Curzon Grill Limited - Period Ending 2014-05-31

Registration number: 04433935

Curzon Grill Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

Curzon Grill Limited
(Registration number: 04433935)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			105,178			104,401
Current assets
Stocks					900			1,091
Debtors					799			2,090
Cash at bank and in hand					82,395			91,830
					84,094			95,011
Creditors: Amounts falling due within one year					(32,894)			(46,216)
Net current assets					51,200			48,795
Total assets less current liabilities					156,378			153,196
Provisions for liabilities					(7,597)			(7,345)
Net assets					148,781			145,851
Capital and reserves
Called up share capital		3			62			62
Profit and loss account					148,719			145,789
Shareholders' funds					148,781			145,851

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Curzon Grill Limited
(Registration number: 04433935)
Abbreviated Balance Sheet at 31 May 2014
......... continued

For the year ending 31 May 2014 the company was entitled to exemption 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 13 February 2015 and signed on its behalf by:

.........................................
Mr S Tunstall
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Curzon Grill Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Motor vehicles	20% reducing balance basis
Equipment	10% reducing balance basis
Furniture and crockery	10% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Page 3

Curzon Grill Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		144,176			144,176
Additions		5,490			5,490
At 31 May 2014		149,666			149,666
Depreciation
At 1 June 2013		39,775			39,775
Charge for the year		4,713			4,713
At 31 May 2014		44,488			44,488
Net book value
At 31 May 2014		105,178			105,178
At 31 May 2013		104,401			104,401

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2
Ordinary A shares of £1 each		20			20			20			20
Ordinary B shares of £1 each		20			20			20			20
Ordinary C shares of £1 each		20			20			20			20
		62			62			62			62

Page 4