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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 31/12/16 | 30/6/16 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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Current assets | |||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 7 | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 8 | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Share premium |
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Profit and loss account | ( |
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Shareholders' funds |
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Peter Geobey | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the period from 1 July 2016 to |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ~ the Company has transferred the significant risks and rewards of ownership to the buyer; ~ the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ~ the amount of turnover can be measured reliably; ~ it is probable that the Company will receive the consideration due under the transaction; and ~ the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Intangible fixed assets | ||||||||
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Tangible fixed assets | ||||||||
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a straight line or reducing balance basis. Depreciation is provided on the following basis: |
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Leasehold improvements | 4% straight line | |||||||
Plant and machinery | 25% reducing balance | |||||||
Motor vehicles | 25% reducing balance | |||||||
Office equipment | 33% reducing balance | |||||||
Computer equipment | 33% reducing balance | |||||||
Investments | ||||||||
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. |
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Stocks | ||||||||
At each balance sheet date, stocks are assessed for impairment. If stock is 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. |
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Debtors | ||||||||
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Cash and cash equivalents | ||||||||
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. | ||||||||
Financial instruments | ||||||||
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. | ||||||||
Creditors | ||||||||
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Foreign currency translation | ||||||||
The Company's functional and presentational currency is GBP Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and loss account within 'other operating income'. |
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Finance costs | ||||||||
Finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. | ||||||||
Leased assets | ||||||||
Operating leases Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term. |
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Interest income | ||||||||
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Borrowing costs | ||||||||
All borrowing costs are recognised in the Profit and loss account in the period in which they are incurred. | ||||||||
2 | Employees | 31/12/16 | 30/6/16 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Intangible fixed assets | £ | ||||||
Trademarks: | ||||||||
Cost | ||||||||
At 1 July 2016 |
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At 31 December 2016 |
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Amortisation | ||||||||
At 31 December 2016 | - | |||||||
Net book value | ||||||||
At 31 December 2016 |
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At 30 June 2016 |
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4 | Tangible fixed assets | |||||||
Leasehold improvements | Plant and machinery etc | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 July 2016 |
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Additions |
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At 31 December 2016 |
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Depreciation | ||||||||
At 1 July 2016 |
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Charge for the period |
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At 31 December 2016 |
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Net book value | ||||||||
At 31 December 2016 |
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At 30 June 2016 |
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5 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 July 2016 | 1,641 | |||||||
Additions | 315,445 | |||||||
Foreign exchange movement | 43,640 | |||||||
At 31 December 2016 | 360,726 | |||||||
6 | Debtors | 31/12/16 | 30/6/16 | |||||
£ | £ | |||||||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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VAT |
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Called up share capital not paid | 915 | 915 | ||||||
Other debtors |
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7 | Creditors: amounts falling due within one year | 31/12/16 | 30/6/16 | |||||
£ | £ | |||||||
Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other taxes and social security costs |
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Obligations under finance lease and hire purchase contracts |
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Other creditors |
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Directors loan account |
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Accruals and deferred income | 638,311 | 659,536 | ||||||
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8 | Creditors: amounts falling due after one year | 31/12/16 | 30/6/16 | |||||
£ | £ | |||||||
Other loans |
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Obligations under finance lease and hire purchase contracts |
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9 | Loans | 31/12/16 | 30/6/16 | |||||
Analysis of the maturity of loans is given below | £ | £ | ||||||
Amounts falling due 2-5 years | 442,734 | 420,000 | ||||||
10 | Hire purchase & finance leases | 31/12/16 | 30/6/16 | |||||
Minimum lease payments under hire purchase fall due as follows: | £ | £ | ||||||
HP Liabilities <1yr | 23,379 | 23,260 | ||||||
HP Liabilities 1-2 yrs | 23,629 | 23,502 | ||||||
HP Liabilities 2-5 yrs | 37,149 | 48,995 | ||||||
84,157 | 95,757 | |||||||
11 | Share capital | 31/12/16 | 30/6/16 | |||||
£ | £ | |||||||
Shares classified as equity | ||||||||
Allotted, called up and fully paid | ||||||||
2,700,000 A Ordinary Shares of £0.0001 (2014: £1) each | 270 | 270 | ||||||
300,000 B Ordinary Shares of £0.0001 each | 30 | 30 | ||||||
300 | 300 | |||||||
12 | Other financial commitments | 31/12/16 | 30/6/16 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases |
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13 | Controlling party | |||||||
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