| Shipstones Beer Company |
| Registered number: |
08475688 |
| Abbreviated Balance Sheet |
| as at 30 April 2014 |
|
| Notes |
|
|
2014 |
|
| £ |
|
| Fixed assets |
| Tangible assets |
3 |
|
|
13,704 |
|
| Current assets |
| Stocks |
|
|
14,220 |
| Debtors |
|
|
7,837 |
| Cash at bank and in hand |
|
|
12,832 |
|
|
|
34,889 |
|
|
|
| Creditors: amounts falling due within one year |
|
|
(18,402) |
|
| Net current assets |
|
|
|
16,487 |
|
|
| Total assets less current liabilities |
|
|
|
30,191 |
|
|
| Creditors: amounts falling due after more than one year |
|
|
|
(36,227) |
|
|
|
| Net liabilities |
|
|
|
(6,036) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
| Profit and loss account |
|
|
|
(6,136) |
|
| Shareholder's funds |
|
|
|
(6,036) |
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Richard Neale |
| Director |
| Approved by the board on 23 December 2014 |
|
| Shipstones Beer Company |
| Notes to the Abbreviated Accounts |
| for the period ended 30 April 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Going concern |
|
|
The company's financial statements disclose a deficit in shareholders' funds and show current liabilities in excess of current assets. However the company's director is continuing to provide financial support to the company and upon this basis the director considers that the company constitutes a going concern. The financial statements have therefore been prepared on this basis. |
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
Additions |
17,786 |
|
At 30 April 2014 |
17,786 |
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the period |
4,082 |
|
At 30 April 2014 |
4,082 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2014 |
13,704 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
| value |
Number |
£ |
|
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
|
|
|
|
|
|
