Village Watermelons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08410834 (England and Wales)

Village Watermelons Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C Agcagul

Mr S Cagin

SECRETARY:

REGISTERED OFFICE:

Unit A3, Brantwood Industrial Estate

Brantwood Road

Tottenham

London

N17 0DX

REGISTERED NUMBER:

08410834 (England and Wales)

SENIOR STATUTORY AUDITOR:

Altan Kemal ACA FCCA

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

CURRENT ASSETS

Stocks

30,100

-

Debtors

887,446

725,778

Cash at bank and in hand

399,201

281,699

1,316,747

1,007,477

CREDITORS

Amounts falling due within one year

130,921

117,387

NET CURRENT ASSETS

1,185,826

890,090

TOTAL ASSETS LESS CURRENT LIABILITIES

1,185,826

890,090

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Retained earnings

5

1,184,826

889,090

SHAREHOLDERS' FUNDS

1,185,826

890,090

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 July 2018 and were signed on its behalf by:

Mr S Cagin - Director

Mr C Agcagul - Director

1.	STATUTORY INFORMATION

Village Watermelons 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the customer takes delivery of the goods and is derived from the

ordinary activities of the business.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Going concern

In the directors' assessment of the company's ability to continue as a going concern, there are no

material uncertainties that may cast significant doubt about the company's ability to continue as a

going concern and there will be adequate financial resources available for the company to continue in

operational existence for the foreseeable future.

Consignment purchases

Goods acquired on consignment are not recognised as the company's purchases until the title of the

goods changes to the company. This occurs when the goods are sold.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 9 ) .

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.

RESERVES

Retained

earnings

£

At 1 April 2017

889,090

Profit for the year

295,736

At 31 March 2018

1,184,826

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal ACA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

7.	CONTINGENT LIABILITIES

All companies in the group are guarantors under a credit guarantee between Natwest Bank and

Village Quality Products Limited. The balance outstanding at 31st March 2018 was nil (2017 - nil).

All companies in the group have guaranteed a loan between Natwest Bank (the lender) and RS

Properties London Ltd (a subsidiary in the same group). The balance outstanding at 31st March 2018

was £4,296,590 (2017 - 4,497,011).

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Masca Holdings Ltd.