Blue Truffle Limited - Period Ending 2017-03-31

Registration number: 09454061

Blue Truffle Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Blue Truffle Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Blue Truffle Limited

(Registration number: 09454061)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Current assets
Debtors	5	8,215	7,449
Cash at bank and in hand		35,306	-
		43,521	7,449
Creditors: Amounts falling due within one year	6	(37,686)	(6,964)
Net assets		5,835	485
Capital and reserves
Called up share capital		100	100
Profit and loss account		5,735	385
Total equity		5,835	485

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 December 2017 and signed on its behalf by:
 

.........................................

Mr Bernard Peter Gaskin

Director

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

Page 1

Blue Truffle Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Snowdrop Cottage
Manningford Bruce
Pewsey
Wiltshire
SN9 6JW
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Taxation

Page 2

Blue Truffle Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

	2017		2016
	£		£
Corporation tax	6,713		5,493
Deferred tax	-		-
	6,713		5,493

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2016 - 1).

5

Debtors

	2017 £	2016 £
Trade debtors	8,060	3,782
Other debtors	155	3,667
Total current trade and other debtors	8,215	7,449

Page 3

Blue Truffle Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		6,713	5,493
Other creditors		30,973	1,471
		37,686	6,964

7	Related party transactions

Transactions with directors

2017	At 1 April 2016 £	Advances to directors £	Repayments by director £	At 31 March 2017 £
Mr Andrew Bernard Gaskin
made loans to the company. The loans are repayable on demand and are non interest bearing.	3,609	-	(33,688)	(30,079)
Mr Bernard Peter Gaskin
made loans to the company. The loans are repayable on demand and are non interest bearing.	(721)	628	-	(93)

2016	Advances to directors £	At 31 March 2016 £
Mr Andrew Bernard Gaskin
made loans to the company. The loans are repayable on demand and are non interest bearing.	3,609	3,609
Mr Bernard Peter Gaskin
made loans to the company. The loans are repayable on demand and are non interest bearing.	(721)	(721)

Dividends paid to directors

	2017 £	2016 £
Mr Andrew Bernard Gaskin
During the year dividends of £2,15 per share (2016 £2,15 per share) were paid to the directors.	21,500	21,500

Page 4

Blue Truffle Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

8	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 5