Abbreviated Company Accounts - COLLINSONS RESTAURANT LIMITED

Abbreviated Company Accounts - COLLINSONS RESTAURANT LIMITED

COLLINSONS RESTAURANT LIMITED - Company Information

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Registered Number SC337922

COLLINSONS RESTAURANT LIMITED

Abbreviated Accounts

31 March 2015

COLLINSONS RESTAURANT LIMITED Registered Number SC337922

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 95,974 114,163
95,974 114,163
Current assets
Stocks 3,877 3,000
Debtors 877 934
Cash at bank and in hand 24,656 20,002
29,410 23,936
Creditors: amounts falling due within one year (105,775) (115,684)
Net current assets (liabilities) (76,365) (91,748)
Total assets less current liabilities 19,609 22,415
Creditors: amounts falling due after more than one year (10,441) (17,478)
Total net assets (liabilities) 9,168 4,937
Capital and reserves
Called up share capital 1 1
Profit and loss account 9,167 4,936
Shareholders' funds 9,168 4,937
  • For the year ending 31 March 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 7 December 2015

And signed on their behalf by:
Mr Stephen Collinson, Director

COLLINSONS RESTAURANT LIMITED Registered Number SC337922

Notes to the Abbreviated Accounts for the period ended 31 March 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.

Turnover policy
The turnover shown in the profit and loss account represents restaurant sales during the year, exclusive of VAT.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 10% straight line
Fixtures & Fittings - 25% reducing balance
Equipment - 25% reducing balance

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Operating Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Commitments under operating leases
At 31 March 2015 the company had aggregate annual commitments under non-cancellable operating leases as set out below:

Operating leases which expire after more than 5 years - 2015 £18,000 - 2014 £18,000

2Tangible fixed assets
£
Cost
At 1 April 2014 146,608
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 146,608
Depreciation
At 1 April 2014 32,445
Charge for the year 18,189
On disposals -
At 31 March 2015 50,634
Net book values
At 31 March 2015 95,974
At 31 March 2014 114,163

All fixed assets are initially recorded at cost.

3Transactions with directors

Name of director receiving advance or credit: Mr Stephen Collinson
Description of the transaction: Loan to company
Balance at 1 April 2014: £ 83,241
Advances or credits made: -
Advances or credits repaid: £ 27,320
Balance at 31 March 2015: £ 55,921

Dividends of £27,000 (2014 -£16,600) were paid to the director during the year.