CROMEX_CATERING_LIMITED - Accounts

CROMEX_CATERING_LIMITED - Accounts

CROMEX CATERING LIMITED - Company Information

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Company Registration No. 08577673 (England and Wales)
CROMEX CATERING LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
CROMEX CATERING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CROMEX CATERING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
130,625
138,125
Tangible assets
2
362,990
322,177
493,615
460,302
Current assets
Stocks
8,583
13,514
Debtors
16,696
58,436
Cash at bank and in hand
111,710
7,024
136,989
78,974
Creditors: amounts falling due within one year
(941,585)
(523,026)
Net current liabilities
(804,596)
(444,052)
Total assets less current liabilities
(310,981)
16,250
Creditors: amounts falling due after more than one year
-
(149,950)
(310,981)
(133,700)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(311,081)
(133,800)
Shareholders'  funds
(310,981)
(133,700)
CROMEX CATERING LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2016
30 June 2016
- 2 -
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 30 March 2017
Mrs C Henderson
Mr K Henderson
Director
Director
Company Registration No. 08577673
CROMEX CATERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
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 directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and its operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.

 

The directors, having regard to the nature, size and complexity of the business, have assessed the financial risks affecting the company and its operations for the 12 months from the approval of the financial statements and consider it appropriate to prepare the financial statements on a going concern basis.

The directors acknowledge that at 30th June 2016 the company's balance sheet shows a deficit of £311,081. Included in Creditors falling due within one year is an amount of £677,361 which is due to Cromex Limited, a company with similar directors and shareholders. They have given assurances that the company will not be seeking repayment of this liability for the forseeable future and that they will provide the necessary ongoing financial support in order that the company can continue to trade.

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
Lease premium

Property lease premium is written off in equal annual instalments over the term of the lease .is written off in equal annual instalments over the term of the lease.

1.5
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
20 years straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance

No depreciation is provided in respect of assets not yet brought into use.

1.6
Stock
Stock is valued at the lower of cost and net realisable value.
CROMEX CATERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
150,000
338,932
488,932
Additions
-
93,482
93,482
At 30 June 2016
150,000
432,414
582,414
Depreciation
At 1 July 2015
11,875
16,755
28,630
Charge for the year
7,500
52,669
60,169
At 30 June 2016
19,375
69,424
88,799
Net book value
At 30 June 2016
130,625
362,990
493,615
At 30 June 2015
138,125
322,177
460,302
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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