Registered Number SC396745
ABBOTS' KITCHEN LIMITED
Abbreviated Accounts
30 September 2014
Notes | 2014 | 2013 | |
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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 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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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
Other accounting policies
Following the losses incurred during the year the validity of this assumption depends upon the company's ability to secure the support of its parent company and also on the financial performance of the company’s parent company. The directors have considered the company's potential for utilising the company's resources and generating income sufficient to ensure the company’s ability to continue as a going concern.
The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available and although there can be no certainty in such matters they consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not include any adjustments that would result if the directors' plans to generate future income streams and limit exposure to the related party mentioned above are unsuccessful.
Turnover
Turnover consists of sales of goods in the period, excluding VAT, falling within the company’s ordinary activities.
Stock
Stock is held at the lower of cost and net realisable value.
Expenditure
Expenditure is recognised when a liability falls due.
Leasing commitments
Assets obtained under finance leases are capitalised in the Balance Sheet and depreciated over their useful lives. The interest element is charged to the Profit and Loss over the relevant period. The capital element of future payments is treated as a liability.
Fixed assets and depreciation
Tangible assets are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at their value on receipt.
Depreciation is calculated to write off the cost of tangible fixed assets over their useful economic lives. The rates used are as follows:-
Café & Kitchen equipment - 20% pa straight line
£ | |
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Cost | |
At 1 October 2013 |
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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 30 September 2014 |
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Depreciation | |
At 1 October 2013 |
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Charge for the year |
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On disposals |
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At 30 September 2014 |
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Net book values | |
At 30 September 2014 | 3,339 |
At 30 September 2013 | 3,071 |