Abbreviated Company Accounts - OLLIES RESTAURANT LTD

OLLIES RESTAURANT LTD - Company Information

Registered Number 08617188

OLLIES RESTAURANT LTD

Abbreviated Accounts

31 August 2014

OLLIES RESTAURANT LTD Registered Number 08617188

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014
		£
Fixed assets
Intangible assets	2	7,956
Tangible assets	3	1,054
		9,010
Current assets
Stocks		4,895
Debtors		5,681
Cash at bank and in hand		35,461
		46,037
Creditors: amounts falling due within one year		(54,340)
Net current assets (liabilities)		(8,303)
Total assets less current liabilities		707
Provisions for liabilities		(211)
Total net assets (liabilities)		496
Capital and reserves
Called up share capital		1
Profit and loss account		495
Shareholders' funds		496

For the year ending 31 August 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.

Approved by the Board on 16 April 2015

And signed on their behalf by:
Natasha Boulter, Director

OLLIES RESTAURANT LTD Registered Number 08617188

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company’s ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life.

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

2Intangible fixed assets

	£
Cost
Additions	10,000
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	10,000
Amortisation
Charge for the year	2,044
On disposals	-
At 31 August 2014	2,044
Net book values
At 31 August 2014	7,956

3Tangible fixed assets

	£
Cost
Additions	1,416
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	1,416
Depreciation
Charge for the year	362
On disposals	-
At 31 August 2014	362
Net book values
At 31 August 2014	1,054