Cheshire Creameries Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03739926 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Cheshire Creameries Ltd

Trading as

Cheshire Creameries

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M L Manfredi

SECRETARY:

REGISTERED OFFICE:

Oakdene

Newcastle Road

Willaston

Nantwich

Cheshire

CW5 7EL

REGISTERED NUMBER:

03739926 (England and Wales)

ACCOUNTANTS:

Paterson Brodie

Cliveden Chambers

Cliveden Place

Longton

Stoke-on-Trent

Staffordshire

ST3 4JB

FIXED ASSETS

Tangible assets

4

25,269

30,734

CURRENT ASSETS

Debtors

5

63,184

45,414

Cash at bank and in hand

-

28,150

63,184

73,564

CREDITORS

Amounts falling due within one year

6

87,076

80,987

NET CURRENT LIABILITIES

(23,892

)

(7,423

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,377

23,311

PROVISIONS FOR LIABILITIES

420

-

NET ASSETS

957

23,311

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

937

23,291

SHAREHOLDERS' FUNDS

957

23,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 June 2017 and were signed by:

M L Manfredi - Director

1.	STATUTORY INFORMATION

Cheshire Creameries Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

2,209

41,375

9,499

53,083

Additions

82

-

2,440

2,522

At 31 March 2017

2,291

41,375

11,939

55,605

DEPRECIATION

At 1 April 2016

1,783

14,653

5,913

22,349

Charge for year

102

6,680

1,205

7,987

At 31 March 2017

1,885

21,333

7,118

30,336

NET BOOK VALUE

At 31 March 2017

406

20,042

4,821

25,269

At 31 March 2016

426

26,722

3,586

30,734

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

3,435

298

Other debtors

12,069

12,069

Directors' current accounts

47,352

33,047

Prepayments

328

-

63,184

45,414

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

14,915

12,914

Hire purchase contracts

21,379

26,091

Trade creditors

16,796

728

Tax

25,452

24,729

Social security and other taxes

-

729

VAT

6,334

13,466

Accrued expenses

2,200

2,330

87,076

80,987

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

M L Manfredi

Balance outstanding at start of year

33,047

40,648

Amounts advanced

141,019

70,009

Amounts repaid

(126,714

)

(77,610

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

47,352

33,047

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M L Manfredi.

The ultimate controlling party is M L Manfredi.