REGISTERED NUMBER: 07254086 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abersoch Deli Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Middleton

Ms K S Phillips

R J Middleton

REGISTERED OFFICE:

1 Thomas Buildings

New Street

Pwllheli

Gwynedd

LL53 5HH

BUSINESS ADDRESS:

Lon Pen Cei

Abersoch

Pwllheli

Gwynedd

LL53 7AW

REGISTERED NUMBER:

07254086 (England and Wales)

ACCOUNTANTS:

Gwyn Thomas and Co Limited

1 Thomas Buildings

New Street

Pwllheli

Gwynedd

LL53 5HH

FIXED ASSETS

Intangible assets

4

103,950

115,500

Tangible assets

5

21,797

21,515

125,747

137,015

CURRENT ASSETS

Stocks

900

900

Debtors

6

27,253

10,000

Cash at bank and in hand

182,889

154,150

211,042

165,050

CREDITORS

Amounts falling due within one year

7

40,931

39,719

NET CURRENT ASSETS

170,111

125,331

TOTAL ASSETS LESS CURRENT LIABILITIES

295,858

262,346

PROVISIONS FOR LIABILITIES

8

825

615

NET ASSETS

295,033

261,731

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

294,933

261,631

SHAREHOLDERS' FUNDS

295,033

261,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 December 2017 and were signed on its behalf by:

R Middleton - Director

1.	STATUTORY INFORMATION

Abersoch Deli Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

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 the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was amortised evenly

over the estimated useful life of twenty five years up to 31 March 2016. From 1 April 2016 the remainder will be

amortised evenly over the estimated useful life of ten years, being the directors' best estimate of its economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

150,000

AMORTISATION

At 1 April 2016

34,500

Charge for year

11,550

At 31 March 2017

46,050

NET BOOK VALUE

At 31 March 2017

103,950

At 31 March 2016

115,500

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2016

19,210

6,436

25,646

Additions

-

2,426

2,426

At 31 March 2017

19,210

8,862

28,072

DEPRECIATION

At 1 April 2016

768

3,363

4,131

Charge for year

769

1,375

2,144

At 31 March 2017

1,537

4,738

6,275

NET BOOK VALUE

At 31 March 2017

17,673

4,124

21,797

At 31 March 2016

18,442

3,073

21,515

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

27,253

10,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

5,075

9,407

Taxation and social security

11,195

9,285

Other creditors

24,661

21,027

40,931

39,719

8.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

825

615

Deferred

tax

£

Balance at 1 April 2016

615

Charge to Income Statement during year

210

Balance at 31 March 2017

825

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

31.3.17

31.3.16

£

£

R Middleton

Balance outstanding at start of year

(17,038

)

3,883

Amounts advanced

-

421

Amounts repaid

(1,473

)

(21,342

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(18,511

)

(17,038

)

10.	FIRST YEAR ADOPTION

These financial statements are the first financial statements prepared by the company in accordance with FRS

102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS 102). The financial

statements for the year ended 31 March 2016 were prepared in accordance with previous UK GAAP. The date of

transition to FRS 102 was 1 April 2016.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements differ from previous

UK GAAP. Consequently the directors have considered accounting policies to ensure they comply with FRS

102.

None of the balances were affected by the transition.