Swiftstorm Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05769942 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 September 2014

for

Swiftstorm Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C Pulze

Mrs L Pulze

SECRETARY:

Mrs L Pulze

REGISTERED OFFICE:

8/10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

05769942 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

2

195,792

209,537

CURRENT ASSETS

Stocks

9,072

8,833

Debtors

62,084

61,152

Cash at bank and in hand

13,852

896

85,008

70,881

CREDITORS

Amounts falling due within one year

3

118,274

160,651

NET CURRENT LIABILITIES

(33,266

)

(89,770

)

TOTAL ASSETS LESS CURRENT LIABILITIES

162,526

119,767

CREDITORS

Amounts falling due after more than one year

329,481

329,481

NET LIABILITIES

(166,955

)

(209,714

)

CAPITAL AND RESERVES

Called up share capital

4

5,000

5,000

Profit and loss account

(171,955

)

(214,714

)

SHAREHOLDERS' FUNDS

(166,955

)

(209,714

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 June 2015 and were signed on its behalf by:

C Pulze - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover represents the sale of food and drinks within the restaurant operated by the company.

Revenues are recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

in accordance with the property

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Stocks

Stocks are mainly comprised of wine and other beverages used in the operation of the restaurant.

Stock also includes food which is valued in the same way.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

The basis of valuation used is the actual cost paid to the supplier.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Going concern

The financial statements have been drawn up on a going concern basis as support for the company

will continue from its parent, Cusine Collection Limited.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

447,286

DEPRECIATION

At 1 October 2013

237,749

Charge for year

13,745

At 30 September 2014

251,494

NET BOOK VALUE

At 30 September 2014

195,792

At 30 September 2013

209,537

3.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 52,883 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

5,000

Ordinary

1

5,000

5,000

5.	ULTIMATE PARENT COMPANY

6.	RELATED PARTY DISCLOSURES