Abbreviated Company Accounts - COLLINSONS RESTAURANT LIMITED

Abbreviated Company Accounts - COLLINSONS RESTAURANT LIMITED


Registered Number SC337922

COLLINSONS RESTAURANT LIMITED

Abbreviated Accounts

31 March 2016

COLLINSONS RESTAURANT LIMITED Registered Number SC337922

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 92,001 95,974
92,001 95,974
Current assets
Stocks 4,125 3,877
Debtors 898 877
Cash at bank and in hand 44,280 24,656
49,303 29,410
Creditors: amounts falling due within one year (108,518) (105,775)
Net current assets (liabilities) (59,215) (76,365)
Total assets less current liabilities 32,786 19,609
Creditors: amounts falling due after more than one year (4,702) (10,441)
Total net assets (liabilities) 28,084 9,168
Capital and reserves
Called up share capital 1 1
Profit and loss account 28,083 9,167
Shareholders' funds 28,084 9,168
  • For the year ending 31 March 2016 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 15 December 2016

And signed on their behalf by:
Stephen Collinson, Director

COLLINSONS RESTAURANT LIMITED Registered Number SC337922

Notes to the Abbreviated Accounts for the period ended 31 March 2016

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 January 2015.

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 and Fittings - 25% Reducing Balance
Equipment - 25% Reducing Balance

Valuation information and policy
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
At 31 March 2016 the company had aggregate annual commitments under non-cancellable operating leases as set out below:

Operating leases which expire:
After more than 5 years - 2016 £18,000 - 2015 £18,000

2Tangible fixed assets
£
Cost
At 1 April 2015 146,608
Additions 13,512
Disposals -
Revaluations -
Transfers -
At 31 March 2016 160,120
Depreciation
At 1 April 2015 50,634
Charge for the year 17,485
On disposals -
At 31 March 2016 68,119
Net book values
At 31 March 2016 92,001
At 31 March 2015 95,974

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 2015: £ 55,921
Advances or credits made: -
Advances or credits repaid: £ 15,715
Balance at 31 March 2016: £ 40,206

Dividends of £27,850 (2015 - £27,000) were paid to the director during the current year.