SHEPHERDS_RESTAURANTS_LIM - Accounts

SHEPHERDS RESTAURANTS LIMITED - Company Information

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Company Registration No. 2806539 (England and Wales)

SHEPHERDS RESTAURANTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

SHEPHERDS RESTAURANTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SHEPHERDS RESTAURANTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

2,074,152

2,206,456

Current assets

Debtors

8,717

293,282

Cash at bank and in hand

238,761

247,478

293,282

Creditors: amounts falling due within one year

(1,096,265)

(1,095,091)

Net current liabilities

(848,787)

(801,809)

Total assets less current liabilities

1,225,365

1,404,647

Creditors: amounts falling due after more than one year

(1,640,237)

(1,555,153)

(414,872)

(150,506)

Capital and reserves

Called up share capital

Profit and loss account

(414,874)

(150,508)

Shareholder's funds

(414,872)

(150,506)

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 7 December 2016

Mr D Pow

Director

Company Registration No. 2806539

SHEPHERDS RESTAURANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The unaudited financial statements have been prepared on a going concern basis notwithstanding the fact that the company has deficiency on shareholders fund at the period end. The director considers this basis to be appropriate as the company has ongoing financial support from it's main shareholder of the company to fund working capital requirements.

1.2

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 (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold improvements

Straight line over 12 years

Computer equipment

25% on cost

Fixtures, fittings & equipment

20% on reducing balance

No amortisation has been provided on long leasehold property due to its long useful economic life and potential high residual value.

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

2,240,229

Depreciation

At 1 April 2015

33,773

Charge for the year

132,304

At 31 March 2016

166,077

Net book value

At 31 March 2016

2,074,152

At 31 March 2015

2,206,456

SHEPHERDS RESTAURANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each