Willoughby (884) Limited - Accounts to registrar - small 17.2

WILLOUGHBY (884) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 OCTOBER 2015 TO 31 JANUARY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Constantinou

N D Hogan

REGISTERED OFFICE:

Number One Pride Park View

Victoria Way

Pride Park

Derby

Derbyshire

DE24 8AN

REGISTERED NUMBER:

09839102 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Tangible assets

4

1,035,485

CURRENT ASSETS

Stocks

19,346

Debtors

5

176,163

Cash at bank and in hand

620,764

816,273

CREDITORS

Amounts falling due within one year

6

522,452

NET CURRENT ASSETS

293,821

TOTAL ASSETS LESS CURRENT LIABILITIES

1,329,306

CREDITORS

Amounts falling due after more than one year

7

1,328,843

NET ASSETS

463

CAPITAL AND RESERVES

Called up share capital

11

100

Other reserves

12

150,989

Retained earnings

12

(150,626

)

SHAREHOLDERS' FUNDS

463

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2017 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 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 Board of Directors on 20 July 2017 and were signed on its behalf by:

A Constantinou - Director

1.	STATUTORY INFORMATION

Willoughby (884) Limited is a private company, limited by shares , registered in England and Wales. The

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

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

Over the term of the lease

Plant and machinery

-

Straight line over 12 years

Fixtures and fittings

-

12.5% on cost

Computer equipment

-

12.5% 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 tax 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

Property plant and equipment acquired under finance leases or hire purchase contracts are capitalised and

depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance

charges, are included in creditors.

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

the period of the lease.

Financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including loans from group

companies are measured initially at fair value, net of transactions cost and are measured subsequently at

amortised cost using the effective interest method, less any impairment.

Financial assets

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including

loans to group companies are measured initially at fair value, net of transactions cost and are subsequently

measured at amortised cost using the effective interest method, less any impairment.

Lease incentives

The benefits of lease incentives are recognised in the profit and loss account over the lease period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 124 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

Additions

812,480

178,181

25,150

42,890

1,058,701

At 31 January 2017

812,480

178,181

25,150

42,890

1,058,701

DEPRECIATION

Charge for period

12,958

6,166

1,700

2,392

23,216

At 31 January 2017

12,958

6,166

1,700

2,392

23,216

NET BOOK VALUE

At 31 January 2017

799,522

172,015

23,450

40,498

1,035,485

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

7,240

Rent deposit

44,250

Deferred tax asset

25,500

Prepayments and accrued income

99,173

176,163

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts (see note 8)

37,673

Trade creditors

229,319

Social security and other taxes

26,037

VAT

44,226

Other creditors

83,930

Net wages control account

61,951

Accrued expenses

39,316

522,452

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts (see note 8)

151,107

Amounts owed to group undertakings

679,463

Amounts owed to participating interests

498,273

1,328,843

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire

purchase

contracts

£

Net obligations repayable:

Within one year

37,673

Between one and five years

151,107

188,780

Non-cancellable

operating leases

£

In more than five years

3,457,400

The operating lease commitments relates to the property leased in Newcastle over the remaining term of the

agreement, approximately 24.5 years.

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Hire purchase contracts

188,780

Hire purchase finance agreements are secured on the assets purchased.

10.	DEFERRED TAX

£

Provided during period

(25,500

)

Balance at 31 January 2017

(25,500

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

12.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

Deficit for the period

(150,626

)

(150,626

)

Capital contribution

-

150,989

150,989

At 31 January 2017

(150,626

)

150,989

363

13.	PARENT COMPANY

The immediate parent company is Brit Restaurants Limited, a company incorporated in Great Britain and

registered at Number One Pride Park View, Victoria Way, Pride Park, Derby, DE24 8AN.