REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED |
30 JUNE 2016 |
FOR |
CHEFBITES LTD |
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED |
30 JUNE 2016 |
FOR |
CHEFBITES LTD |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
CHEFBITES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2016 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
ABBREVIATED BALANCE SHEET |
30 JUNE 2016 |
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2016 |
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 were approved by the Board of Directors on signed on its behalf by: |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
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 |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Equipment | - |
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. |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
1. | ACCOUNTING POLICIES - continued |
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. |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
Additions |
At 30 June 2016 |
AMORTISATION |
At 1 July 2015 |
Amortisation for year |
At 30 June 2016 |
NET BOOK VALUE |
At 30 June 2016 |
At 30 June 2015 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
Additions |
Disposals | ( |
) |
At 30 June 2016 |
DEPRECIATION |
At 1 July 2015 |
Charge for year |
At 30 June 2016 |
NET BOOK VALUE |
At 30 June 2016 |
At 30 June 2015 |
CHEFBITES LTD (REGISTERED NUMBER: 08400899) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
Ordinary | £1 |