true
ChefBites Ltd
08400899
165 5966 65
2015-06-30
-50418
-52317
-50268
-52167
150
150
-50268
-52167
21354
132592
-28914
80425
-105642
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1000
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Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The accounts have been prepared on a going concern basis notwithstanding the net liability currently shown on the balance sheet. The directors, who are major creditors of the company, have confirmed their intention to support the company for at least the next 12 months.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
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 taxation is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Deferred taxation assets are only recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & Machinery
reducing balance
0.2000
Fixtures & Fittings
reducing balance
0.2000
Motor Vehicles
reducing balance
0.2000
Computer Equipment
straight line
0.2500
Leasehold Property
straight line
0.2000
Website
reducing balance
0.2000
109937
97481
12456
33209
15903
17306
109937
97481
12456
33209
15903
17306
Ordinary
150
1
150
150
Ordinary
1
150
150
150
2016-03-22
Mr I Guthrie
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
ChefBites Ltd
2014-07-01
2015-06-30
ChefBites Ltd
2013-02-13
2014-06-30
ChefBites Ltd
2013-02-12
ChefBites Ltd
2014-06-30
ChefBites Ltd
2014-06-30
ChefBites Ltd
2015-06-30
2016-03-30