Fjordling Smokehouses Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 03730893 (England and Wales)

FJORDLING SMOKEHOUSES LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 MARCH 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr C. G. Saunders-Davies

Mrs S. Saunders-Davies

SECRETARY:

Mr C. G. Saunders-Davies

REGISTERED OFFICE:

The Island

Greatbridge Road

Romsey

Hampshire

SO51 0HP

REGISTERED NUMBER:

03730893 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

FIXED ASSETS

Intangible assets

2

29,956

28,328

Tangible assets

3

163,274

84,359

193,230

112,687

CURRENT ASSETS

Stocks

3,582

7,533

Debtors

4

101,088

79,527

Cash at bank and in hand

1,375

2,676

106,045

89,736

CREDITORS

Amounts falling due within one year

5

(188,123

)

(161,259

)

NET CURRENT LIABILITIES

(82,078

)

(71,523

)

TOTAL ASSETS LESS CURRENT LIABILITIES

111,152

41,164

CREDITORS

Amounts falling due after more than one year

5

162,966

-

CAPITAL AND RESERVES

Called up share capital

6

66,000

66,000

Profit and loss account

(117,814

)

(24,836

)

SHAREHOLDERS' FUNDS

(51,814

)

41,164

111,152

41,164

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 directors acknowledge their 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 Board of Directors on 22 December 2016 and were signed on its behalf by:

Mr C. G. Saunders-Davies - Director

Mrs S. Saunders-Davies - Director

1.	ACCOUNTING POLICIES

Basis of accounting

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).

The prior year financial statements were prepared in accordance with applicable United Kingdom accounting

standards.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Amortisation

Amortisation 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:

Patents - 20% reducing balance

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% 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.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

33,435

Additions

9,837

At 31 March 2016

43,272

AMORTISATION

At 1 April 2015

5,107

Amortisation for year

8,209

At 31 March 2016

13,316

NET BOOK VALUE

At 31 March 2016

29,956

At 31 March 2015

28,328

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

92,706

Additions

100,734

Disposals

(2,500

)

At 31 March 2016

190,940

DEPRECIATION

At 1 April 2015

8,347

Charge for year

19,684

Eliminated on disposal

(365

)

At 31 March 2016

27,666

NET BOOK VALUE

At 31 March 2016

163,274

At 31 March 2015

84,359

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 26,000 (2015 - £ 26,000 )

5.

CREDITORS

Creditors include an amount of £ 87,245 for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

66,000

Ordinary

£1

66,000

66,000

7.	TRANSACTIONS WITH THE DIRECTORS

During the year purchases of £nil (2015: £1,500) were made from Mr C. G. Saunders-Davies trading as Test

Valley Trout. A loan of £35,000 was received from Test Valley Trout and the balance remains payable at the

year end.

A loan of £15,000 was received from Mr C. G. Saunders-Davies trading as Island Farms. The loan remains

payable to Island Farms at the year end.

Mr Saunders-Davies loaned £25,000 to the company in the year. A balance of £95,000 remains payable at the

year end (2015: £70,000).

The loans are unsecured, interest free and repayable on demand.