Intereurope Foods Ltd. - Accounts

INTEREUROPE FOODS LTD. - Company Information

Intereurope Foods Ltd. 02894292 Export of Foodstuffs to Europe false 1 January 2017 02894292 2017-01-01 2017-12-31 02894292 2016-12-31 02894292 2017-12-31 02894292 2016-01-01 2016-12-31 02894292 2015-12-31 02894292 2016-12-31 02894292 frs102-bus:FRS102 2017-01-01 2017-12-31 02894292 frs102-bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 02894292 frs102-bus:FullAccounts 2017-01-01 2017-12-31 02894292 frs102-bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 02894292 frs102-core:CurrentFinancialInstruments 2017-12-31 02894292 frs102-core:CurrentFinancialInstruments 2016-12-31 02894292 frs102-core:ShareCapital 2017-12-31 02894292 frs102-core:ShareCapital 2016-12-31 02894292 frs102-core:RetainedEarningsAccumulatedLosses 2017-12-31 02894292 frs102-core:RetainedEarningsAccumulatedLosses 2016-12-31 02894292 frs102-bus:Director1 2017-01-01 2017-12-31 02894292 frs102-core:PlantMachinery 2017-01-01 2017-12-31 02894292 frs102-core:FurnitureFittings 2017-01-01 2017-12-31 02894292 frs102-core:Vehicles 2017-01-01 2017-12-31 02894292 frs102-bus:OrdinaryShareClass1 2017-12-31 02894292 frs102-bus:OrdinaryShareClass1 2016-12-31 02894292 frs102-bus:OrdinaryShareClass1 2017-01-01 2017-12-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares

	Registered number
	02894292

	Intereurope Foods Ltd.
	Unaudited Accounts
	for the year ended
	31 December 2017

Intereurope Foods Ltd. Balance Sheet as at 31 December 2017
	Notes		2017 £		2016 £
Fixed assets
Tangible assets			94,973		126,630
			94,973		126,630

Current assets
Stocks	2	79,696		37,369
Debtors	3	512,405		606,803
Cash at bank and in hand		6,888		3,539
		598,989		647,711

Prepayments and accrued income:		12,919		0

Creditors: amounts falling due within one year	4	(244,513)		(329,967)

Net current assets / (liabilities)			367,395		317,744

Total assets less current liabilities			462,368		444,374

Provisions for liabilities			(5,410)		(5,410)

Accruals and deferred income			(5,569)		(0)

Total net assets (liabilities)			451,389		438,964

Capital and reserves
Called up share capital	5		327,096		327,096
Profit and loss account			124,293		111,868
Shareholders' funds			451,389		438,964

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

S Walters

Director

Approved by the board on 14 September 2018

Company Number: 02894292 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

Park Industrial Estate Liverpool Road
Ashton-in-makerfield
Wigan
Lancashire
WN4 0YU

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

Plant & machinery	25% Reducing Balance
Fixtures & fittings	25% Reducing Balance
Vehicles	25% Reducing Balance

	Stocks
	Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Stocks

Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

	Deferred taxation
	Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

Deferred taxation

Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

Stocks
	2017	2016
	£	£
Finished goods	79,696	37,369
	79,696	37,369

Debtors
	2017	2016
	£	£
Trade debtors	485,827	548,891
Other debtors	26,578	57,912
	512,405	606,803

Creditors: amounts falling due within one year
	2017	2016
	£	£
Bank Loans & Overdrafts	0	31,869
Trade creditors	185,525	243,538
Other creditors	58,988	54,560
	244,513	329,967

Share capital
	2017	2016
	£	£
Allotted, called up and fully paid:
50,000 (2016: 50,000) Ordinary shares of £1.00 each	50,000	50,000

Allotted, called up and fully paid:
277,096 (2016: 277,096) Preference Shares shares of £1.00 each	277,096	277,096

	327,096	327,096

6.	Related party disclosures
	Controlling party The company is under the control of JJ Management Consulting LLP