All Round Trading Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07771190 (England and Wales)

All Round Trading Limited

Unaudited Financial Statements

for the Year Ended 31 May 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

RJ Taylor

REGISTERED OFFICE:

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

REGISTERED NUMBER:

07771190 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Tangible assets

4

58,032

68,642

CURRENT ASSETS

Stocks

5

1,000

1,000

Debtors

6

46,183

2,943

Cash at bank

36,657

109,108

83,840

113,051

CREDITORS

Amounts falling due within one year

7

74,916

106,304

NET CURRENT ASSETS

8,924

6,747

TOTAL ASSETS LESS CURRENT LIABILITIES

66,956

75,389

CREDITORS

Amounts falling due after more than one year

8

(30,000

)

(39,000

)

PROVISIONS FOR LIABILITIES

10

(8,484

)

(10,607

)

NET ASSETS

28,472

25,782

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

28,372

25,682

SHAREHOLDERS' FUNDS

28,472

25,782

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 22 February 2018 and were signed by:

RJ Taylor - Director

1.	STATUTORY INFORMATION

All Round Trading 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

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

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 June 2016

22,299

15,936

100,832

139,067

Additions

-

-

6,505

6,505

At 31 May 2017

22,299

15,936

107,337

145,572

DEPRECIATION

At 1 June 2016

6,690

9,213

54,522

70,425

Charge for year

2,230

1,681

13,204

17,115

At 31 May 2017

8,920

10,894

67,726

87,540

NET BOOK VALUE

At 31 May 2017

13,379

5,042

39,611

58,032

At 31 May 2016

15,609

6,723

46,310

68,642

5.

STOCKS

2017

2016

£

£

Stock

1,000

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

43,000

-

Prepayments

3,183

2,943

46,183

2,943

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

9,000

9,000

Trade creditors

23,288

33,877

Corporation tax

9,878

15,960

Social security and other taxes

2,019

3,140

VAT

26,334

26,679

Directors' current accounts

4,397

17,648

74,916

106,304

The amount owing to the director is unsecured, bears no interest and has no fixed repayment terms.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loan

-

9,000

Other creditors

30,000

30,000

30,000

39,000

Other creditors is an amount owing to the director. This sum is unsecured, bears no interest and has

no fixed repayment terms.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

9,000

18,000

The bank borrowings are secured by the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

8,484

10,607

Deferred

tax

£

Balance at 1 June 2016

10,607

Credit to Income Statement during year

(2,123

)

Balance at 31 May 2017

8,484

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Changos Burrito Bar Limited, a company registered in England and

Wales.

In the opinion of the director the company is ultimately controlled by Mr RJ Taylor by virtue of his

shareholding in the ultimate parent company.

14.	FIRST YEAR ADOPTION

This is the first year in which the entity has adopted FRS102. The director has reviewed in detail the

requirements of FRS102 and having considered all aspects of the entity's accounting policies, the

director is able to confirm that there were no adjustments necessary to any comparative amounts as a

result of the transition to FRS102.