Mr. Bulgogi Ltd - Filleted accounts

Mr. Bulgogi Ltd - Filleted accounts

MR. BULGOGI LTD - Company Information

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Mr. Bulgogi Ltd
Registered number: 07777559
Balance Sheet
as at 30 September 2016
Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 21,000 28,000
Tangible assets 3 1,605 -
22,605 28,000
Current assets
Stocks 3,210 5,120
Debtors 4 16,000 16,000
Cash at bank and in hand 6,841 43,905
26,051 65,025
Creditors: amounts falling due within one year 5 (50,357) (90,582)
Net current liabilities (24,306) (25,557)
Net (liabilities)/assets (1,701) 2,443
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,801) 2,343
Shareholder's funds (1,701) 2,443
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Choi
Director
Approved by the board on 2 June 2017
Mr. Bulgogi Ltd
Notes to the Accounts
for the year ended 30 September 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2015 35,000
At 30 September 2016 35,000
Amortisation
At 1 October 2015 7,000
Provided during the year 7,000
At 30 September 2016 14,000
Net book value
At 30 September 2016 21,000
At 30 September 2015 28,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 2,140
At 30 September 2016 2,140
Depreciation
Charge for the year 535
At 30 September 2016 535
Net book value
At 30 September 2016 1,605
4 Debtors 2016 2015
£ £
Other debtors 16,000 16,000
5 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors 1,157 1,549
Other taxes and social security costs 165 63
Other creditors 49,035 88,970
50,357 90,582
6 Other information
Mr. Bulgogi Ltd is a private company limited by shares and incorporated in England. Its registered office is:
161 Malden Road
New Malden
Surrey
KT3 6AA
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