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 2020

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

45,607

47,508

CURRENT ASSETS

Stocks

5

500

500

Debtors

6

80,815

57,208

Cash at bank

112,687

105,157

194,002

162,865

CREDITORS

Amounts falling due within one year

7

91,059

85,363

NET CURRENT ASSETS

102,943

77,502

TOTAL ASSETS LESS CURRENT LIABILITIES

148,550

125,010

CREDITORS

Amounts falling due after more than one year

8

(110,587

)

(81,681

)

PROVISIONS FOR LIABILITIES

10

(7,394

)

(6,560

)

NET ASSETS

30,569

36,769

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

30,469

36,669

SHAREHOLDERS' FUNDS

30,569

36,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 and authorised for issue on 22 February 2021 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

Government grants

Government grants are accounted for under the accruals model. Where the grant is classed as revenue, it is recognised in income on a systematic basis over the periods in which the company recognises the related costs.

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 14 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 June 2019

22,299

19,613

122,211

164,123

Additions

-

2,717

10,513

13,230

At 31 May 2020

22,299

22,330

132,724

177,353

DEPRECIATION

At 1 June 2019

13,379

14,019

89,217

116,615

Charge for year

2,230

2,078

10,823

15,131

At 31 May 2020

15,609

16,097

100,040

131,746

NET BOOK VALUE

At 31 May 2020

6,690

6,233

32,684

45,607

At 31 May 2019

8,920

5,594

32,994

47,508

5.

STOCKS

2020

2019

£

£

Stock

500

500

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Other debtors

15,360

-

Prepayments

-

3,515

15,360

3,515

Amounts falling due after more than one year:

Amounts owed by group undertakings

65,455

53,693

Aggregate amounts

80,815

57,208

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

4,822

6,518

Trade creditors

5,681

20,861

Corporation tax

5,772

5,649

Social security and other taxes

5,639

1,346

VAT

26,099

24,145

Directors' current accounts

1,207

1,217

Accrued expenses

41,839

25,627

91,059

85,363

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

2020

2019

£

£

Bank loan

46,421

6,518

Bank loans - 2-5 years

30,000

33,163

Bank loans more 5 yr

9,166

-

Other creditors

25,000

42,000

110,587

81,681

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr

9,166

-

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 following secured debts are included within creditors:

2020

2019

£

£

Bank loans

40,224

46,199

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

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

Accelerated capital allowances

7,394

6,560

Deferred

tax

£

Balance at 1 June 2019

6,560

Charge to Statement of Income and Retained Earnings during year

834

Balance at 31 May 2020

7,394

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

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 Listo Burrito Bars 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.