Registered Number 08422403
THE FAB BAKERS LTD
Abbreviated Accounts
28 February 2016
Notes | 2016 | 2015 | |
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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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Creditors: amounts falling due after more than one year |
( |
( |
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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 | 4 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
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
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:
Freehold buildings 15% on RBM
Plant and machinery 25% on RBM
Other accounting policies
Stock and work in progress is valued at the lower of cost and estimated net realisable value.
Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.
b) Deferred taxation
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
c) Ultimate controlling party
The controlling party is Mr F Ecuvillon by virtue of his 100% holding of the share capital of the company
d) Related party transactions
At the balance sheet date the director, F Ecuvillon was owed £114,456 (2015:£129,050). This was interest free loan to the company
£ | |
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Cost | |
At 1 March 2015 |
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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 28 February 2016 |
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Amortisation | |
At 1 March 2015 |
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Charge for the year |
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On disposals |
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At 28 February 2016 |
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Net book values | |
At 28 February 2016 | 83,125 |
At 28 February 2015 | 99,750 |
£ | |
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Cost | |
At 1 March 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 28 February 2016 |
|
Depreciation | |
At 1 March 2015 |
|
Charge for the year |
|
On disposals |
|
At 28 February 2016 |
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Net book values | |
At 28 February 2016 | 20,849 |
At 28 February 2015 | 23,574 |