Apple Barrel (Newquay) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07154940 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

APPLE BARREL (NEWQUAY) LIMITED

TRADING AS

NATURE'S OWN

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D W Harris

Mrs G L Harris

C C May

REGISTERED OFFICE:

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

07154940 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

12,000

Tangible assets

5

-

2,963

-

14,963

CURRENT ASSETS

Stocks

-

1,100

Debtors

6

110

3,118

Cash in hand

-

365

110

4,583

CREDITORS

Amounts falling due within one year

7

80,925

78,003

NET CURRENT LIABILITIES

(80,815

)

(73,420

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(80,815

)

(58,457

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(80,817

)

(58,459

)

SHAREHOLDERS' FUNDS

(80,815

)

(58,457

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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 28 December 2018 and were signed on its behalf by:

D W Harris - Director

1.	STATUTORY INFORMATION

Apple Barrel (Newquay) 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.

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.

Turnover

Turnover represents sales of goods, excluding value added tax. Turnover is recognised at point of sale in the

shop or upon receipt of an order on account from a customer.

Goodwill

Goodwill of £40,000, being the amount paid in connection with the incorporation of a business in 2010, was

being written of evenly over its estimated useful life of 10 years. However, as the business was sold during the

year, this has been written off.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2017

40,000

Disposals

(40,000

)

At 28 February 2018

-

AMORTISATION

At 1 March 2017

28,000

Eliminated on disposal

(28,000

)

At 28 February 2018

-

NET BOOK VALUE

At 28 February 2018

-

At 28 February 2017

12,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2017

6,037

4,537

250

10,824

Disposals

(6,037

)

(4,537

)

(250

)

(10,824

)

At 28 February 2018

-

-

-

-

DEPRECIATION

At 1 March 2017

3,891

3,831

139

7,861

Eliminated on disposal

(3,891

)

(3,831

)

(139

)

(7,861

)

At 28 February 2018

-

-

-

-

NET BOOK VALUE

At 28 February 2018

-

-

-

-

At 28 February 2017

2,146

706

111

2,963

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

-

2,883

Other debtors

110

235

110

3,118

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans and overdrafts

19,923

20,686

Trade creditors

3,150

5,706

Social security and other taxes

1,019

-

Other creditors

1,563

472

Directors' current accounts

51,977

49,192

Accrued expenses

3,293

1,947

80,925

78,003

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.18

28.2.17

£

£

Bank loans

-

1,321

Mr & Mrs D W Harris have provided a personal guarantee on the outstanding loan.

9.	ULTIMATE CONTROLLING PARTY

During the year, the company was controlled by Mr & Mrs D W Harris, by virtue of the fact that, they owned

100% of the company's issued Ordinary share capital.

10.	GOING CONCERN AND LIQUIDITY

The company ceased to trade and sold the business which it ran on 10th February 2018 and intends to liquidate

once all matters have been finalised. The directors therefore do not feel that it is appropriate to use the going

concern basis and the accounts have therefore been prepared under the break up rules.