Raindrops Scandinavia Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 04892985 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2016

for

RAINDROPS SCANDINAVIA LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs N Horne

SECRETARY:

N Horne

REGISTERED OFFICE:

Dexam

Unit 8 - 10

Holmbush Industrial Estate

Midhurst

West Sussex

GU29 9HX

REGISTERED NUMBER:

04892985 (England and Wales)

ACCOUNTANTS:

Adams Beeny Limited

Chartered Certified Accountants

4 Sudley Road

Bognor Regis

West Sussex

PO21 1EU

FIXED ASSETS

Tangible assets

4

630

840

CURRENT ASSETS

Stocks

18,847

58,015

Debtors

5

20,650

15,796

Cash at bank and in hand

40,330

39,212

79,827

113,023

CREDITORS

Amounts falling due within one year

6

7,947

33,527

NET CURRENT ASSETS

71,880

79,496

TOTAL ASSETS LESS CURRENT LIABILITIES

72,510

80,336

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

72,410

80,236

SHAREHOLDERS' FUNDS

72,510

80,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 17 October 2016 and were signed by:

Mrs N Horne - Director

1.	STATUTORY INFORMATION

Raindrops Scandinavia Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 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.

Deferred tax

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

statement of financial position date. Deferred tax assets are recognised only to the extent that the director

considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of

timing differences can be deducted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2015

and 30 June 2016

7,327

DEPRECIATION

At 1 July 2015

6,487

Charge for year

210

At 30 June 2016

6,697

NET BOOK VALUE

At 30 June 2016

630

At 30 June 2015

840

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Trade debtors

5,646

2,457

Other debtors

15,004

13,339

20,650

15,796

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.16

30.6.15

£

£

Trade creditors

3,651

2,393

Tax

-

5

Social security and other taxes

3,725

115

Other creditors

571

1,253

Directors' current accounts

-

29,761

7,947

33,527

7.	DEFERRED TAX

£

Balance at 1 July 2015

(10,316

)

Deferred tax asset on losses

(1,903

)

Balance at 30 June 2016

(12,219

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 July 2015

80,236

Deficit for the year

(7,826

)

At 30 June 2016

72,410

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and

30 June 2015:

30.6.16

30.6.15

£

£

Mrs N Horne

Balance outstanding at start of year

(29,761

)

(29,983

)

Amounts advanced

57,467

222

Amounts repaid

(27,706

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(29,761

)

The loan from the director is interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

The company continues to be under the control of the director.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs N Horne.

13.	FIRST YEAR ADOPTION

Transitional relief

On transition to FRS 102, the company has taken advantage of the following transitional relief:

•

not to apply the requirements of Section 19 Business Combinations and Goodwill;

•

not to apply the requirements of Section 26 Share-based Payment;

•

to measure fair value at date of transition to FRS 102 and use as deemed cost on:

-

an item of property, plant and equipment;

-

an investment property;

-

an intangible asset which meets the recognition criteria and criteria for revaluation in Section 18 Intangible Assets other than Goodwill;

•

to use a previous GAAP revaluation as deemed cost on:

-

an item of property, plant and equipment;

-

an investment property;

-

an intangible asset which meets the recognition criteria and criteria for revaluation in Section 18 Intangible Assets other than Goodwill;

•

to measure investment in subsidiaries, associates and joint ventures at cost determined in accordance with Section 9 Consolidated and Separate Financial Statements, Section 14 Investments in Associates or Section 15 Investments in Joint Ventures; deemed cost;

•

not to apply the requirement of paragraph 22.13 in respect of compound financial instruments;

•

not to apply the requirements of paragraphs 34.12E to 34.16A in respect of service concession agreements;

•

to take elections available for extractive activities;

•

to determine existence of leases on basis of existing facts and circumstances;

•

to measure decommissioning liabilities included in cost of property, plant and equipment at date of transition to FRS 102;

•

to retain accounting policies for reported assets, liabilities and equity measurement at date of transition to FRS 102 for dormant companies;

•

to measure carrying amount of deferred development costs at date of transition to FRS 102 as deemed cost;

•

to treat date of transition to FRS 102 as date on which capitalisation of borrowing costs commences;

•

not to apply the requirements of paragraphs 20.15A to 20.25A in respect of lease incentives;

•

to measure assets and liabilities of subsidiaries, associates and joint ventures at the carrying amounts that would be included in the parent's consolidated financial statements; carrying amounts required by FRS 102 other than those that would be included in the parent's consolidated financial statements;

•

to designate previously recognised financial instruments at fair value through profit or loss provided criteria in paragraph 11.14b are met at date of transition to FRS 102.