Paleo Chef Limited Small abbreviated accounts

Paleo Chef Limited Small abbreviated accounts

LIFESTYLE CHEF LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-05-08 2017-05-08 false true false false false false false false false false false false true true 2015-12-01 true xbrli:pure xbrli:shares iso4217:GBP 08777931 2015-12-01 2016-11-30 08777931 2016-11-30 08777931 2015-11-30 08777931 2015-11-30 08777931 uk-gaap:FixturesFittings 2015-12-01 2016-11-30 08777931 uk-gaap:MotorVehicles 2015-12-01 2016-11-30 08777931 uk-gaap:OfficeEquipment 2015-12-01 2016-11-30 08777931 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-12-01 2016-11-30 08777931 uk-bus:OrdinaryShareClass1 2015-12-01 2016-11-30 08777931 uk-bus:Director1 2015-12-01 2016-11-30 08777931 uk-gaap:AllSubsidiaries 2015-12-01 2016-11-30 08777931 uk-bus:OrdinaryShareClass1 2016-11-30 08777931 uk-bus:OrdinaryShareClass1 2015-11-30 08777931 uk-lang:English 2015-12-01 2016-11-30 08777931 uk-curr:PoundSterling 2015-12-01 2016-11-30
COMPANY REGISTRATION NUMBER 08777931
PALEO CHEF LIMITED
ABBREVIATED ACCOUNTS
30 November 2016
HARRIS & CO CONSULTANTS LTD
Accountants & Tax Advisers
5 Oak Tree Court
Mulberry Drive
Cardiff Gate Business Park
Cardiff
UK
CF23 8RS
PALEO CHEF LIMITED
ABBREVIATED BALANCE SHEET
30 November 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Tangible assets
32,892
30,504
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---------
CURRENT ASSETS
Stocks
3,000
3,000
Debtors
5,180
14,596
Cash at bank and in hand
26,366
10,590
---------
---------
34,546
28,186
CREDITORS: Amounts falling due within one year
22,645
8,550
---------
---------
NET CURRENT ASSETS
11,901
19,636
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
44,793
50,140
CREDITORS: Amounts falling due after more than one year
23,639
32,495
PROVISIONS FOR LIABILITIES
6,579
3,529
---------
---------
14,575
14,116
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---------
CAPITAL AND RESERVES
Called up equity share capital
3
2
2
Profit and loss account
14,573
14,114
---------
---------
SHAREHOLDERS' FUNDS
14,575
14,116
---------
---------
For the year ended 30 November 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 accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 28 January 2017 , and are signed on their behalf by:
Mari Griffiths Director
Company Registration Number: 08777931
PALEO CHEF LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 NOVEMBER 2016
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).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
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:
Fixtures & Fittings-20% straight line
Motor Vehicles-25% straight line
Equipment-20% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2. FIXED ASSETS
Tangible Assets
£
COST
At 1 December 2015
38,130
Additions
12,653
---------
At 30 November 2016
50,783
---------
DEPRECIATION
At 1 December 2015
7,626
Charge for year
10,265
---------
At 30 November 2016
17,891
---------
NET BOOK VALUE
At 30 November 2016
32,892
---------
At 30 November 2015
30,504
---------
3. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
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