Plain Fresh Limited 07533478 false 2017-03-31 2018-03-30 2018-03-30 The principal activity of the company is the management of market trades and commercial premises Digita Accounts Production Advanced 6.21.8540.0 Software true 07533478 2017-03-31 2018-03-30 07533478 2018-03-30 07533478 bus:OrdinaryShareClass1 2018-03-30 07533478 core:RetainedEarningsAccumulatedLosses 2018-03-30 07533478 core:ShareCapital 2018-03-30 07533478 core:CurrentFinancialInstruments 2018-03-30 07533478 core:CurrentFinancialInstruments core:WithinOneYear 2018-03-30 07533478 core:Non-currentFinancialInstruments 2018-03-30 07533478 core:Non-currentFinancialInstruments core:AfterOneYear 2018-03-30 07533478 core:FurnitureFittingsToolsEquipment 2018-03-30 07533478 core:MotorVehicles 2018-03-30 07533478 bus:SmallEntities 2017-03-31 2018-03-30 07533478 bus:AuditExemptWithAccountantsReport 2017-03-31 2018-03-30 07533478 bus:FullAccounts 2017-03-31 2018-03-30 07533478 bus:SmallCompaniesRegimeForAccounts 2017-03-31 2018-03-30 07533478 bus:RegisteredOffice 2017-03-31 2018-03-30 07533478 bus:CompanySecretaryDirector1 2017-03-31 2018-03-30 07533478 bus:Director2 2017-03-31 2018-03-30 07533478 bus:OrdinaryShareClass1 2017-03-31 2018-03-30 07533478 bus:PrivateLimitedCompanyLtd 2017-03-31 2018-03-30 07533478 core:FurnitureFittingsToolsEquipment 2017-03-31 2018-03-30 07533478 core:MotorVehicles 2017-03-31 2018-03-30 07533478 core:OfficeEquipment 2017-03-31 2018-03-30 07533478 countries:AllCountries 2017-03-31 2018-03-30 07533478 2017-03-30 07533478 core:FurnitureFittingsToolsEquipment 2017-03-30 07533478 core:MotorVehicles 2017-03-30 07533478 2016-03-31 2017-03-30 07533478 2017-03-30 07533478 bus:OrdinaryShareClass1 2017-03-30 07533478 core:RetainedEarningsAccumulatedLosses 2017-03-30 07533478 core:ShareCapital 2017-03-30 07533478 core:CurrentFinancialInstruments 2017-03-30 07533478 core:CurrentFinancialInstruments core:WithinOneYear 2017-03-30 07533478 core:Non-currentFinancialInstruments 2017-03-30 07533478 core:Non-currentFinancialInstruments core:AfterOneYear 2017-03-30 07533478 core:FurnitureFittingsToolsEquipment 2017-03-30 07533478 core:MotorVehicles 2017-03-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07533478

Plain Fresh Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 March 2018

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

Plain Fresh Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Plain Fresh Limited

Company Information

Directors

E Preston-Gill

J J Leiper

Company secretary

E Preston-Gill

Registered office

Keepers Cottage
The Warren
West Lavington
Devizes
Wiltshire
SN10 4AE

Accountants

Newsham Hanson Ltd
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

Plain Fresh Limited

(Registration number: 07533478)
Balance Sheet as at 30 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

3,660

3,268

Current assets

 

Debtors

5

13,101

1,610

Cash at bank and in hand

 

6,127

4,298

 

19,228

5,908

Creditors: Amounts falling due within one year

6

(7,727)

(3,739)

Net current assets

 

11,501

2,169

Total assets less current liabilities

 

15,161

5,437

Creditors: Amounts falling due after more than one year

6

(20,246)

-

Net (liabilities)/assets

 

(5,085)

5,437

Capital and reserves

 

Called up share capital

7

20

20

Profit and loss account

(5,105)

5,417

Total equity

 

(5,085)

5,437

For the financial year ending 30 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 September 2018 and signed on its behalf by:
 

.........................................

E Preston-Gill
Company secretary and director

 

Plain Fresh Limited

Notes to the Financial Statements for the Year Ended 30 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Keepers Cottage
The Warren
West Lavington
Devizes
Wiltshire
SN10 4AE

These financial statements were authorised for issue by the Board on 17 September 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Plain Fresh Limited

Notes to the Financial Statements for the Year Ended 30 March 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line basis

Motor Vehicles

25% straight line basis

Office equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Plain Fresh Limited

Notes to the Financial Statements for the Year Ended 30 March 2018

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

 

Plain Fresh Limited

Notes to the Financial Statements for the Year Ended 30 March 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 31 March 2017

5,442

4,794

10,236

Additions

3,399

-

3,399

At 30 March 2018

8,841

4,794

13,635

Depreciation

At 31 March 2017

3,371

3,596

6,967

Charge for the year

1,810

1,198

3,008

At 30 March 2018

5,181

4,794

9,975

Carrying amount

At 30 March 2018

3,660

-

3,660

At 30 March 2017

2,070

1,198

3,268

5

Debtors

2018
£

2017
£

Trade debtors

786

800

Prepayments

235

810

Other debtors

12,080

-

13,101

1,610

6

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Bank loans and overdrafts

8

4,909

800

Trade creditors

 

1,958

810

Amounts owed to related parties

-

451

Other creditors

 

860

1,678

 

7,727

3,739

Due after one year

 

Loans and borrowings

8

20,246

-

 

Plain Fresh Limited

Notes to the Financial Statements for the Year Ended 30 March 2018

Creditors: amounts falling due after more than one year

Note

2018
£

2017
£

Due after one year

 

Loans and borrowings

8

20,246

-

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

20

20

20

20

         

8

Loans and borrowings

2018
£

2017
£

Non-current loans and borrowings

Bank borrowings

20,246

-

2018
£

2017
£

Current loans and borrowings

Bank borrowings

4,109

-

Other borrowings

800

800

4,909

800