Spoonful of Sugar Limited - Period Ending 2017-02-28

Registration number: 07834739

Spoonful of Sugar Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

Spoonful of Sugar Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Spoonful of Sugar Limited
(Registration number: 07834739)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					2,279			2,553
Tangible fixed assets					22,634			23,415
					24,913			25,968
Current assets
Debtors					521,111			193,752
Cash at bank and in hand					225,528			137,615
					746,639			331,367
Creditors: Amounts falling due within one year					(368,061)			(268,411)
Net current assets					378,578			62,956
Net assets					403,491			88,924
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					403,391			88,824
Shareholders' funds					403,491			88,924

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Spoonful of Sugar Limited
(Registration number: 07834739)
Abbreviated Balance Sheet at 30 November 2016
......... continued

For the year ending 30 November 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 31 August 2017

.........................................
Mr Robert Horne
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Spoonful of Sugar Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over 10 years as follows:

Asset class	Amortisation method and rate
Trademarks	10% straight line

Depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% reducing balance
Computer Equipment	33% straight line

Research and development

Research and development expenditure is written off as incurred.

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

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.

Page 3

Spoonful of Sugar Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2015		2,735			35,179			37,914
Additions		-			10,784			10,784
At 30 November 2016		2,735			45,963			48,698
Depreciation
At 1 December 2015		182			11,764			11,946
Charge for the year		274			11,565			11,839
At 30 November 2016		456			23,329			23,785
Net book value
At 30 November 2016		2,279			22,634			24,913
At 30 November 2015		2,553			23,415			25,968

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		-			50,000

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4

Spoonful of Sugar Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

5	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Robert Horne
Interest free loan repayable on demand	1,450	151	3,310	-

6	Going concern

The director has reviewed the twelve months ahead and considered the company's financial position and notes no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.

Page 5