Key West Restaurant Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04714825 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

for

Key West Restaurant Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D Brooks

REGISTERED OFFICE:

1 Langham Grange

Langham

Bury St Edmunds

Suffolk

IP31 3EE

REGISTERED NUMBER:

04714825 (England and Wales)

ACCOUNTANTS:

KPSK Accounts and Tax Limited

1 Langham Grange

Langham

Bury St Edmunds

Suffolk

IP31 3EE

FIXED ASSETS

Tangible assets

2

195,826

197,659

CURRENT ASSETS

Debtors

2,028

110

Cash at bank

60,070

59,809

62,098

59,919

CREDITORS

Amounts falling due within one year

3

12,655

39,506

NET CURRENT ASSETS

49,443

20,413

TOTAL ASSETS LESS CURRENT LIABILITIES

245,269

218,072

CREDITORS

Amounts falling due after more than one year

3

-

(502

)

PROVISIONS FOR LIABILITIES

(4,915

)

(4,954

)

NET ASSETS

240,354

212,616

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

240,353

212,615

SHAREHOLDERS' FUNDS

240,354

212,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 February 2015 and were signed by:

D Brooks - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Freehold property

Depreciation has not been charged on freehold property as the asset is continually maintained to a high state of

repair and improved such that its useful economic life is so long that any depreciation is immaterial.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

251,338

Additions

4,133

At 31 May 2014

255,471

DEPRECIATION

At 1 June 2013

53,679

Charge for year

5,966

At 31 May 2014

59,645

NET BOOK VALUE

At 31 May 2014

195,826

At 31 May 2013

197,659

3.

CREDITORS

Creditors include an amount of £ 0 (31/5/13 - £ 8,402 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/14

31/5/13

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £4,582 (2013: £23,465) owed to Mr D Brooks, director.