Changos Limited - Accounts to registrar (filleted) - small 18.2
Changos Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Changos Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2018 |
| Changos Limited (Registered number: 08241646) |
| Contents of the Financial Statements |
| for the year ended 31 May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Changos Limited |
| Company Information |
| for the year ended 31 May 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 28 Eaton Avenue |
| Matrix Office Park |
| Buckshaw Village |
| Chorley |
| Lancashire |
| PR7 7NA |
| Changos Limited (Registered number: 08241646) |
| Balance Sheet |
| 31 May 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Changos Limited (Registered number: 08241646) |
| Balance Sheet - continued |
| 31 May 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| Changos Limited (Registered number: 08241646) |
| Notes to the Financial Statements |
| for the year ended 31 May 2018 |
| 1. | STATUTORY INFORMATION |
| Changos Limited is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The amounts in the financial statements have been rounded to the nearest £1. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The financial statements have been prepared on the going concern basis as the director has |
| confirmed their continued financial support of the company. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are recognised when the company becomes party to the contractual provisions |
| of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are |
| initially measured at transaction price and are subsequently carried at cost unless the arrangement |
| indicates otherwise and then the asset is measured at the present value of the future receipts |
| discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, |
| bank loans and group borrowings, are initially recognised at transaction price and are subsequently |
| carried at cost unless the arrangement indicates otherwise and then the liability is measured at the |
| present value of the future obligations discounted at a market rate of interest. |
| 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. |
| Changos Limited (Registered number: 08241646) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| Additions |
| At 31 May 2018 |
| DEPRECIATION |
| Charge for year |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| VAT |
| Prepayments |
| Changos Limited (Registered number: 08241646) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 10,508 | - |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more than 5 years |
| Hire purchase contracts |
| Amounts owed to group undertakings |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | 46,880 | 58,500 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | 16,479 | - |
| Bank loans | 108,789 | 117,000 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | 1 | 1 | 1 |
| Changos Limited (Registered number: 08241646) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2018 |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
| 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
| party transactions with wholly owned subsidiaries within the group. |
| There is in place a cross company guarantee between Changos Limited and All Round Trading Limited |
| (a wholly owned subsidiary of Changos Burrito Bar Limited) in favour of the group's bank. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Changos Burrito Bar Limited, a company registered in England and |
| Wales. |
| In the opinion of the director the company is ultimately controlled by Mr RJ Taylor by virtue of his |
| shareholding in the ultimate parent company. |