O'Shea's Fish And Chip Cafe Limited - Accounts

O'Shea's Fish And Chip Cafe Limited - Accounts

O'SHEA'S FISH AND CHIP CAFE LIMITED - Company Information

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Registered Number: 08523186


 

 

 

O'SHEA'S FISH AND CHIP CAFE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

O'Shea's Fish And Chip Cafe Limited
Contents Page
For the year ended 31 May 2021
Report to the directors on the preparation of the unaudited statutory accounts of O'Shea's Fish And Chip Cafe Limited for the year ended 31 May 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of O'Shea's Fish And Chip Cafe Limited for the year ended 31 May 2021 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of O'Shea's Fish And Chip Cafe Limited, as a body, in accordance with the terms of our engagement letter dated 13 September 2021 Our work has been undertaken solely to prepare for your approval the accounts of O'Shea's Fish And Chip Cafe Limited and state those matters that we have agreed to state to the Board of Directors of O'Shea's Fish And Chip Cafe Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than O'Shea's Fish And Chip Cafe Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that O'Shea's Fish And Chip Cafe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of O'Shea's Fish And Chip Cafe Limited. You consider that O'Shea's Fish And Chip Cafe Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of O'Shea's Fish And Chip Cafe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 May 2021



....................................................
Whitfield Jones
Avon House
19 Stanwell Road
Penarth
CF64 2EZ
13 September 2021
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 40,948    50,499 
40,948    50,499 
Current assets      
Stocks 4,567    4,567 
Debtors 60,786    0 
Cash at bank and in hand 256,178    140,397 
321,531    144,964 
Creditors: amount falling due within one year (97,993)   (45,236)
Net current assets 223,538    99,728 
 
Total assets less current liabilities 264,486    150,227 
Creditors: amount falling due after more than one year 0    (43,213)
Accruals and deferred income (49,500)   0 
Net assets 214,986    107,014 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 214,886    106,914 
Shareholders funds 214,986    107,014 
 


For the year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 September 2021 and were signed by:


--------------------------------
Mr C O'Shea
Director
2
General Information
O'Shea's Fish And Chip Cafe Limited is a private company, limited by shares, registered in , registration number 08523186, registration address 51 Porth-Y-Castell, Barry, CF62 6QD

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


Plant and Machinery.    -     15% Reducing Balance
Motor Vehicles                -     25% Straight Line
Computer Equipment     -     25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 11 (2020 : 11).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 June 2020 10,000    10,000 
Additions -    - 
Disposals -    - 
At 31 May 2021 10,000    10,000 
Amortisation
At 01 June 2020 10,000    10,000 
Charge for year -    - 
On disposals -    - 
At 31 May 2021 10,000    10,000 
Net book values
At 31 May 2021 -    - 
At 31 May 2020 -    - 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2020 47,763    60,325    2,714    110,802 
Additions -    4,163    2,031    6,194 
Disposals -    -    -    - 
At 31 May 2021 47,763    64,488    4,745    116,996 
Depreciation
At 01 June 2020 24,328    33,916    2,059    60,303 
Charge for year 10,565    4,501    679    15,745 
On disposals -    -    -    - 
At 31 May 2021 34,893    38,417    2,738    76,048 
Net book values
Closing balance as at 31 May 2021 12,870    26,071    2,007    40,948 
Opening balance as at 01 June 2020 23,435    26,409    655    50,499 


3