Rad Burger Ltd
Rad Burger Ltd
Registered number: 12270100
Unaudited Financial Statements
For The Year Ended
31 October 2021
Kent Coast Accounts Ltd
39 Brooke Avenue
Margate
Kent
CT9 5NG
Rad Burger Ltd
Unaudited Financial Statements
For The Year Ended
31 October 2021
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Rad Burger Ltd
Balance Sheet
As at
31 October 2021
Balance Sheet
Registered number:
12270100
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2021 | 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Stocks | 7 |
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| Debtors | 8 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 15,035 | 2,988 | |||
Rad Burger Ltd
Balance Sheet (continued)
As at
31 October 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Rad Burger Ltd
Notes to the Financial Statements
For The Year Ended
31 October 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover comprises the invoiced value of food and drink supplied by the company, less value added tax calculated at a flat rate on those gross sales, which are recognised when the services are provided and less trade discounts.
Sale of food and drink
Turnover from the sale of food and drink is recognised when food has been prepared and charged for to the customer.
Event Services
Turnover from event sale income is recongnised at the completion of the event.
Deposits held on account are matched to the period when the event has completed.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Computer Equipment |
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Assets considered to lose their value fully at purchase and depreciated fully in the first year of acquisition.
1.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Rad Burger Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
1.8.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2020: 6)
6.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| Depreciation | |||
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| Net Book Value | |||
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7.
Stocks
| 2021 | 2020 | ||
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| £ | £ | ||
| Stock - materials |
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8.
Debtors
| 2021 | 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Rad Burger Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
9.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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10.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Bank loans |
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Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
| 2021 | 2020 | ||
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| £ | £ | ||
| Bank loans and overdrafts | - | 7,033 |
12.
Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of 2021 - £130 (2020 -£20) were due to the fund. They are included in Other Creditors.
13.
Controlling Party
The company's controlling party is
Mr Benjamin Sames Kelly
by virtue of his ownership of 90% of the issued share capital in the company.
14.
General Information
Rad Burger Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
12270100
. The registered office is 79 Highland Road, Chartham, Canterbury, Kent, CT4 7QQ.