Clarks Pies Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04395811 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

CLARKS PIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Prested

Ms D Clark

SECRETARY:

Ms D Clark

REGISTERED OFFICE:

Boyce's Building

Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

04395811 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

35,000

42,000

Tangible assets

5

13,683

12,405

48,683

54,405

CURRENT ASSETS

Stocks

5,692

3,821

Debtors

6

2,172

3,099

Cash at bank and in hand

7,597

9,350

15,461

16,270

CREDITORS

Amounts falling due within one year

7

54,013

60,276

NET CURRENT LIABILITIES

(38,552

)

(44,006

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,131

10,399

CREDITORS

Amounts falling due after more than one year

8

(704

)

-

PROVISIONS FOR LIABILITIES

(2,600

)

-

NET ASSETS

6,827

10,399

CAPITAL AND RESERVES

Called up share capital

9

1,004

1,004

Retained earnings

10

5,823

9,395

SHAREHOLDERS' FUNDS

6,827

10,399

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 directors acknowledge their 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 Board of Directors on 12 December 2017 and were signed on its behalf by:

K Prested - Director

1.	STATUTORY INFORMATION

Clarks Pies Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

140,000

AMORTISATION

At 1 April 2016

98,000

Charge for year

7,000

At 31 March 2017

105,000

NET BOOK VALUE

At 31 March 2017

35,000

At 31 March 2016

42,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2016

65,081

12,652

77,733

Additions

1,954

4,020

5,974

Disposals

-

(1,298

)

(1,298

)

At 31 March 2017

67,035

15,374

82,409

DEPRECIATION

At 1 April 2016

61,460

3,868

65,328

Charge for year

1,199

2,767

3,966

Eliminated on disposal

-

(568

)

(568

)

At 31 March 2017

62,659

6,067

68,726

NET BOOK VALUE

At 31 March 2017

4,376

9,307

13,683

At 31 March 2016

3,621

8,784

12,405

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

836

1,465

Other debtors

1,336

1,634

2,172

3,099

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

4,810

4,003

Hire purchase contracts

1,587

-

Trade creditors

22,256

19,121

Taxation and social security

7,894

11,438

Other creditors

17,466

25,714

54,013

60,276

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

704

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

1,000

Ordinary A

£1

1,000

1,000

4

Ordinary B

£1

4

4

1,004

1,004

10.

RESERVES

Retained

earnings

£

At 1 April 2016

9,395

Profit for the year

16,428

Dividends

(20,000

)

At 31 March 2017

5,823

11.	RELATED PARTY TRANSACTIONS

The directors maintain an interest free loan account with the company. At the balance sheet

date, the company owed the directors £2,346 (2016: £10,430).

During the year, the company paid dividends of £20,000 to the directors (2016: £38,000).

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director Mr K Prested.