Kami Quartermile Bubble Tea Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC623262 (Scotland)

Kami Quartermile Bubble Tea Limited

Unaudited Financial Statements

for the Period 5 March 2019 to 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms Y Cheng

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

REGISTERED NUMBER:

SC623262 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

Edinburgh West End Office

142-144 Princes Street

Edinburgh

EH2 4EQ

CURRENT ASSETS

Stocks

1,800

Cash at bank and in hand

11,019

12,819

CREDITORS

Amounts falling due within one year

4

19,392

NET CURRENT LIABILITIES

(6,573

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,573

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(6,574

)

(6,573

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and authorised for issue on 14 July 2020 and were signed by:

Ms Y Cheng - Director

1.	STATUTORY INFORMATION

Kami Quartermile Bubble Tea 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 gross invoiced sales of goods, is recognised at the point when a meal is

served or delivered to the customer.

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 period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

17,794

Taxation and social security

158

Other creditors

1,440

19,392

5.	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 directors going concern assessment includes the expected impact of COVID-19 to the company

for a period of at least 12 months from the date of signing of these financial statements