MAS Food Consultancy Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC528037 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 FEBRUARY 2016 TO 28 FEBRUARY 2017

FOR

MAS FOOD CONSULTANCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Sim

SECRETARY:

Mrs S L Sim

REGISTERED OFFICE:

Kilronan

43 Greenbank Road

Fraserburgh

Aberdeenshire

AB43 7GA

REGISTERED NUMBER:

SC528037 (Scotland)

FIXED ASSETS

Tangible assets

5

626

CURRENT ASSETS

Debtors

6

5,514

Cash at bank

34,552

40,066

CREDITORS

Amounts falling due within one year

7

22,122

NET CURRENT ASSETS

17,944

TOTAL ASSETS LESS CURRENT LIABILITIES

18,570

CREDITORS

Amounts falling due after more than one year

8

(38

)

PROVISIONS FOR LIABILITIES

10

(119

)

NET ASSETS

18,413

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

18,313

SHAREHOLDERS' FUNDS

18,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 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 11 November 2017 and were signed by:

M A Sim - Director

1.	STATUTORY INFORMATION

MAS Food Consultancy Ltd is a private company, limited by shares , registered in Scotland. The company's

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these

financial statements are rounded to the nearest pound.

These financial statements for the year ended 28 February 2017 are the first financial statements of MAS Food

Consultancy Ltd prepared in accordance with Section 1A "Small Entities" of Financial Reporting Standard 102,

the financial reporting standard applicable in the UK and Republic of Ireland.

Going Concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to

adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised where the revision affects only that period, or in the

period of the revision and future periods where the revision affects both current and future periods.

The director considers that there are no estimates and underlying assumptions which have a significant risk of

causing a material adjustment to the carrying amount of the assets and liabilities.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment

-

25% on cost

Taxation

Taxation for the period 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

699

At 28 February 2017

699

DEPRECIATION

Charge for period

73

At 28 February 2017

73

NET BOOK VALUE

At 28 February 2017

626

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Computer

equipment

£

COST

Additions

699

At 28 February 2017

699

DEPRECIATION

Charge for period

73

At 28 February 2017

73

NET BOOK VALUE

At 28 February 2017

626

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

5,420

Other debtors

94

5,514

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

461

Taxation and social security

10,982

Other creditors

10,679

22,122

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

38

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Hire purchase contracts

499

10.	PROVISIONS FOR LIABILITIES

£

Deferred tax

119

Deferred

tax

£

Provided during period

119

Balance at 28 February 2017

119

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

12.	RELATED PARTY DISCLOSURES

13.	ULTIMATE CONTROLLING PARTY

The controlling party is M A Sim.