Abbreviated Company Accounts - PARADISE NATURAL FOODS LIMITED

PARADISE NATURAL FOODS LIMITED - Company Information

03547527 PARADISE NATURAL FOODS LIMITED 2016-04-30 false 2015-05-01 2016-04-30 true 03547527 2015-05-01 2016-04-30 03547527 2016-04-30 03547527 2015-04-30 03547527 uk-gaap-cd-bus:Director1 2015-05-01 2016-04-30 03547527 uk-gaap-cd-bus:Director2 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-30 iso4217:GBP shares

Registered Number 03547527

PARADISE NATURAL FOODS LIMITED

Abbreviated Accounts

30 April 2016

PARADISE NATURAL FOODS LIMITED Registered Number 03547527

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	166,897	152,716
		166,897	152,716
Current assets
Stocks		9,210	7,219
Debtors		3,159	4,929
Cash at bank and in hand		7,365	4,607
		19,734	16,755
Creditors: amounts falling due within one year		(78,818)	(51,286)
Net current assets (liabilities)		(59,084)	(34,531)
Total assets less current liabilities		107,813	118,185
Creditors: amounts falling due after more than one year		(82,722)	(85,859)
Total net assets (liabilities)		25,091	32,326
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		25,089	32,324
Shareholders' funds		25,091	32,326

For the year ending 30 April 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 6 March 2017

And signed on their behalf by:
MOSHE KORNBLUTH, Director

PARADISE NATURAL FOODS LIMITED Registered Number 03547527

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation 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:

Leasehold Property - Over the term of the lease
Plant & Machinery - 15% reducing balance

Other accounting policies
Stocks

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

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 May 2015	161,815
Additions	19,009
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	180,824
Depreciation
At 1 May 2015	9,099
Charge for the year	4,828
On disposals	-
At 30 April 2016	13,927
Net book values
At 30 April 2016	166,897
At 30 April 2015	152,716

All fixed assets are initially recorded at cost.

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2