Eat Drink Events Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07928646 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

EAT DRINK EVENTS LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J Eggleton

L E Hasell

SECRETARY:

L E Hasell

REGISTERED OFFICE:

Herons Green Farm

Compton Martin

Bristol

BS40 6NL

REGISTERED NUMBER:

07928646 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the 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 Eat Drink Events Ltd for the year ended 31 January 2018 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity 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 Eat Drink Events Ltd, 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 Eat Drink Events Ltd and state those matters that we have agreed to state to the Board of Directors of Eat Drink Events Ltd, 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 Eat Drink Events Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Eat Drink Events Ltd 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 loss of Eat Drink Events Ltd. You consider that Eat Drink Events Ltd 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 Eat Drink Events Ltd. 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

17 September 2018

FIXED ASSETS

Tangible assets

4

109,842

144,174

CURRENT ASSETS

Stocks

3,000

1,000

Debtors

5

29,513

21,467

Cash at bank

17,121

23,142

49,634

45,609

CREDITORS

Amounts falling due within one year

6

436,763

332,962

NET CURRENT LIABILITIES

(387,129

)

(287,353

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(277,287

)

(143,179

)

CREDITORS

Amounts falling due after more than one year

7

9,474

38,008

NET LIABILITIES

(286,761

)

(181,187

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(286,861

)

(181,287

)

SHAREHOLDERS' FUNDS

(286,761

)

(181,187

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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.

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 29 August 2018 and were signed on its behalf by:

J Eggleton - Director

L E Hasell - Director

1.	STATUTORY INFORMATION

Eat Drink Events Ltd 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 represents sales of food and drink, excluding value added tax. Turnover is recognised when

the food and drink are purchased.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

33% on cost and 15% on reducing balance

Fixtures and fittings

-

15% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors are aware of the deficit of assets at the balance sheet date and have put in place a

series of measures to ensure future profitability. They have also undertaken to continue to support the

company. For these reasons it was considered that the accounts should be prepared on the going

concern basis

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2017 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 February 2017

17,795

129,913

45,112

192,820

Additions

-

6,045

-

6,045

At 31 January 2018

17,795

135,958

45,112

198,865

DEPRECIATION

At 1 February 2017

2,669

24,505

21,472

48,646

Charge for year

2,269

34,562

3,546

40,377

At 31 January 2018

4,938

59,067

25,018

89,023

NET BOOK VALUE

At 31 January 2018

12,857

76,891

20,094

109,842

At 31 January 2017

15,126

105,408

23,640

144,174

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

1,717

Other debtors

29,513

19,750

29,513

21,467

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

23,514

21,641

Hire purchase contracts (see note 8)

38,758

37,592

Trade creditors

128,861

110,393

Taxation and social security

47,354

24,052

Other creditors

198,276

139,284

436,763

332,962

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 8)

9,474

38,008

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2018

2017

£

£

Net obligations repayable:

Within one year

38,758

37,592

Between one and five years

9,474

38,008

48,232

75,600

At the year end the company has committed to making operating lease payments totalling £45,833

(2017: £70,833).

9.	DEFERRED TAX

£

Balance at 1 February 2017

(19,000

)

Provided during year

(9,500

)

Balance at 31 January 2018

(28,500

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary A

£1

100

100

11.	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.