Law Company (Frozen Foods) Limited - Accounts to registrar (filleted) - small 18.2
Law Company (Frozen Foods) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
FOR |
LAW COMPANY (FROZEN FOODS) LIMITED |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Certified Accountants' Report | 7 |
LAW COMPANY (FROZEN FOODS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
11 King Street |
King's Lynn |
Norfolk |
PE30 1ET |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
BALANCE SHEET |
30 NOVEMBER 2017 |
30.11.17 | 30.11.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
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 |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
1. | STATUTORY INFORMATION |
Law Company (Frozen Foods) Limited is a |
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 |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
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. |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The financial statements have been prepared on the going concern basis. The directors consider this basis to be |
appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts. |
First year adoption |
This is the first year that the company has prepared accounts using FRS 102. The directors have concluded that |
no amendments are necessary to the financial statements on transition. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2016 |
Additions |
At 30 November 2017 |
DEPRECIATION |
At 1 December 2016 |
Charge for year |
At 30 November 2017 |
NET BOOK VALUE |
At 30 November 2017 |
At 30 November 2016 |
5. | STOCKS |
30.11.17 | 30.11.16 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Trade debtors |
Social security and other taxes |
Corporation tax |
Prepayments |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Trade creditors |
Corporation tax |
Social security and other taxes |
Directors' current account |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
30.11.17 | 30.11.16 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 1 December 2016 |
Accelerated capital allowances | ( |
) |
Balance at 30 November 2017 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.17 | 30.11.16 |
value: | £ | £ |
Ordinary | £1 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2016 |
Profit for the year |
Dividends | ( |
) |
At 30 November 2017 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
A debenture is registered against the company in relation to a private mortgage taken out with their bank for the |
directors. |
LAW COMPANY (FROZEN FOODS) LIMITED (REGISTERED NUMBER: 04551718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
12. | RELATED PARTY DISCLOSURES |
Control |
The directors jointly hold 100% of the share capital of the company. |
Related party transaction |
The directors current account at 30th November 2017 stood at £128,468 (2016 - £108,613) owed jointly to the |
directors. |
The directors charged the company £20,400 (2016 - £20,400) for rent during the year. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LAW COMPANY (FROZEN FOODS) LIMITED |
The following reproduces the text of the report prepared for the directors 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 Law Company (Frozen Foods) Limited for the year ended 30 November 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 Law Company (Frozen Foods) 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 Law Company (Frozen Foods) Limited and state those matters that we have agreed to state to the Board of Directors of Law Company (Frozen Foods) 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 Law Company (Frozen Foods) 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 Law Company (Frozen Foods) Limited. You consider that Law Company (Frozen Foods) 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 Law Company (Frozen Foods) 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. |
Chartered Certified Accountants |
11 King Street |
King's Lynn |
Norfolk |
PE30 1ET |