Micro-entity Accounts - UNITED FOODS DIRECT LIMITED

Micro-entity Accounts - UNITED FOODS DIRECT LIMITED

UNITED FOODS DIRECT LIMITED - Company Information

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Registered Number 06807708

UNITED FOODS DIRECT LIMITED

Micro-entity Accounts

28 February 2017

UNITED FOODS DIRECT LIMITED Registered Number 06807708

Micro-entity Balance Sheet as at 28 February 2017

Notes 2017 2016
£ £
Fixed assets
Tangible assets 1 22,092 3,538
22,092 3,538
Current assets
Stocks 45,236 33,095
Debtors 116,599 142,240
Cash at bank and in hand 8,882 1,558
170,717 176,893
Creditors: amounts falling due within one year (239,497) (231,949)
Net current assets (liabilities) (68,780) (55,056)
Total assets less current liabilities (46,688) (51,518)
Creditors: amounts falling due after more than one year (11,535) -
Total net assets (liabilities) (58,223) (51,518)
Capital and reserves
Called up share capital 11,002 11,002
Profit and loss account (69,225) (62,520)
Shareholders' funds (58,223) (51,518)
  • For the year ending 28 February 2017 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 15 May 2017

And signed on their behalf by:
R Todd, Director

UNITED FOODS DIRECT LIMITED Registered Number 06807708

Notes to the Micro-entity Accounts for the period ended 28 February 2017

1Tangible fixed assets
£
Cost
At 29 February 2016 30,295
Additions 25,918
Disposals -
Revaluations -
Transfers -
At 28 February 2017 56,213
Depreciation
At 29 February 2016 26,757
Charge for the year 7,364
On disposals -
At 28 February 2017 34,121
Net book values
At 28 February 2017 22,092
At 28 February 2016 3,538

2Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard.)

Turnover policy
Turnover is measured at the fair value of the consideration received, or receivable, net of discounts and value-added taxes. Turnover includes revenue earned from the sales of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs.

Tangible assets depreciation policy
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over it's expected useful life as follows:

Plant and Machinery over 5 years
Motor Vehicles over 4 years

Valuation information and policy
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.