Company Registration No. SC573037 (Scotland)
Fodilicious Limited
Unaudited accounts
for the year ended 31 March 2019
Fodilicious Limited
Company Information
for the year ended 31 March 2019
Directors
Elizabeth Louise Leisk
Lauren Leisk
Company Number
SC573037 (Scotland)
Registered Office
8 Deer Park
Fairways Business Park
Livingston
EH54 8AF
Scotland
Accountants
Poise Accountancy Ltd.
2 Regent Place
Clydebank
G81 3SG
Fodilicious Limited
Accountants' report
Accountants' report to the board of directors of Fodilicious Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Fodilicious Limited for the year ended
31 March 2019 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Fodilicious Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Fodilicious Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fodilicious Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fodilicious Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fodilicious Limited. You consider that Fodilicious Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fodilicious Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Poise Accountancy Ltd.
2 Regent Place
Clydebank
G81 3SG
30 December 2019
Fodilicious Limited
Statement of financial position
as at
31 March 2019
Intangible assets
36,839
7,699
Tangible assets
5,430
6,787
Cash at bank and in hand
17,513
6,001
Creditors: amounts falling due within one year
(63,161)
(27,686)
Net current liabilities
(40,269)
(18,541)
Net assets/(liabilities)
2,000
(4,055)
Called up share capital
100
100
Profit and loss account
1,900
(4,155)
Shareholders' funds
2,000
(4,055)
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 December 2019.
Lauren Leisk
Director
Company Registration No. SC573037
Fodilicious Limited
Notes to the Accounts
for the year ended 31 March 2019
Fodilicious Limited is a private company, limited by shares, registered in Scotland, registration number SC573037. The registered office is 8 Deer Park, Fairways Business Park, Livingston, EH54 8AF, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 3 years on a reducing balance basis, calculated daily from the date of purchase.
Fixtures & fittings
Over 5 years on a reducing balance basis, calculated daily from the date of purchase.
Computer equipment
Over 2 years on a reducing balance basis, calculated daily from the date of purchase.
Intangible fixed assets (specifically capitalised Trademark and Research & Development costs) are included at cost less accumulated amortisation. Amortisation is over 10 years, on a straight line basis, calculated monthly from the month following capitalisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Fodilicious Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Intangible fixed assets
Other
Charge for the year
1,529
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
3,862
2,755
882
7,499
At 31 March 2019
4,576
2,911
882
8,369
At 1 April 2018
296
229
187
712
Charge for the year
1,352
527
348
2,227
At 31 March 2019
1,648
756
535
2,939
At 31 March 2019
2,928
2,155
347
5,430
At 31 March 2018
3,566
2,526
695
6,787
Accrued income and prepayments
3,686
1,886
Fodilicious Limited
Notes to the Accounts
for the year ended 31 March 2019
8
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
408
438
Trade creditors
2,295
1,977
Taxes and social security
(1,570)
(3,100)
Loans from directors
51,812
28,075
9
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan from director
(15,102)
(14,390)
-
(29,492)
Loan from director
(12,973)
(9,347)
-
(22,320)
(28,075)
(23,737)
-
(51,812)
Funds advanced to the firm by the directors.
11
Post balance sheet events
39,900 additional £1 shares were issued on 20th December 2019. These shares have been purchased by the board of directors.
12
Average number of employees
During the year the average number of employees was 2 (2018: 2).