SIMPLY_BLUES_RESTAURANTS_ - Accounts

SIMPLY BLUES RESTAURANTS LIMITED - Company Information

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Company Registration No. 3292221 (England and Wales)

SIMPLY BLUES RESTAURANTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

SIMPLY BLUES RESTAURANTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

SIMPLY BLUES RESTAURANTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

439,359

449,515

Current assets

Stocks

13,508

13,162

Debtors

7,857

34,977

Cash at bank and in hand

170,509

140,730

191,874

188,869

Creditors: amounts falling due within one year

(163,485)

(155,237)

Net current assets

28,389

33,632

Total assets less current liabilities

467,748

483,147

Provisions for liabilities

(5,694)

(6,543)

462,054

476,604

Capital and reserves

Called up share capital

1,940

Share premium account

1,000

Other reserves

Profit and loss account

459,054

473,604

Shareholders' funds

462,054

476,604

SIMPLY BLUES RESTAURANTS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2014

- 2 -

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 November 2014

J M Coysten

Director

Company Registration No. 3292221

SIMPLY BLUES RESTAURANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

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 April 2008).

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised when the service was provided to the customer and over the period the tenant occupied the property.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings Freehold

No depreciation is charged on freehold land. Buildings are depreciated straight line over 20 years.

Land and buildings Leasehold

Straight line over the length of the lease of 12 years.

Fixtures, fittings & equipment

15% - 40% reducing balance and 20% straight line

Motor vehicles

25% reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Deferred taxation

Deferred tax 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.

SIMPLY BLUES RESTAURANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

250,000

597,268

847,268

Additions

2,809

Disposals

(2,734)

At 31 March 2014

250,000

597,343

847,343

Depreciation

At 1 April 2013

250,000

147,753

397,753

On disposals

(1,998)

Charge for the year

12,229

At 31 March 2014

250,000

157,984

407,984

Net book value

At 31 March 2014

439,359

At 31 March 2013

449,515

Share capital

2014

2013

Allotted, called up and fully paid

940 Ordinary shares of £1 each

940

1,000 Ordinary B shares of £1 each

1,000

1,940