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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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Deeside Cuisine Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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for |
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Deeside Cuisine Ltd |
Deeside Cuisine Ltd (Registered number: SC208531) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Deeside Cuisine Ltd |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
46 High Street |
Banchory |
Aberdeenshire |
AB31 5SR |
Deeside Cuisine Ltd (Registered number: SC208531) |
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Statement of Financial Position |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Deeside Cuisine Ltd (Registered number: SC208531) |
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Statement of Financial Position - continued |
30 June 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Deeside Cuisine Ltd (Registered number: SC208531) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Deeside Cuisine Ltd is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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These financial statements for the year ended 30 June 2017 are the first financial statements that comply with |
FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015. An explanation of how transition to |
FRS 102 Section 1A has affected the reported financial position and financial performance is given in the notes |
below. |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and with the Companies Act 2006. The financial statements have been prepared under the historical |
cost convention. |
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Revenue recognition |
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable |
for goods supplied and services rendered. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Land and buildings is comprised of freehold property. The company accounts for land and buildings using the |
historic cost model. It is the opinion of the directors that the valuation is not materially different from cost. |
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Land is not depreciated. Depreciation on other assets is provided at the following annual rates in order to write |
off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the |
shorter. |
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Depreciation is provided at the following annual rates in order to write off each asset over its expected useful |
life. |
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Plant and Machinery- 20% on straight line |
Computer Equipment- 33% on straight line |
Fixtures and fittings 20% on straight line |
Freehold Property in accordance with the property |
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Inventories |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Deeside Cuisine Ltd (Registered number: SC208531) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank |
loans and directors' loans. |
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Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
and subsequently at amortised cost using the effective interest method. |
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Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the |
undiscounted amount of cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Deeside Cuisine Ltd (Registered number: SC208531) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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AMORTISATION |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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Disposals | ( |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Deeside Cuisine Ltd (Registered number: SC208531) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts and finance leases |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts and finance leases |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £14,400 were paid to the directors . |
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11. | FIRST YEAR ADOPTION |
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The company has not recognised any adjustments on transition to FRS102 Section 1A from the date of transition |
being 1 July 2015. |