REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2017 |
for |
Agnews (Fishmongers) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2017 |
for |
Agnews (Fishmongers) Limited |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Agnews (Fishmongers) Limited |
Company Information |
for the Year Ended 30 September 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
145 St Vincent Street |
Glasgow |
G2 5JF |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Balance Sheet |
30 September 2017 |
30.9.17 | 30.9.16 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Balance Sheet - continued |
30 September 2017 |
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 |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
1. | STATUTORY INFORMATION |
Agnews (Fishmongers) Limited is a |
registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
date of transition to FRS 102 Section 1A is 1 October 2015. |
FRS 102 1A Small Entities requires investment properties to be reported at fair value, with any movements being |
recognised in the profit and loss account. Prior to this, under UK GAAP, investment properties were |
held at cost with any movements being held within reserves. |
FRS 102 1A Small Entities requires deferred tax has to be provided for on all timing differences. |
The impact of these changes can be seen on pages 11-13 of the financial statements. |
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 |
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 |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment properties are held at fair value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Debtors |
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any |
irrecoverable amounts when there is objective evidence the asset is impaired. |
Cash and cash equivalents |
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet |
bank overdrafts are shown in creditors amounts falling due within one year. |
Creditors |
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a |
past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
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. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2016 |
Disposals | ( |
) |
At 30 September 2017 |
AMORTISATION |
At 1 October 2016 |
Eliminated on disposal | ( |
) |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2016 |
and 30 September 2017 |
DEPRECIATION |
At 1 October 2016 |
Charge for year |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2016 |
Revaluations | 55,258 |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
Investment properties have a historic cost of £160,119 (2016: £160,119). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Trade creditors |
Other creditors |
Agnews (Fishmongers) Limited (Registered number: SC045977) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2016 |
Fair value | 55,258 |
Deferred tax | (1,419 | ) |
At 30 September 2017 |