Bubble Cha Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08253485 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

BUBBLE CHA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Y Cheng

SECRETARY:

Mrs L Cheng

REGISTERED OFFICE:

52 Stowell Street

Newcastle upon Tyne

NE1 4XQ

REGISTERED NUMBER:

08253485 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

28,120

32,187

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

5

56,793

45,154

Cash at bank and in hand

300

1,066

59,093

48,220

CREDITORS

Amounts falling due within one year

6

94,943

59,207

NET CURRENT LIABILITIES

(35,850

)

(10,987

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,730

)

21,200

CREDITORS

Amounts falling due after more than one year

7

(20,074

)

(22,870

)

PROVISIONS FOR LIABILITIES

-

(2,754

)

NET LIABILITIES

(27,804

)

(4,424

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(27,806

)

(4,426

)

SHAREHOLDERS' FUNDS

(27,804

)

(4,424

)

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 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 26 October 2018 and were signed by:

K Y Cheng - Director

1.	STATUTORY INFORMATION

Bubble Cha 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 represents sales of goods from the company's principal activity, excluding value added tax.

Tangible fixed assets

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

Short leasehold

-

straight line over 10 years

Plant and machinery

-

10% 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.

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.

Going concern

Although the company has incurred losses in this and the previous financial year, the accounts have been

prepared using the going concern concept. This basis has been applied because the directors consider that the

company has sufficient financial support to continue to operate for at least 12 months from the issue of these

financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2017

3,951

44,875

48,826

Additions

-

874

874

At 31 January 2018

3,951

45,749

49,700

DEPRECIATION

At 1 February 2017

1,074

15,565

16,639

Charge for year

395

4,546

4,941

At 31 January 2018

1,469

20,111

21,580

NET BOOK VALUE

At 31 January 2018

2,482

25,638

28,120

At 31 January 2017

2,877

29,310

32,187

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

56,793

45,154

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

83

-

Trade creditors

26,339

31,347

Taxation and social security

1,012

14,059

Other creditors

67,509

13,801

94,943

59,207

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

20,074

22,870

8.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

27,000

29,097

Between one and five years

6,750

108,000

33,750

137,097

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

10.	RELATED PARTY DISCLOSURES

Wing Hong & Company Ltd is related by way of the director, also being a director of that company.

Wing Kee Limited is related by way of the director, also being a director of that company.

The company has provided an interest free loan to Wing Hong & Company Ltd of £19,300 (2017:£19,300). The

balance remained outstanding at the year end, with no formal terms for repayment.

During the year the company received an interest free loan from Wing Kee Limited of £45,883. The balance

remained outstanding at the year end, with no formal terms for repayment.

During the year the director made an interest free loan to the company. At the balance sheet date the amount

outstanding was £8,350 (2017: £2,153).

The company operates one of its outlets, on a rent free basis, from premises which are owned by its director. No

formal lease exists for this property.

The director and their spouse have provided a joint personal guarantee over a property lease entered into by the

company.