High Lanes Fish & Chips Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06291838 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

HIGH LANES FISH & CHIPS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Nuciforo

Miss E M Nuciforo

SECRETARY:

J Nuciforo

REGISTERED OFFICE:

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

REGISTERED NUMBER:

06291838 (England and Wales)

ACCOUNTANTS:

Greenwood Wilson

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

27,306

28,787

27,306

28,787

CURRENT ASSETS

Stocks

3,000

2,000

Debtors

6

392

380

Cash at bank

8,577

17,138

11,969

19,518

CREDITORS

Amounts falling due within one year

7

37,380

47,463

NET CURRENT LIABILITIES

(25,411

)

(27,945

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,895

842

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

9

1,793

740

SHAREHOLDERS' FUNDS

1,895

842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 4 December 2018 and were signed on its behalf by:

J Nuciforo - Director

1.	STATUTORY INFORMATION

High Lanes Fish & Chips 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

50,000

AMORTISATION

At 1 July 2017

and 30 June 2018

50,000

NET BOOK VALUE

At 30 June 2018

-

At 30 June 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2017

21,170

8,000

18,513

47,683

Additions

3,867

-

-

3,867

At 30 June 2018

25,037

8,000

18,513

51,550

DEPRECIATION

At 1 July 2017

9,057

5,211

4,628

18,896

Charge for year

1,598

279

3,471

5,348

At 30 June 2018

10,655

5,490

8,099

24,244

NET BOOK VALUE

At 30 June 2018

14,382

2,510

10,414

27,306

At 30 June 2017

12,113

2,789

13,885

28,787

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments and accrued income

392

380

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

6,693

882

Social security and other taxes

114

1,608

VAT

7,554

6,997

Directors' current accounts

20,676

35,638

Accruals and deferred income

2,343

2,338

37,380

47,463

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary A

£100

2

2

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 July 2017

740

Profit for the year

27,053

Dividends

(26,000

)

At 30 June 2018

1,793