Windmill Fast Foods Ltd
Windmill Fast Foods Ltd
Registered number: 04142392
Unaudited Financial Statements
For The Year Ended 31 July 2017
Chong & Co
Chartered Certified Accountants
1 Mostyn Road
London
SW19 3LH
Windmill Fast Foods Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Windmill Fast Foods Ltd
Balance Sheet
As at
31 July 2017
Balance Sheet
Registered number:
04142392
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 6 |
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| Tangible Assets | 7 |
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| CURRENT ASSETS | |||||
| Stocks | 8 |
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| Debtors | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 11 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 13 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 56,444 | 70,035 | |||
Page 1
Windmill Fast Foods Ltd
Balance Sheet (continued)
As at
31 July 2017
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Windmill Fast Foods Ltd
Notes to the Unaudited Accounts
For The Year Ended 31 July 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Sales, marketing and distribution |
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Page 3
Windmill Fast Foods Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
6.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at |
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| Amortisation | |||
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| Net Book Value | |||
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7.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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8.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock - materials |
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Page 4
Windmill Fast Foods Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
9.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Corporation tax recoverable assets |
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| Director's loan account | 26,937 | - | |
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10.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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| Director's loan account | - |
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11.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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12.
Obligations Under Finance Leases and Hire Purchase
| 2017 | 2016 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Between one and five years |
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| Less: Finance charges allocated to future periods |
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Page 5
Windmill Fast Foods Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
14.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
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| £ | £ | £ | £ | |
| Mr Kaman Tsang |
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The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
| 2017 | 2016 | |
|---|---|---|
| £ | £ | |
| Mr Kaman Tsang | - | 5,500 |
15.
Dividends
| 2017 | 2016 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| - | 11,000 | ||
16.
Controlling Party
The company's controlling party is Mr Kaman Tsang by virtue of his ownership of 50% of the issued share capital in the company.
17.
General Information
Windmill Fast Foods Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04142392 . The registered office is 5 Mimram Road, Stone Cross, Pevensey, East Sussex, BN24 5DZ.
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