Liquidchefs Investments Limited Filleted accounts for Companies House (small and micro)

LIQUIDCHEFS INVESTMENTS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06607259

Liquidchefs Investments Limited

Filleted Unaudited Financial Statements

31 May 2020

Liquidchefs Investments Limited

Financial Statements

Year ended 31 May 2020

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Liquidchefs Investments Limited

Officers and Professional Advisers

The board of directors	A M Solomon
	B E Shaw

Registered office	Unit 7 Industrial Estate
	Mill Hill Industrial Estate
	Flower Lane
	London
	NW7 2HU

Accountants	Complete Accounting Solutions
	Chartered Certified Accountants
	727-729 High Road
	London
	N12 0BP

Liquidchefs Investments Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Liquidchefs Investments Limited

Year ended 31 May 2020

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2020, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Complete Accounting Solutions Chartered Certified Accountants

727-729 High Road London N12 0BP

Liquidchefs Investments Limited

Statement of Financial Position

31 May 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		66,721	53,260

Current assets

Stocks		119,063	116,754
Debtors	6	99,508	482,198
Cash at bank and in hand		134,884	145,668
		---------	---------
		353,455	744,620

Creditors: amounts falling due within one year	7	257,585		601,104
		---------		---------
Net current assets			95,870	143,516
			---------	---------
Total assets less current liabilities			162,591	196,776
			---------	---------
Net assets			162,591	196,776
			---------	---------

Capital and reserves

Called up share capital	100,000	100,000
Profit and loss account	62,591	96,776
	---------	---------
Shareholders funds	162,591	196,776
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Liquidchefs Investments Limited

Statement of Financial Position (continued)

31 May 2020

These financial statements were approved by the board of directors and authorised for issue on 24 November 2020 , and are signed on behalf of the board by:

A M Solomon

Director

Company registration number: 06607259

Liquidchefs Investments Limited

Notes to the Financial Statements

Year ended 31 May 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Industrial Estate, Mill Hill Industrial Estate, Flower Lane, London, NW7 2HU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Transportable bar	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 48 (2019: 44 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 June 2019	40,384	31,661	53,075	33,260	158,380
Additions	13,260	11,520	–	6,716	31,496
	--------	--------	--------	--------	---------
At 31 May 2020	53,644	43,181	53,075	39,976	189,876
	--------	--------	--------	--------	---------
Depreciation
At 1 June 2019	36,608	11,569	36,624	20,319	105,120
Charge for the year	2,878	6,415	4,113	4,629	18,035
	--------	--------	--------	--------	---------
At 31 May 2020	39,486	17,984	40,737	24,948	123,155
	--------	--------	--------	--------	---------
Carrying amount
At 31 May 2020	14,158	25,197	12,338	15,028	66,721
	--------	--------	--------	--------	---------
At 31 May 2019	3,776	20,092	16,451	12,941	53,260
	--------	--------	--------	--------	---------

6. Debtors

	2020	2019
	£	£
Trade debtors	18,150	362,948
Other debtors	81,358	119,250
	--------	---------
	99,508	482,198
	--------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	27,979	234,247
Corporation tax	13,634	19,439
Social security and other taxes	64,160	102,600
Other creditors	151,812	244,818
	---------	---------
	257,585	601,104
	---------	---------