Thai Pavilion Limited - Filleted accounts

Thai Pavilion Limited - Filleted accounts

THAI PAVILION LIMITED - Company Information

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Registered number
04667441
Thai Pavilion Limited
Filleted Accounts
28 February 2017
Thai Pavilion Limited
Registered number: 04667441
Balance Sheet
as at 28 February 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 369 492
Current assets
Stocks 1,345 1,420
Debtors 3 1,523 1,523
Cash at bank and in hand 7,082 2,604
9,950 5,547
Creditors: amounts falling due within one year 4 (262,383) (190,295)
Net current liabilities (252,433) (184,748)
Net liabilities (252,064) (184,256)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (253,064) (185,256)
Shareholders' funds (252,064) (184,256)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mayuree Musigapong
Director
Approved by the board on 29 November 2017
Thai Pavilion Limited
Notes to the Accounts
for the year ended 28 February 2017
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2016 101,784
At 28 February 2017 101,784
Depreciation
At 1 March 2016 101,292
Charge for the year 123
At 28 February 2017 101,415
Net book value
At 28 February 2017 369
At 29 February 2016 492
3 Debtors 2017 2016
£ £
Other debtors 1,523 1,523
4 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts - 4,445
Trade creditors 8,773 10,413
Other taxes and social security costs 9,645 4,901
Other creditors 243,965 170,536
262,383 190,295
5 Other information
Thai Pavilion Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Glumangate
Chesterfield
Derbyshire
S40 1TX
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