All Round Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07771190 (England and Wales)

All Round Trading Limited

Unaudited Financial Statements

for the Year Ended 31 May 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

RJ Taylor

REGISTERED OFFICE:

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

REGISTERED NUMBER:

07771190 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Tangible assets

4

47,508

46,406

CURRENT ASSETS

Stocks

5

500

500

Debtors

6

57,208

57,141

Cash at bank

105,157

66,525

162,865

124,166

CREDITORS

Amounts falling due within one year

7

85,363

62,281

NET CURRENT ASSETS

77,502

61,885

TOTAL ASSETS LESS CURRENT LIABILITIES

125,010

108,291

CREDITORS

Amounts falling due after more than one year

8

(81,681

)

(78,167

)

PROVISIONS FOR LIABILITIES

10

(6,560

)

(6,699

)

NET ASSETS

36,769

23,425

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

36,669

23,325

SHAREHOLDERS' FUNDS

36,769

23,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 1 February 2020 and were signed by:

RJ Taylor - Director

1.	STATUTORY INFORMATION

All Round Trading Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions

of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are

initially measured at transaction price and are subsequently carried at cost unless the arrangement

indicates otherwise and then the asset is measured at the present value of the future receipts

discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals,

bank loans and group borrowings, are initially recognised at transaction price and are subsequently

carried at cost unless the arrangement indicates otherwise and then the liability is measured at the

present value of the future obligations discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 June 2018

22,299

15,936

109,694

147,929

Additions

-

3,677

12,517

16,194

At 31 May 2019

22,299

19,613

122,211

164,123

DEPRECIATION

At 1 June 2018

11,150

12,155

78,218

101,523

Charge for year

2,229

1,864

10,999

15,092

At 31 May 2019

13,379

14,019

89,217

116,615

NET BOOK VALUE

At 31 May 2019

8,920

5,594

32,994

47,508

At 31 May 2018

11,149

3,781

31,476

46,406

5.

STOCKS

2019

2018

£

£

Stock

500

500

6.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Prepayments

3,515

3,282

2019

2018

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

53,693

53,859

Aggregate amounts

57,208

57,141

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

6,518

10,000

Trade creditors

20,861

22,915

Taxation and social security

31,140

28,474

Other creditors

26,844

892

85,363

62,281

The amount owing to the director is unsecured, bears no interest and has no fixed repayment terms.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

39,681

24,167

Other creditors

42,000

54,000

81,681

78,167

Other creditors is an amount owing to the director. This sum is unsecured, bears no interest and has

no fixed repayment terms.

9.	SECURED DEBTS

The bank borrowings are secured by the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

6,560

6,699

Deferred

tax

£

Balance at 1 June 2018

6,699

Credit to Income Statement during year

(139

)

Balance at 31 May 2019

6,560

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Changos Burrito Bar Limited, a company registered in England and

Wales.

In the opinion of the director the company is ultimately controlled by Mr RJ Taylor by virtue of his

shareholding in the ultimate parent company.