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Company registration number: 0680603

Plamil Foods Limited
 

 
Annual Report and Unaudited Abbreviated Accounts
 

 
Year Ended 31 January 2016
 

Beresfords
 
Chartered Accountants

 
Castle House

 
Castle Hill Avenue

 
Folkestone

 
Kent

 
CT20 2TQ

 

Plamil Foods Limited
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 6

 

Plamil Foods Limited
(Company registration number: 0680603)
Abbreviated Balance Sheet
31 January 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

493,253

   

431,401

 

Investments

 

   

100

   

100

 
   

   

493,353

   

431,501

 

Current assets

 

             

Stocks

 

   

428,857

   

378,376

 

Debtors

 

   

631,442

   

573,049

 

Cash at bank and in hand

 

   

689,899

   

595,753

 
   

   

1,750,198

   

1,547,178

 

Creditors: Amounts falling due within one year

 

   

(305,022)

   

(353,729)

 

Net current assets

 

   

1,445,176

   

1,193,449

 

Total assets less current liabilities

 

   

1,938,529

   

1,624,950

 

Provisions for liabilities

 

   

(75,543)

   

(61,680)

 

Net assets

 

   

1,862,986

   

1,563,270

 

Capital and reserves

 

             

Called up share capital

 

3

   

54,125

   

54,125

 

Capital redemption reserve

 

   

1,000

   

1,000

 

Revaluation reserve

 

   

42,566

   

42,566

 

Profit and loss account

 

   

1,765,295

   

1,465,579

 

Shareholders' funds

 

   

1,862,986

   

1,563,270

 

The notes on pages 3 to 6 form an integral part of these financial statements.
 

 
Page 1

 

Plamil Foods Limited
(Company registration number: 0680603)
Abbreviated Balance Sheet
31 January 2016......... continued

For the year ending 31 January 2016 the company was entitled to exemption from audit 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 26 August 2016 and signed on its behalf by:

.........................................
A J Ling
Director

.........................................
H Atkinson
Director

The notes on pages 3 to 6 form an integral part of these financial statements.
 

 
Page 2

 

Plamil Foods Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016......... 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 January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

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

Freehold land and buildings

Are not depreciated.

Leasehold improvements

10% on cost.

Plant and machinery

10% or 20% on cost.

Office equipment

10%, 20% or 33.3% on cost

Fixed asset investments

Fixed asset investments are stated at historical cost.

Stock

Stock are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

 

Plamil Foods Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016......... continued

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

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

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.

 

Plamil Foods Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016......... continued

2

Fixed assets

   

Tangible assets
£

   

Investments
£

   

Total
£

 

Cost

                 

At 1 February 2015

 

1,010,149

   

100

   

1,010,249

 

Additions

 

172,646

   

-

   

172,646

 

Disposals

 

(66,706)

   

-

   

(66,706)

 

At 31 January 2016

 

1,116,089

   

100

   

1,116,189

 

Depreciation

                 

At 1 February 2015

 

578,748

   

-

   

578,748

 

Charge for the year

 

109,367

   

-

   

109,367

 

Eliminated on disposals

 

(65,279)

   

-

   

(65,279)

 

At 31 January 2016

 

622,836

   

-

   

622,836

 

Net book value

                 

At 31 January 2016

 

493,253

   

100

   

493,353

 

At 31 January 2015

 

431,401

   

100

   

431,501

 

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings

The Kent Dark Chocolate Company Limited

England

Ordinary shares

100%

Chocolate products

 

Plamil Foods Limited
Notes to the Abbreviated Accounts
Year Ended 31 January 2016......... continued

The loss for the financial period of The Kent Dark Chocolate Company Limited was £6,864 and the aggregate amount of capital and reserves at the end of the period was (£9,110).

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

54,100

   

54,100

   

54,100

   

54,100

 

Founders deferred shares of £0.05 each

 

500

   

25

   

500

   

25

 
   

54,600

   

54,125

   

54,600

   

54,125

 

4

Control

The company is controlled by the directors as a result of their personal shareholdings and those held by a trust of which they are trustees.


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