Bayee (Village) Catering Ltd - Accounts to registrar (filleted) - small 18.2
Bayee (Village) Catering Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2020 |
| for |
| Bayee (Village) Catering Ltd |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Bayee (Village) Catering Ltd |
| Company Information |
| for the Year Ended 31 August 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified & Management Accountants |
| 29-30 Frith Street |
| London |
| W1D 5LG |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Balance Sheet |
| 31 August 2020 |
| 31.8.20 | 31.8.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Balance Sheet - continued |
| 31 August 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2020 |
| 1. | STATUTORY INFORMATION |
| Bayee (Village) Catering Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
| Freehold Properties | - acquired in August 2000, no depreciation |
| required under SSAP 19 |
| Leasehold & Improvement | - Over its estimated useful life |
| Fixture, Fitting & Equipment | - 33% on reducing balance |
| Computer Equipment | - 33% on reducing balance |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2019 |
| and 31 August 2020 |
| AMORTISATION |
| At 1 September 2019 |
| and 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Short | and | Computer |
| property | leasehold | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2019 |
| and 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| Bayee (Village) Catering Ltd (Registered number: 01928783) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2020 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Freehold Property owned by the company, ie 122 Upper Richmond Road, London, SW15 2SP was estimated current market value of approximately £800,000 by the directors with the advice of local estate agent. |
| 6. | STOCKS |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Bank loans |
| Other creditors |
| 10. | OTHER FINANCIAL COMMITMENTS |
| The annual financial commitment between one and five years is £33,300 on freehold premises No.122 Upper Richmond Road SW15 2SD. |
| 11. | RELATED PARTY DISCLOSURES |
| For the year ended 31st August 2014, leasehold property located at No 128 Upper Richmond Road, Putney, London SW15 2SP was held in the name of the director Mr. M C M Yu.ceased trading as Far East Take away on 30th August 2013. It was changed into Abie Nail Beauty Salon on 8th March 2014 operating under a partnership. |
| The lease of No 24 High Street, Wimbledon Village, London SW19 5DX operating as Bayee Village Restaurant was held in joint name of Mr. M C M Yu and Mrs. J Yu, except shop No128 stated earlier was held in Mr. M C M Yu's name only. |
| However no rent was paid direct by the directors, but was paid by company or partnership to the respective landlords. |