Blue Atlantic Fish Bar Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08191693 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

BLUE ATLANTIC FISH BAR LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L J Mann

K Y H Mann

REGISTERED OFFICE:

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

REGISTERED NUMBER:

08191693 (England and Wales)

ACCOUNTANTS:

DNG Dove Naish

Chartered Accountants

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

FIXED ASSETS

Tangible assets

2

97,853

117,338

CURRENT ASSETS

Stocks

1,631

1,550

Debtors

8,315

7,539

Cash at bank and in hand

5,617

4,663

15,563

13,752

CREDITORS

Amounts falling due within one year

119,385

129,227

NET CURRENT LIABILITIES

(103,822

)

(115,475

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,969

)

1,863

CREDITORS

Amounts falling due after more than one
year

100,000

NET LIABILITIES

(105,969

)

(98,137

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(105,971

)

(98,139

)

SHAREHOLDERS' FUNDS

(105,969

)

(98,137

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 26 May 2017 and were signed on its
behalf by:

L J Mann - Director

K Y H Mann - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company is supported by capital contributed by the directors which is seen as a long term

investment. The directors therefore consider that the company's accounts should be drawn up on a

going concern basis, notwithstanding the deficit position shown on the balance sheet.

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).

Turnover

Turnover represents net invoiced sales of goods, 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 life of the lease

Improvements to property

-

over the life of the lease

Plant and machinery

-

20% on cost

Computer equipment

-

33% 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.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the

treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or

accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing commitments

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

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

170,808

Additions

1,282

At 31 August 2016

172,090

DEPRECIATION

At 1 September 2015

53,470

Charge for year

20,767

At 31 August 2016

74,237

NET BOOK VALUE

At 31 August 2016

97,853

At 31 August 2015

117,338

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

4.	TRANSACTIONS WITH DIRECTORS

Other creditors due within one year include £116,285 due to Mr and Mrs Mann.

Other creditors due after more than one year include £100,000 due to Mr and Mrs Mann.

The loans are unsecured, interest free and there are no set terms of repayment.