OWEN'S_FOOD_STORE_LIMITED - Accounts

OWEN'S FOOD STORE LIMITED - Company Information

Print Friendly Version

Company Registration No. 07362829 (England and Wales)

OWEN'S FOOD STORE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

OWEN'S FOOD STORE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

OWEN'S FOOD STORE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

69,445

78,656

Current assets

Stocks

26,149

24,994

Debtors

Cash at bank and in hand

17,658

19,806

43,807

44,801

Creditors: amounts falling due within one year

(99,912)

(108,920)

Net current liabilities

(56,105)

(64,119)

Total assets less current liabilities

13,340

14,537

Creditors: amounts falling due after more than one year

(8,847)

(14,420)

4,493

117

Capital and reserves

Called up share capital

100

Profit and loss account

4,393

Shareholders' funds

4,493

117

For the financial year ended 31 August 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 25 May 2017

Simon Owen

Director

Company Registration No. 07362829

OWEN'S FOOD STORE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

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).

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

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods provided in the normal course of business. Revenue is generated from the sale of grocery , alcohol products and that of running a cafe. The company recognises revenue when goods and services are sold to customers.

1.4

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

Straight Line over the life of the lease

Fixtures, fittings & equipment

25% Reducing balance basis

Fixed assets

Tangible assets

Cost

At 1 September 2015 & at 31 August 2016

131,250

Depreciation

At 1 September 2015

52,593

Charge for the year

9,212

At 31 August 2016

61,805

Net book value

At 31 August 2016

69,445

At 31 August 2015

78,656

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100