Wentworth Pubs & Dining Limited 31/08/2018 iXBRL

Wentworth Pubs & Dining Limited 31/08/2018 iXBRL

WENTWORTH PUBS & DINING LIMITED - Company Information

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Company registration number: 08568457
Wentworth Pubs & Dining Limited
Unaudited filleted financial statements
31 August 2018
Wentworth Pubs & Dining Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Wentworth Pubs & Dining Limited
Directors and other information
Director Mr Ian Philip Mitty
Company number 08568457
Registered office 15 Crank Road
Billinge
Lanashire
WN5 7DT
Business address 15 Crank Road
Billinge
Lancashire
WN5 7DT
Wentworth Pubs & Dining Limited
Statement of financial position
31 August 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 15,927 17,952
_______ _______
15,927 17,952
Current assets
Stocks 16,233 19,602
Debtors 6 18,193 7,557
Cash at bank and in hand 28,950 18,947
_______ _______
63,376 46,106
Creditors: amounts falling due
within one year 7 ( 142,534) ( 140,426)
_______ _______
Net current liabilities ( 79,158) ( 94,320)
_______ _______
Total assets less current liabilities ( 63,231) ( 76,368)
_______ _______
Net liabilities ( 63,231) ( 76,368)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 63,331) ( 76,468)
_______ _______
Shareholders deficit ( 63,231) ( 76,368)
_______ _______
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2018 , and are signed on behalf of the board by:
Mr Ian Philip Mitty
Director
Company registration number: 08568457
Wentworth Pubs & Dining Limited
Statement of changes in equity
Year ended 31 August 2018
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2016 100 ( 22,003) ( 21,903)
Profit/(loss) for the year ( 54,465) ( 54,465)
_______ _______ _______
Total comprehensive income for the year - ( 54,465) ( 54,465)
_______ _______ _______
At 31 August 2017 and 1 September 2017 100 ( 76,468) ( 76,368)
Profit/(loss) for the year 13,137 13,137
_______ _______ _______
Total comprehensive income for the year - 13,137 13,137
_______ _______ _______
At 31 August 2018 100 ( 63,331) ( 63,231)
_______ _______ _______
Wentworth Pubs & Dining Limited
Notes to the financial statements
Year ended 31 August 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Wentwoth Pubs & Dining Ltd, 15 Crank Road, Billinge, Lanashire, WN5 7DT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and equipment - 15 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2017: 38 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 September 2017 37,887 37,887
Additions 4,303 4,303
_______ _______
At 31 August 2018 42,190 42,190
_______ _______
Depreciation
At 1 September 2017 19,935 19,935
Charge for the year 6,328 6,328
_______ _______
At 31 August 2018 26,263 26,263
_______ _______
Carrying amount
At 31 August 2018 15,927 15,927
_______ _______
At 31 August 2017 17,952 17,952
_______ _______
6. Debtors
2018 2017
£ £
Other debtors 18,193 7,557
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts - 7,783
Trade creditors 35,341 33,038
Social security and other taxes 42,839 37,085
Other creditors 64,354 62,520
_______ _______
142,534 140,426
_______ _______
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 31,000 31,000
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Ian Philip Mitty ( 44,648) ( 2,697) - ( 47,345)
_______ _______ _______ _______
2017
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Ian Philip Mitty 3,384 - ( 48,032) ( 44,648)
_______ _______ _______ _______