Village Maid Cheese Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03846528 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Village Maid Cheese Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr A Wigmore

Mrs A Wigmore

SECRETARY:

Mrs A Wigmore

REGISTERED OFFICE:

The Cottage

Basingstoke Road, Riseley

Reading

Berkshire

RG7 1QD

REGISTERED NUMBER:

03846528 (England and Wales)

ACCOUNTANTS:

Elsburys Ltd

Chartered Certified Accountants

Suite 2

1 Kings Road

Crowthorne

Berkshire

RG45 7BF

FIXED ASSETS

Intangible assets

4

-

19,000

Tangible assets

5

116,674

122,054

116,674

141,054

CURRENT ASSETS

Stocks

83,981

69,067

Debtors

6

32,107

39,044

Cash at bank

162,913

119,603

279,001

227,714

CREDITORS

Amounts falling due within one year

7

181,951

222,816

NET CURRENT ASSETS

97,050

4,898

TOTAL ASSETS LESS CURRENT LIABILITIES

213,724

145,952

PROVISIONS FOR LIABILITIES

(4,493

)

(4,097

)

ACCRUALS AND DEFERRED INCOME

(36,777

)

(38,555

)

NET ASSETS

172,454

103,300

CAPITAL AND RESERVES

Called up share capital

100

2

Retained earnings

172,354

103,298

SHAREHOLDERS' FUNDS

172,454

103,300

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 22 December 2017 and were signed on its behalf by:

Mrs A Wigmore - Director

Mr A Wigmore - Director

1.	STATUTORY INFORMATION

Village Maid Cheese 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 2011, is being amortised evenly over its estimated useful life of five 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.

Freehold property

-

10% on cost and not provided

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33% 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.

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 14 (2016 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

275,000

AMORTISATION

At 1 April 2016

256,000

Charge for year

19,000

At 31 March 2017

275,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

19,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2016

118,292

41,372

159,664

Additions

-

6,476

6,476

At 31 March 2017

118,292

47,848

166,140

DEPRECIATION

At 1 April 2016

19,855

17,755

37,610

Charge for year

6,795

5,061

11,856

At 31 March 2017

26,650

22,816

49,466

NET BOOK VALUE

At 31 March 2017

91,642

25,032

116,674

At 31 March 2016

98,437

23,617

122,054

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

28,869

35,186

Other debtors

3,238

3,858

32,107

39,044

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

23,852

20,871

Taxation and social security

38,135

40,774

Other creditors

119,964

161,171

181,951

222,816

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Village Maid Cheese Limited for the year ended 31 March 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Village Maid Cheese Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Village Maid Cheese Limited and state those matters that we have agreed to state to the Board of Directors of Village Maid Cheese Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Village Maid Cheese Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Village Maid Cheese Limited. You consider that Village Maid Cheese Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Village Maid Cheese Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Elsburys Ltd

Chartered Certified Accountants

Suite 2

1 Kings Road

Crowthorne

Berkshire

RG45 7BF

4 December 2017