REGISTERED NUMBER: 08400899 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30 JUNE 2016

FOR

CHEFBITES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr I Guthrie

Mr C A Williams

Mr D Trott

Mrs S Trott

REGISTERED OFFICE:

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

REGISTERED NUMBER:

08400899 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

FIXED ASSETS

Intangible assets

2

4,391

4,289

Tangible assets

3

58,335

72,439

62,726

76,728

CURRENT ASSETS

Stocks

2,000

1,000

Debtors

42,987

33,595

Cash at bank and in hand

8,958

9,960

53,945

44,555

CREDITORS

Amounts falling due within one year

143,866

150,197

NET CURRENT LIABILITIES

(89,921

)

(105,642

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,195

)

(28,914

)

CREDITORS

Amounts falling due after more than one year

16,379

21,354

NET LIABILITIES

(43,574

)

(50,268

)

CAPITAL AND RESERVES

Called up share capital

4

150

150

Profit and loss account

(43,724

)

(50,418

)

SHAREHOLDERS' FUNDS

(43,574

)

(50,268

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2017 and were signed on its behalf by:

Mr I Guthrie - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis notwithstanding the net liability

currently shown in the balance sheet. The directors, who are the major creditors of the

company, have confirmed their intention to support the company for at least the next 12

months.

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the

year, exclusive of Value Added Tax.

Intangible fixed 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.

Website - 20% on reducing balance

Tangible fixed assets

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

Short leasehold

-

20% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Equipment

-

25% on cost

All fixed assets are initially recorded at cost.

Stocks

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

for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date where transactions or events have occurred at the date

that will result in an obligation to pay more, or a right to pay less or to receive more tax, with

the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value

adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled

over into replacement assets, only to the extent that, at the balance sheet date, there is a

binding agreement to dispose of the assets concerned. However, no provision is made

where, on the basis of all available evidence at the balance sheet date, it is more likely than

not that the taxable gain will be rolled over into replacement assets and charged to tax only

where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is

more likely than not that there will be suitable taxable profits from which the future reversal

of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to

apply in the periods in which timing differences reverse, based on tax rates and laws

enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classified as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and

gains or losses relating to financial liabilities are included in the profit and loss account.

Finance costs are calculated so as to produce a constant rate of return on the outstanding

liability.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classified as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible

fixed assets at their fair value. The capital element of the future payments is treated as a

liability and the interest is charged to the profit and loss account on a straight line basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

6,495

Additions

1,200

At 30 June 2016

7,695

AMORTISATION

At 1 July 2015

2,206

Amortisation for year

1,098

At 30 June 2016

3,304

NET BOOK VALUE

At 30 June 2016

4,391

At 30 June 2015

4,289

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

103,442

Additions

2,283

Disposals

(140

)

At 30 June 2016

105,585

DEPRECIATION

At 1 July 2015

31,003

Charge for year

16,247

At 30 June 2016

47,250

NET BOOK VALUE

At 30 June 2016

58,335

At 30 June 2015

72,439

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

150

Ordinary

£1

150

150