| DANNY'S CHINESE RESTAURANT LTD |
| Registered number: |
09303654 |
| Balance Sheet |
| as at 30 November 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
68,833 |
|
|
- |
| Tangible assets |
4 |
|
|
147,433 |
|
|
6,400 |
|
|
|
|
216,266 |
|
|
6,400 |
|
| Current assets |
| Stocks |
|
|
4,835 |
|
|
4,330 |
| Debtors |
5 |
|
13,805 |
|
|
3,219 |
| Cash at bank and in hand |
|
|
35,755 |
|
|
49,733 |
|
|
|
54,395 |
|
|
57,282 |
|
| Creditors: amounts falling due within one year |
6 |
|
(114,951) |
|
|
(62,421) |
|
| Net current liabilities |
|
|
|
(60,556) |
|
|
(5,139) |
|
| Total assets less current liabilities |
|
|
|
155,710 |
|
|
1,261 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(122,596) |
|
|
- |
|
|
|
| Net assets |
|
|
|
33,114 |
|
|
1,261 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
90 |
|
|
90 |
| Profit and loss account |
|
|
|
33,024 |
|
|
1,171 |
|
| Shareholders' funds |
|
|
|
33,114 |
|
|
1,261 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| MR. KOWK CHUNG LI |
| Director |
| Approved by the board on 17 April 2019 |
|
| DANNY'S CHINESE RESTAURANT LTD |
| Notes to the Accounts |
| for the year ended 30 November 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents net retail sales excluding Value Added Tax. |
|
|
Intangible fixed assets |
|
The acquisition cost of goodwill is written off over its estimated useful economic life of 10 years. |
|
|
Tangible fixed assets |
|
Fixed assets are shown at cost. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life, as follows: |
|
|
Leasehold property |
Straight Line over remaining term of the lease |
|
Fixtures, fittings and equipment |
15% per annum on cost |
|
Computer equipment |
33.33% per annum on cost |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
18 |
|
17 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
Additions |
70,000 |
|
At 30 November 2018 |
70,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
Provided during the year |
1,167 |
|
At 30 November 2018 |
1,167 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2018 |
68,833 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Short leasehold property |
|
Fixtures, fittings & equipment |
|
Computer equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 December 2017 |
- |
|
7,760 |
|
3,100 |
|
10,860 |
|
Additions |
113,246 |
|
30,295 |
|
1,787 |
|
145,328 |
|
At 30 November 2018 |
113,246 |
|
38,055 |
|
4,887 |
|
156,188 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2017 |
- |
|
2,265 |
|
2,195 |
|
4,460 |
|
Charge for the year |
1,315 |
|
1,945 |
|
1,035 |
|
4,295 |
|
At 30 November 2018 |
1,315 |
|
4,210 |
|
3,230 |
|
8,755 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2018 |
111,931 |
|
33,845 |
|
1,657 |
|
147,433 |
|
At 30 November 2017 |
- |
|
5,495 |
|
905 |
|
6,400 |
|
|
| 5 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Other debtors |
13,805 |
|
3,219 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
6,351 |
|
- |
|
Trade creditors |
5,760 |
|
6,170 |
|
Taxation and social security costs |
19,934 |
|
26,341 |
|
Other creditors |
82,906 |
|
29,910 |
|
|
|
|
|
|
114,951 |
|
62,421 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans |
122,596 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
DANNY'S CHINESE RESTAURANT LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
8 Wing Yip Business Centre |
|
395 Edgware Road |
|
London |
|
NW2 6LN |
