Neame Lea Fresh Limited (formally JVG Herbs Limited)

Neame Lea Fresh Limited (formally JVG Herbs Limited)

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015

Bulley Davey Limited
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

Neame Lea Fresh Limited (formally JVG Herbs Limited)
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Neame Lea Fresh Limited (formally JVG Herbs Limited)
(Registration number: 06653357)
Abbreviated Balance Sheet at 31 October 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets	2	763,304	875,576
Current assets
Stocks		91,665	124,575
Debtors		439,817	872,242
Cash at bank and in hand		242,131	705,946
		773,613	1,702,763
Creditors: Amounts falling due within one year		(1,076,857)	(1,477,220)
Net current (liabilities)/assets		(303,244)	225,543
Total assets less current liabilities		460,060	1,101,119
Provisions for liabilities		(96,140)	(113,465)
Net assets		363,920	987,654
Capital and reserves
Called up share capital	3	745	1,000
Share premium account		(749,745)	-
Profit and loss account		1,112,920	986,654
Shareholders' funds		363,920	987,654

For the year ending 31 October 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 28 July 2016 and signed on its behalf by:

Mr Anthony Ball
Director

Mr David Ball
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Neame Lea Fresh Limited (formally JVG Herbs Limited)
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10%, 20% or 33% straight line
Office equipment	20% straight line

Research and development

Research and development expenditure is written off as incurred.

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Neame Lea Fresh Limited (formally JVG Herbs Limited)
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 November 2014	1	1,199,059	1,199,060
Additions	-	7,684	7,684
At 31 October 2015	1	1,206,743	1,206,744
Depreciation
At 1 November 2014	1	323,483	323,484
Charge for the year	-	119,956	119,956
At 31 October 2015	1	443,439	443,440
Net book value
At 31 October 2015	-	763,304	763,304
At 31 October 2014	-	875,576	875,576

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary A Class of £1 each		255	255		510	510
Ordinary B Class of £1 each		490	490		490	490
		745	745		1,000	1,000

Control

The company is controlled by J Van Gemeren who owned 66% of voting share capital at the year end date. Post year end J Van Gemeren's shares were transferred to Bridge Farm Nurseries Ltd, which is controlled by Mr and Mrs Ball..

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