Wok & Spice St Monans Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC375211 (Scotland)

Wok & Spice St Monans Limited

Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms X Y Huang

SECRETARY:

Whitelaw Wells

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

REGISTERED NUMBER:

SC375211 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland

Anstruther Branch

28 Rodger Street

Anstruther

KY10 3DN

FIXED ASSETS

Tangible assets

4

804

-

CURRENT ASSETS

Stocks

600

600

Debtors

5

386

505

Cash at bank and in hand

7,195

21,639

8,181

22,744

CREDITORS

Amounts falling due within one year

6

8,999

22,494

NET CURRENT (LIABILITIES)/ASSETS

(818

)

250

TOTAL ASSETS LESS CURRENT LIABILITIES

(14

)

250

PROVISIONS FOR LIABILITIES

153

-

NET (LIABILITIES)/ASSETS

(167

)

250

CAPITAL AND RESERVES

Called up share capital

100

1

Retained earnings

(267

)

249

SHAREHOLDERS' FUNDS

(167

)

250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 4 July 2017 and were signed by:

Ms X Y Huang - Director

1.	STATUTORY INFORMATION

Wok & Spice St Monans Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition

Turnover, which represents net invoiced sales of goods is recognised at the point when a meal is

served or delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

600

Additions

1,072

At 31 March 2017

1,672

DEPRECIATION

At 1 April 2016

600

Charge for year

268

At 31 March 2017

868

NET BOOK VALUE

At 31 March 2017

804

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

386

505

The director's current account will be repaid 9 months after the year end.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

6,843

9,045

Other creditors

2,156

13,449

8,999

22,494

7.	GOING CONCERN

The financial statements have been prepared on the going concern principle, which assumes that

the company will continue to trade in the foreseeable future. In order to do so the company will

require the continued support of its director.

8.	FIRST YEAR ADOPTION

In preparing the accounts, the director has considered whether in applying the accounting policies

required by FRS 102 a restatement of comparative items was needed. No restatements were

required. Accordingly, no reconciliation of opening balances or net income / (expenditure) for the

period has been prepared.