Snackums_Ltd_31_Aug_2016_abbreviated_set_of_accounts.html

SNACKUMS LTD - Company Information

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Company registration number:

09168633

Snackums Ltd

Abbreviated Financial Statements

for the year ended

31 August 2016

Snackums Ltd

Abbreviated Balance Sheet

31 August 2016

		2016		2015
	Note	£		£
Fixed assets
Tangible assets	2	13,336		12,501
Current assets
Stocks		7,030		6,176
Cash at bank and in hand		475		430
		7,505		6,606
Creditors: amounts falling due within one year	3	(1,486	)	(1,274	)
Net current assets		6,019		5,332
Total assets less current liabilities		19,355		17,833
Creditors: amounts falling due after more than one year	4	(30,049	)	(28,659	)
Net liabilities		(10,694	)	(10,826	)
Capital and reserves
Called up share capital	5	1,500		1,500
Profit and loss account		(12,194	)	(12,326	)
Shareholders deficit		(10,694	)	(10,826	)

For the year ending

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.

These abbreviated financial statements were approved by the board of directors and authorised for issue on

24 May 2017

, and are signed on behalf of the board by:

Mark Dylan Purdy

Director

Company registration number:

09168633

Snackums Ltd

Notes to the Abbreviated Accounts

Year ended

31 August 2016

1 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts invoiced during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the seller obtains the right to consideration in exchange for its performance, usually on dispatch of the goods.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses. 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:

Office equipment	25% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance

Stocks

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

Financial instruments

Financial instruments are classified and accounted for according to the substance of contractual arrangements, as either financial assets, financial liabilities or equity instruments.

Operating leases

Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

2 Tangible assets


	£
Cost
At 1 September 2015	16,669
Additions	5,281
At 31 August 2016	21,950
Depreciation
At 1 September 2015	4,168
Charge	4,446
At 31 August 2016	8,614
Net book value
At 31 August 2016	13,336
At 31 August 2015	12,501

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