Fine Drinks Cooperative Limited - Period Ending 2018-03-31
Fine Drinks Cooperative Limited - Period Ending 2018-03-31
Registration number:
Fine Drinks Cooperative Limited
for the Year Ended 31 March 2018
Fine Drinks Cooperative Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Fine Drinks Cooperative Limited
(Registration number: 08610694)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Company secretary and director
Page 1 |
Fine Drinks Cooperative Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Page 2 |
Fine Drinks Cooperative Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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100.00 |
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100.00 |
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1.00 |
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1.00 |
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Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Other borrowings |
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Related party transactions |
Transactions with directors |
2018 |
At 1 April 2017 |
Other payments made to company by director |
At 31 March 2018 |
Mr B Groves |
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Interest free loan |
(19,832) |
(208) |
( |
Mr A Stones |
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Interest free loan |
(4,370) |
(208) |
( |
Page 3 |