The Chelsea Food and Wine Company - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05729781 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2016

for

The Chelsea Food and Wine Company

Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S H Shah

REGISTERED OFFICE:

276 Preston Road

Harrow

Middlesex

HA3 0QA

REGISTERED NUMBER:

05729781 (England and Wales)

ACCOUNTANTS:

RNS Business Solutions Limited

Chartered Accountants

276 Preston Road

Harrow

Middlesex

HA3 0QA

FIXED ASSETS

Intangible assets

3

246,361

277,158

Tangible assets

4

80,127

91,706

326,488

368,864

CURRENT ASSETS

Stocks

5

118,430

115,910

Debtors

6

302,856

250,712

Cash at bank and in hand

223,032

324,676

644,318

691,298

CREDITORS

Amounts falling due within one year

7

(303,553

)

(323,654

)

NET CURRENT ASSETS

340,765

367,644

TOTAL ASSETS LESS CURRENT LIABILITIES

667,253

736,508

CREDITORS

Amounts falling due after more than one year

8

-

(188,679

)

PROVISIONS FOR LIABILITIES

(9,244

)

(12,013

)

NET ASSETS

658,009

535,816

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Other reserves

-

11,321

Retained earnings

657,009

523,495

SHAREHOLDERS' FUNDS

658,009

535,816

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 29 September 2017 and were signed by:

Mr S H Shah - Director

1.	STATUTORY INFORMATION

The Chelsea Food and Wine Company 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.

Turnover represents net sales of goods, excluding value added tax.

Goodwill

Externally purchased goodwill is stated at cost less accumulated amortisation and accumulated impairment

losses. Goodwill is amortised over its estimated useful life of ten years on straight line basis from transition date

of new UK GAAP FRS 102 Section 1A

Tangible fixed assets

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

Fixtures and fittings

-

15% 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 recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2015

and 31 March 2016

424,995

AMORTISATION

At 1 April 2015

147,837

Amortisation for year

30,797

At 31 March 2016

178,634

NET BOOK VALUE

At 31 March 2016

246,361

At 31 March 2015

277,158

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 April 2015

32,399

104,781

137,180

Additions

5,608

-

5,608

At 31 March 2016

38,007

104,781

142,788

DEPRECIATION

At 1 April 2015

10,022

35,452

45,474

Charge for year

1,677

15,510

17,187

At 31 March 2016

11,699

50,962

62,661

NET BOOK VALUE

At 31 March 2016

26,308

53,819

80,127

At 31 March 2015

22,377

69,329

91,706

5.

STOCKS

31/3/16

31/3/15

£

£

Finished goods

118,430

115,910

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/16

31/3/15

£

£

Other debtors

140,475

102,193

VAT

13,550

709

Prepayments and accrued income

148,831

147,810

302,856

250,712

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/16

31/3/15

£

£

Trade creditors

141,363

181,602

Tax

71,407

46,880

Social security and other taxes

1,189

1,394

Other creditors

2,272

16

Directors' current accounts

58,235

80,930

Accrued expenses

29,087

12,832

303,553

323,654

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/16

31/3/15

£

£

Directors loan accounts

-

188,679

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/16

31/3/15

£

£

Within one year

133,333

175,000

Between one and five years

600,000

400,000

In more than five years

2,150,247

1,264,493

2,883,580

1,839,493

10.	RELATED PARTY DISCLOSURES

Mr S H Shah

Mr S H Shah is a director and shareholder of the company

31/03/2016

31/03/2015

£

£

Amount due to related party at the balance sheet date

58,235

280,930

The above loan is non interest bearing.

11.	FIRST YEAR ADOPTION

This the first year that the company has presented its results under FRS 102. The last financial statements under

old UK GAAP were for the year ended 31 March 2015. The date of transition to FRS 102 was 1 April 2015. Set

out below are the changes in accounting principles which reconcile profit for the financial year ended 31 March

2015 and total equity as at 1April 2014 and 31 March 2015 between UK GAAP as previously reported and

FRS102.