REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2016 |
for |
Fine Food Hampers Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2016 |
for |
Fine Food Hampers Limited |
Fine Food Hampers Limited (Registered number: 07417289) |
Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Fine Food Hampers Limited |
Company Information |
for the Year Ended 31 December 2016 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
BANKERS: |
3-4 Jameson Street |
Hull |
East Yorkshire |
HU1 3JX |
Fine Food Hampers Limited (Registered number: 07417289) |
Balance Sheet |
31 December 2016 |
31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Fine Food Hampers Limited (Registered number: 07417289) |
Balance Sheet - continued |
31 December 2016 |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss account has not been delivered. |
The financial statements were approved by the director on |
Fine Food Hampers Limited (Registered number: 07417289) |
Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
1. | STATUTORY INFORMATION |
Fine Food Hampers Limited is a |
company's 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 |
Turnover |
Turnover represents net invoiced provision of goods and services, excluding value added tax. |
Revenue Recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date |
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 |
Fixtures and fittings | - |
Computer equipment | - |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where |
it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount |
of the cash-generating unit to which the asset belongs. |
Stocks |
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and |
slow moving items. Overheads are charged to profit and loss as incurred. Net realisable value is based on the |
estimated selling price less any estimated completion or selling costs. |
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which its |
related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of |
stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any |
reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an |
expense in the period in which the reversal occurs. |
Fine Food Hampers Limited (Registered number: 07417289) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
AMORTISATION |
At 1 January 2016 |
Charge for year |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
Fine Food Hampers Limited (Registered number: 07417289) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2016 |
DEPRECIATION |
At 1 January 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 91,910 | 31,911 |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.16 | 31.12.15 |
£ | £ |
Within one year |
Fine Food Hampers Limited (Registered number: 07417289) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary A | £1 | 1 | - |
Ordinary B | £1 | 1 | - |
Ordinary C | £1 | 1 | - |
103 | 100 |
The following shares were issued during the year for cash at par : |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2016 |
Profit for the year |
Dividends | ( |
) |
At 31 December 2016 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2016 and |
31 December 2015: |
31.12.16 | 31.12.15 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The sum is interest free and repayable on demand. |
12. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £60,000 (2015 - £33,000) were paid to the director . |
During the year, Mrs T Porter, the director, provided consultancy services to the company through her employment with an independent firm of consultants. The total value of the consultancy services provided was £0 (2015 - £59,274). The transactions were conducted on an arm's length basis, and under normal commercial terms. At the year end, an amount of £0 (2015 - £0) was outstanding. |
Fine Food Hampers Limited (Registered number: 07417289) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
13. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the director. |
14. | FIRST YEAR ADOPTION |
On transition to FRS102 the company has taken advantage of the following transitional relief: |
- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes. |
- Not to include immaterial employee benefits accruing at the balance sheet date. |