CUBANA_(SMITHFIELD)_LTD - Accounts

CUBANA (SMITHFIELD) LTD - Company Information

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Company Registration No. 07532596 (England and Wales)

CUBANA (SMITHFIELD) LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

CUBANA (SMITHFIELD) LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CUBANA (SMITHFIELD) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,095,037

Current assets

Stocks

13,500

Debtors

129,647

100

Cash at bank and in hand

190

143,337

100

Creditors: amounts falling due within one year

(1,200,533)

Net current liabilities/(assets)

(1,057,196)

100

Total assets less current liabilities

37,841

100

Creditors: amounts falling due after more than one year

(199,993)

(162,152)

100

Capital and reserves

Called up share capital

100

Profit and loss account

(162,252)

Shareholders' funds

(162,152)

100

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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.

Approved by the Board for issue on 24 December 2016

Mr P A C Oppenheim

Director

Company Registration No. 07532596

CUBANA (SMITHFIELD) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis with the continued support of its parent company, Cubana (UK) Limited.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Plant and machinery

20% straight line

Computer equipment

50% straight line

Fixtures, fittings & equipment

20% straight line

Motor vehicles

25% straight line

The company commenced trading on 22 November 2015. Depreciation is therefore only provided for 1 month.

Fixed assets

Tangible assets

Cost

At 1 January 2015

Additions

1,108,383

At 31 December 2015

1,108,383

Depreciation

At 1 January 2015

Charge for the year

13,346

At 31 December 2015

13,346

Net book value

At 31 December 2015

1,095,037

CUBANA (SMITHFIELD) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100