Efes Brick Lane Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09396423 (England and Wales)

Efes Brick Lane Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr K Akkus

Mr I Uzun

Mr S Komur

SECRETARY:

REGISTERED OFFICE:

1 Whitechapel Road

London

E1 6TY

REGISTERED NUMBER:

09396423 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Statement of Financial Position. Readers are cautioned that the

Abridged Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Efes Brick Lane Limited for the year ended 31 March 2017 which

comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position,

and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Efes Brick Lane Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Efes Brick Lane Limited and state those matters that we have agreed to state to the Board of Directors of Efes Brick Lane Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Efes Brick Lane Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Efes Brick Lane Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Efes Brick Lane Limited. You consider that Efes Brick Lane Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Efes Brick Lane Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

10 August 2017

FIXED ASSETS

Property, plant and equipment

4

97,237

107,067

CURRENT ASSETS

Inventories

5

21,388

16,983

Debtors

6

351,652

155,954

Cash at bank and in hand

147,309

108,720

520,349

281,657

CREDITORS

Amounts falling due within one year

7

303,863

238,248

NET CURRENT ASSETS

216,486

43,409

TOTAL ASSETS LESS CURRENT LIABILITIES

313,723

150,476

PROVISIONS FOR LIABILITIES

8

19,447

20,075

NET ASSETS

294,276

130,401

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

294,176

130,301

SHAREHOLDERS' FUNDS

294,276

130,401

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 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 August 2017 and were signed on its behalf by:

Mr I Uzun - Director

1.	STATUTORY INFORMATION

Efes Brick Lane 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.

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

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

rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when customers

take delivery of the goods.

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

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost of stocks are valued using the first in first out stock valuation method. Net realisable value is the

estimated selling price less cost to sell.

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no

material uncertainties that may cast significant doubt about the company's ability to continue as a

going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2016 - 14 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2016

64,892

68,943

133,835

Additions

13,679

800

14,479

At 31 March 2017

78,571

69,743

148,314

DEPRECIATION

At 1 April 2016

12,979

13,789

26,768

Charge for year

13,118

11,191

24,309

At 31 March 2017

26,097

24,980

51,077

NET BOOK VALUE

At 31 March 2017

52,474

44,763

97,237

At 31 March 2016

51,913

55,154

107,067

5.	INVENTORIES

2017

2016

£

£

Stocks

21,388

16,983

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,926

4,070

Efes 3 Ltd

20,000

20,000

Kesia Ltd

45,313

-

Leasehold deposit

262,457

119,747

Prepayments

16,956

12,137

351,652

155,954

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

40,313

14,435

I S K Caterers Ltd

112,042

112,042

Tax

43,450

10,827

Social security and other taxes

5,120

25,700

Net salaries and wages account

2,100

-

VAT

42,091

37,972

Directors' current accounts

50,772

29,455

Accrued expenses

7,975

7,817

303,863

238,248

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

19,447

20,075

Deferred

tax

£

Balance at 1 April 2016

20,075

Credit to Abridged Income Statement during year

(628

)

Balance at 31 March 2017

19,447

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2016

130,301

Profit for the year

163,875

At 31 March 2017

294,176

11.	RELATED PARTY DISCLOSURES

Mr S Komur

A director and 50% shareholder of the company.

Company owes £25,386 (2016 - £14,727) at the year end.

Mr I Uzun

A director and 25% shareholder of the company.

Company owes £12,693 (2016 - £7,364) at the year end.

Mr K Akkus

A director and 25% shareholder of the comapny.

Company owes £12,693 (2016 - £7,364) at the year end.

ISK Caterers Ltd

Mr K Akkus and Mr I Uzun are directors of the both companies.

Efes Brick Lane Ltd owes £112,042 (2016 - £112,042) at the year end.

Efes 3 Ltd

Mr I Uzun is the director and shareholder of the company.

Efes 3 Ltd owes £20,000 at the year end.