Geales Restaurant Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03631100 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Geales Restaurant Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M N J Fuller

A J Taylor

SECRETARY:

S E Atalay

REGISTERED OFFICE:

Bridle House

36 Bridle Lane

London

W1F 9BZ

REGISTERED NUMBER:

03631100 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

2,810

Tangible assets

3

31,784

38,461

Investments

4

100

100

31,884

41,371

CURRENT ASSETS

Stocks

15,127

17,606

Debtors

1,173,112

309,429

Cash at bank and in hand

300

1,583

1,188,539

328,618

CREDITORS

Amounts falling due within one year

1,510,399

588,986

NET CURRENT LIABILITIES

(321,860

)

(260,368

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(289,976

)

(218,997

)

CAPITAL AND RESERVES

Called up share capital

5

200

200

Profit and loss account

(290,176

)

(219,197

)

SHAREHOLDERS' FUNDS

(289,976

)

(218,997

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 27 September 2016 and were signed on its behalf by:

M N J Fuller - 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 January

2015).

Changes in accounting policies

Intangible Fixed Assets of trade marks had previously been carried with an indefinite life and

not amortised. Due to the changes under FRSSE (2015) intangible assets are presumed to

have finite useful economic lives of five years where management cannot reliably estimate

the useful life. Due to this change in the FRSSE (2015) the assets have been fully

amortised in the year ending 31 December 2015 to compile with FRSSE (2015).

Turnover

Turnover its derived from ordinary activities and represents the net sales of food, beverage,

hospitality and restaurant services provided, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold 10% on cost

Long leasehold 20% on cost

Plant & machinery 20% on cost

Computer equipment 20% on cost

Fixture & fittings 10% on cost

Stocks

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

for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Going concern

The company's liabilities exceed its assets by £289,976 [2014: £218,997]. The company

depends on the continuing financial support of its parent and associated companies and a

director who has confirmed his ongoing financial support of the company and his ability to do

so for the foreseeable future. For this reason the financial statements have been prepared

on a going concern basis.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

2,810

AMORTISATION

Amortisation for year

2,810

At 31 December 2015

2,810

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

2,810

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

413,184

Additions

1,312

At 31 December 2015

414,496

DEPRECIATION

At 1 January 2015

374,723

Charge for year

7,989

At 31 December 2015

382,712

NET BOOK VALUE

At 31 December 2015

31,784

At 31 December 2014

38,461

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

100

NET BOOK VALUE

At 31 December 2015

100

At 31 December 2014

100

The company's investments at the Balance Sheet date in the share capital of companies

include the following:

Geales Chelsea Ltd

Nature of business: Operation of a restaurant

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

£

Aggregate capital and reserves

(776,084

)

(655,012

)

Loss for the year

(121,072

)

(153,009

)

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

200

Ordinary

£1

200

200

6.	ULTIMATE PARENT COMPANY

Concept Venues Ltd is regarded by the directors as being the company's ultimate parent

company.