Revolution Waves Ltd Filleted accounts for Companies House (small and micro)

Revolution Waves Ltd Filleted accounts for Companies House (small and micro)

THECHAMPIONSKITCHEN LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09959383
REVOLUTION WAVES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2018
REVOLUTION WAVES LTD
STATEMENT OF FINANCIAL POSITION
31 January 2018
2018
2017
Note
£
£
£
FIXED ASSETS
Tangible assets
4
660
789
CURRENT ASSETS
Stocks
28,417
32,800
Debtors
5
21,476
10,697
Cash at bank and in hand
1,138
1,128
--------
--------
51,031
44,625
CREDITORS: amounts falling due within one year
6
55,500
13,427
--------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 4,469)
31,198
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 3,809)
31,987
-------
--------
NET (LIABILITIES)/ASSETS
( 3,809)
31,987
-------
--------
CAPITAL AND RESERVES
Called up share capital
133
133
Share premium account
43,689
43,689
Profit and loss account
( 47,631)
( 11,835)
--------
--------
SHAREHOLDERS (DEFICIT)/FUNDS
( 3,809)
31,987
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
REVOLUTION WAVES LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2018
These financial statements were approved by the board of directors and authorised for issue on 2 November 2018 , and are signed on behalf of the board by:
C A Simpson-Daniel
Director
Company registration number: 09959383
REVOLUTION WAVES LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Northminster Business Park, Upper Poppleton, York, YO26 6QU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its liabilities as they fall due. The company meets its day to day working capital requirements through the financial support of the directors. The directors have confirmed that they will continue to support the company and will not withdraw their support to the detriment of the third party creditors. On this basis, the directors concluded it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the directors loan accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2017
13
988
50
1,051
Additions
–
90
–
90
----
-------
----
-------
At 31 January 2018
13
1,078
50
1,141
----
-------
----
-------
Depreciation
At 1 February 2017
3
247
12
262
Charge for the year
2
207
10
219
----
-------
----
-------
At 31 January 2018
5
454
22
481
----
-------
----
-------
Carrying amount
At 31 January 2018
8
624
28
660
----
-------
----
-------
At 31 January 2017
10
741
38
789
----
-------
----
-------
5. DEBTORS
2018
2017
£
£
Trade debtors
21,238
7,217
Other debtors
238
3,480
--------
--------
21,476
10,697
--------
--------
6. CREDITORS: amounts falling due within one year
2018
2017
£
£
Trade creditors
24,869
8,825
Directors current accounts
509
3,494
Other creditors
30,122
1,108
--------
--------
55,500
13,427
--------
--------