Registered Number 04597788
WRAGBY FISH BAR LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
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 current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the
company has fulfilled its contractual obligations and the risks and rewards attaching to the sale
have been transferred to the customer.
Tangible assets depreciation policy
over the useful economic life of that asset as follows:
Equipment - 25% reducing balance
Intangible assets amortisation policy
over the useful economic life of that asset as follows:
Goodwill - 20 years straight line
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after
making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of
ownership remain with the lessor are charged against profits on a straight line basis over the
period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or right to pay less or to receive more, tax.
The only exception is that deferred tax assets are recognised only to the extent that the directors
consider that it is more likely than not that there will be suitable taxable profits from which the
future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in
the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments. An
equity instrument is any contract that evidences a residual interest in the assets of the company
after deducting all of its liabilities.
£ | |
---|---|
Cost | |
At 1 January 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2015 |
|
Amortisation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2015 |
|
Net book values | |
At 31 December 2015 | 22,532 |
At 31 December 2014 | 25,751 |
£ | |
---|---|
Cost | |
At 1 January 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2015 |
|
Depreciation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2015 |
|
Net book values | |
At 31 December 2015 | 4,464 |
At 31 December 2014 | 5,702 |