ABC Chinese Takeaway Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC539259 (Scotland)

ABC Chinese Takeaway Limited

Unaudited Financial Statements

for the Year Ended 31 July 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K C Fong

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AS

REGISTERED NUMBER:

SC539259 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland

Kirkcaldy Branch

23/25 Rosslyn Street

Kirkcaldy

KY1 3HW

FIXED ASSETS

Tangible assets

4

385

770

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

5

967

2,029

Cash at bank and in hand

7,544

7,249

10,511

11,278

CREDITORS

Amounts falling due within one year

6

14,554

16,231

NET CURRENT LIABILITIES

(4,043

)

(4,953

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,658

)

(4,183

)

PROVISIONS FOR LIABILITIES

65

146

NET LIABILITIES

(3,723

)

(4,329

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,823

)

(4,429

)

SHAREHOLDERS' FUNDS

(3,723

)

(4,329

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director on 5 February 2020 and were signed by:

Mr K C Fong - Director

1.	STATUTORY INFORMATION

ABC Chinese Takeaway Limited is a private company, limited by shares , registered in Scotland. The

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

Information page.

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 and revenue recognition

Turnover, which represents invoiced sales of goods, is recognised at the point when a meal is

served or delivered to the customer

Tangible fixed assets

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

Equipment

-

25% on cost

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and

subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation

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

Statement, 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 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 August 2018

and 31 July 2019

1,540

DEPRECIATION

At 1 August 2018

770

Charge for year

385

At 31 July 2019

1,155

NET BOOK VALUE

At 31 July 2019

385

At 31 July 2018

770

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

967

2,029

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

6,530

6,875

Other creditors

8,024

9,356

14,554

16,231

The director's current account is unsecured, interest free and has no fixed repayment period.

7.	GOING CONCERN

The financial statements have been prepared on the going concern principal which assumes that the

company will continue to function in the foreseeable future. In order to do so the company will

require the continued support of its director, bankers and creditors. The director will continue to

support the company and is confident of the continued support of the bank.