Registered Number 05003969
FREE SPIRITS LTD
Abbreviated Accounts
31 March 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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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 | 3 |
( |
( |
Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
( |
( |
Provisions for liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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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
Tangible assets depreciation policy
Plant and machinery 20% on net book value
Motor vehicles 25% on net book value
Valuation information and policy
Other accounting policies
Assets acquired under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives.
The interest element of the instalments is charged to profit and loss account over the period of the contract.
Rentals paid under operating leases are charged to profit and loss account as incurred.
Grants
Government grants receivable are recognised as other operating income each year apportioned on a systematic basis over the estimated life of the assets acquired with the aid of the grants.
Amounts yet to be credited to profit and loss are shown in the balance sheet within accruals and deferred income.
£ | |
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Cost | |
At 1 April 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2015 |
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Depreciation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
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At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 346,460 |
At 31 March 2014 | 346,489 |
2015
£ |
2014
£ |
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Secured Debts |
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Instalment debts due after 5 years |
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5 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 April 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 March 2015: | £ |