Springs Smokeries Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09166670 (England and Wales)

SPRINGS SMOKERIES LTD

Unaudited Financial Statements

for the Year Ended 30 November 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Owen

REGISTERED OFFICE:

Springs House

Edburton Road

Edburton

West Sussex

BN5 9LN

REGISTERED NUMBER:

09166670 (England and Wales)

ACCOUNTANTS:

The Bailey Partnership

Chartered Accountants

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Intangible assets

4

121,118

Tangible assets

5

102,853

223,971

CURRENT ASSETS

Stocks

97,500

Debtors

6

194,739

Cash at bank and in hand

6,357

298,596

CREDITORS

Amounts falling due within one year

7

356,678

NET CURRENT LIABILITIES

(58,082

)

TOTAL ASSETS LESS CURRENT LIABILITIES

165,889

CREDITORS

Amounts falling due after more than one year

8

73,000

NET ASSETS

92,889

CAPITAL AND RESERVES

Called up share capital

240,117

Retained earnings

(147,228

)

SHAREHOLDERS' FUNDS

92,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 28 February 2018 and were signed by:

S Owen - Director

1.	STATUTORY INFORMATION

Springs Smokeries Ltd 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 2016, is being amortised evenly over its estimated useful life of eight 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.

Development costs are being amortised evenly over their estimated useful life of four years.

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 etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance and 10% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 December 2016

and 30 November 2017

150,000

39,649

189,649

AMORTISATION

At 1 December 2016

25,000

14,869

39,869

Charge for year

18,750

9,912

28,662

At 30 November 2017

43,750

24,781

68,531

NET BOOK VALUE

At 30 November 2017

106,250

14,868

121,118

At 30 November 2016

125,000

24,780

149,780

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2016

177,747

Additions

1,965

At 30 November 2017

179,712

DEPRECIATION

At 1 December 2016

51,811

Charge for year

25,048

At 30 November 2017

76,859

NET BOOK VALUE

At 30 November 2017

102,853

At 30 November 2016

125,936

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

182,363

Other debtors

12,376

194,739

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

1,688

Hire purchase contracts

15,090

Trade creditors

159,208

Taxation and social security

5,989

Other creditors

174,703

356,678

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

23,000

Other creditors

50,000

73,000