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Registration number: 04428525

First Choice Foods Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

The Melia Partnership
Chartered Certified Accountants
Park House
91 Garstang Road
Preston
Lancs
PR1 1LD

 

First Choice Foods Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

First Choice Foods Limited
(Registration number: 04428525)
Abbreviated Balance Sheet at 30 April 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

2,948

   

3,418

 

Current assets

 

             

Stocks

 

   

16,652

   

18,693

 

Debtors

 

   

45,433

   

42,530

 

Cash at bank and in hand

 

   

828

   

2,346

 
   

   

62,913

   

63,569

 

Creditors: Amounts falling due within one year

 

   

(59,332)

   

(57,947)

 

Net current assets

 

   

3,581

   

5,622

 

Net assets

 

   

6,529

   

9,040

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

6,429

   

8,940

 

Shareholders' funds

 

   

6,529

   

9,040

 

For the year ending 30 April 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 25 January 2016 and signed on its behalf by:

.........................................
Mr Michael Gravestock
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

First Choice Foods Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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.

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

15% Reducing balance

Fixtures, fittings and equipment

15% Reducing balance

Stock

Stock is 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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

First Choice Foods Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 May 2014

 

12,895

   

12,895

 

At 30 April 2015

 

12,895

   

12,895

 

Depreciation

           

At 1 May 2014

 

9,477

   

9,477

 

Charge for the year

 

470

   

470

 

At 30 April 2015

 

9,947

   

9,947

 

Net book value

           

At 30 April 2015

 

2,948

   

2,948

 

At 30 April 2014

 

3,418

   

3,418

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

100

   

100

   

100

   

100