Abbreviated Company Accounts - THE SAND BAR AND SEAFOOD COMPANY LIMITED

THE SAND BAR AND SEAFOOD COMPANY LIMITED - Company Information

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Registered Number 02560751

THE SAND BAR AND SEAFOOD COMPANY LIMITED

Abbreviated Accounts

31 January 2015

THE SAND BAR AND SEAFOOD COMPANY LIMITED Registered Number 02560751

Abbreviated Balance Sheet as at 31 January 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	283,984	288,021
		283,984	288,021
Current assets
Stocks		12,000	8,000
Debtors		5,841	8,255
Cash at bank and in hand		8,953	4,128
		26,794	20,383
Creditors: amounts falling due within one year		(170,728)	(148,898)
Net current assets (liabilities)		(143,934)	(128,515)
Total assets less current liabilities		140,050	159,506
Creditors: amounts falling due after more than one year		(115,145)	(157,055)
Total net assets (liabilities)		24,905	2,451
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		24,805	2,351
Shareholders' funds		24,905	2,451

For the year ending 31 January 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 October 2015

And signed on their behalf by:
L Waite Sterry, Director

THE SAND BAR AND SEAFOOD COMPANY LIMITED Registered Number 02560751

Notes to the Abbreviated Accounts for the period ended 31 January 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

Turnover policy
Turnover represents amounts invoiced during the year excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment - 5% straight line basis
Motor vehicles - 25% reducing balance basis
Leasehold improvements - This has not been depreciated in current or prior year in accordance with the Directors' view that the asset is appreciating in value. This policy will be reviewed on an annual basis.

2Tangible fixed assets

	£
Cost
At 1 February 2014	525,769
Additions	3,415
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2015	529,184
Depreciation
At 1 February 2014	237,748
Charge for the year	7,452
On disposals	-
At 31 January 2015	245,200
Net book values
At 31 January 2015	283,984
At 31 January 2014	288,021

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	L Write Sterry
Description of the transaction:	Creditors
Balance at 1 February 2014:	£ 104,275
Advances or credits made:	-
Advances or credits repaid:	£ 13,872
Balance at 31 January 2015:	£ 90,403

Name of director receiving advance or credit:	A Donnelly
Description of the transaction:	Creditors
Balance at 1 February 2014:	£ 50,435
Advances or credits made:	£ 23,261
Advances or credits repaid:	-
Balance at 31 January 2015:	£ 73,696

The freehold of the property is owned personally by the directors and the company pays them a rent of £15,000 per annum (2014: £14,500).