Arg Maxela UK Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07863841 (England and Wales)

ARG MAXELA UK LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R Costa

REGISTERED OFFICE:

84 Old Brompton Road

London

SW7 3LQ

REGISTERED NUMBER:

07863841 (England and Wales)

FIXED ASSETS

Tangible assets

2

363,664

322,307

CURRENT ASSETS

Stocks

24,061

19,905

Debtors

3

456,829

110,622

Cash at bank and in hand

174,827

293,331

655,717

423,858

CREDITORS

Amounts falling due within one year

(484,412

)

(440,983

)

NET CURRENT ASSETS/(LIABILITIES)

171,305

(17,125

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

534,969

305,182

PROVISIONS FOR LIABILITIES

(6,414

)

-

NET ASSETS

528,555

305,182

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

528,455

305,082

SHAREHOLDERS' FUNDS

528,555

305,182

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 director acknowledges his 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 director on 30 September 2016 and were signed by:

R Costa - 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 April 2015).

Basis of preparing the financial statements

The accounts are prepared on a going concern basis. The use of the going concern basis of

accounting is appropriate because there are no material uncertainties related to events or conditions

that may cast significant doubt about the ability of the company to continue as a going concern.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net sales of food and drink, 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.

Short leasehold

-

Over the lease term or to break clause

Plant and machinery

-

Straight line over 5 years

Fixtures and fittings

-

Straight line over 5 years

Website costs

-

Straight line over 3 years

Stocks

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

and slow moving items.

Taxation

The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using the tax rates and laws that have been

enacted or substantially enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Leasing commitments

Rentals paid under operating leases are charged to the statement of comprehensive income on a

straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a

straight line basis over the period until the date the rent is expected to be adjusted to the prevailing

market rate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

388,976

Additions

71,418

At 31 December 2015

460,394

DEPRECIATION

At 1 January 2015

66,669

Charge for year

30,061

At 31 December 2015

96,730

NET BOOK VALUE

At 31 December 2015

363,664

At 31 December 2014

322,307

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 61,200 (2014 - £ 61,200 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

5.	ULTIMATE PARENT COMPANY

Roberto Costa Restaurants Limited is regarded by the director as being the company's ultimate parent

company.

At the year end there was no ultimate parent undertaking. Roberto Costa Restaurants Limited

became the parent undertaking on 1 January 2016 as part of a group reorganisation.