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Company registration number:
03546290
Dragon Fine Foods Limited
Unaudited filleted financial statements
30 April 2019
Dragon Fine Foods Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Dragon Fine Foods Limited
Directors and other information
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Director
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Mr Christopher Isaac
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Company number
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03546290
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Registered office
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5 Carmarthen Road
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Cross Hands
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Carmarthen
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Business address
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5 Carmarthen Road
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Cross Hands
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Carmarthen
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Accountants
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Morgan Hemp
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103-104 Walter Road
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Swansea
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SA1 5QF
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Dragon Fine Foods Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Dragon Fine Foods Limited
Year ended 30 April 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dragon Fine Foods Limited for the year ended 30 April 2019 which comprise the statement of financial position and 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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Dragon Fine Foods Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Dragon Fine Foods Limited and state those matters that we have agreed to state to them, 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dragon Fine Foods Limited and its director as a body for our work or for this report.
It is your duty to ensure that Dragon Fine 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 loss of Dragon Fine Foods Limited. You consider that Dragon Fine 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 Dragon Fine 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.
Morgan Hemp
Chartered Certified Accountants
103-104 Walter Road
Swansea
SA1 5QF
30 January 2020
Dragon Fine Foods Limited
Statement of financial position
30 April 2019
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2019
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2018
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Note
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£
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£
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£
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£
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Current assets
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Debtors
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4
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1
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1
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_______
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_______
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1
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1
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Creditors: amounts falling due
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within one year
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5
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(
6,022)
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(
5,277)
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_______
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_______
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Net current liabilities
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(
6,021)
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(
5,276)
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_______
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_______
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Total assets less current liabilities
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(
6,021)
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(
5,276)
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_______
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_______
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Net liabilities
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(
6,021)
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(
5,276)
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_______
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_______
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Capital and reserves
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Called up share capital
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1
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1
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Profit and loss account
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(
6,022)
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(
5,277)
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_______
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_______
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Shareholder deficit
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(
6,021)
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(
5,276)
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_______
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_______
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For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 January 2020
, and are signed on behalf of the board by:
Mr Christopher Isaac
Director
Company registration number:
03546290
Dragon Fine Foods Limited
Notes to the financial statements
Year ended 30 April 2019
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 5 Carmarthen Road, Cross Hands, Carmarthen.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Debtors
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2019
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2018
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£
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£
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Other debtors
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1
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1
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_______
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_______
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5.
Creditors: amounts falling due within one year
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2019
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2018
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£
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£
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Bank loans and overdrafts
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4,779
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4,977
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Other creditors
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1,243
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300
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_______
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_______
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6,022
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5,277
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_______
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_______
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