Slice Products Limited - Period Ending 2016-07-31

Registration number: 08133674

Slice Products Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

HGR Accountants Limited
Chartered Tax Advisers & Accountants
Meadowcroft
Clements Lane
Marsh Gibbon
Marsh Gibbon
Oxfordshire
OX27 0HG

Slice Products Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Slice Products Limited
(Registration number: 08133674)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					2,789			1,899
Current assets
Stocks					26,702			10,843
Debtors					15,205			16,022
Cash at bank and in hand					7,314			7,851
					49,221			34,716
Creditors: Amounts falling due within one year					(69,306)			(32,228)
Net current (liabilities)/assets					(20,085)			2,488
Total assets less current liabilities					(17,296)			4,387
Provisions for liabilities					-			(379)
Net (liabilities)/assets					(17,296)			4,008
Capital and reserves
Called up share capital		3			110			110
Profit and loss account					(17,406)			3,898
Shareholders' (deficit)/funds					(17,296)			4,008

For the year ending 31 July 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 director acknowledges his 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 director on 21 April 2017

.........................................
Mr Michael David Dalton
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Slice Products Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Deprecaition is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful ecomomic life as follows:

Asset class	Depreciation method and rate
Office Equipment	3 years Staright Line

Stock

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

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Assets and liabilities in foreign currencies are translated in to sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into stirling at the rate of exchange ruling at the date of the transaction. exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Slice Products Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		2,801			2,801
Additions		1,989			1,989
At 31 July 2016		4,790			4,790
Depreciation
At 1 August 2015		902			902
Charge for the year		1,099			1,099
At 31 July 2016		2,001			2,001
Net book value
At 31 July 2016		2,789			2,789
At 31 July 2015		1,899			1,899

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		100			100			100			100
Ordinary B of £1 each		10			10			10			10
		110			110			110			110

Page 3