016 57,140
NET BOOK VALUE
At 31 March 2016 29,109
At 31 March 2015 33,421

-5- continued...
BUTTERCUP TRADING LIMITED (REGISTERED NUMBER: 04564670)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2016


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2015 24,212
Additions 278
At 31 March 2016 24,490
DEPRECIATION
At 1 April 2015 22,673
Charge for year 765
At 31 March 2016 23,438
NET BOOK VALUE
At 31 March 2016 1,052
At 31 March 2015 1,539

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2015 75
Disposals (75 )
At 31 March 2016 -
NET BOOK VALUE
At 31 March 2016 -
At 31 March 2015 75

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Prepayments 194 254

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 4,136 11,137
Trade creditors 971 1,040
Taxation and social security 13,106 9,855
Other creditors 8,359 10,349
26,572 32,381

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