PAANSHEE RESTAURANT LIMITED
PAANSHEE RESTAURANT LIMITED
Registered number: 9010415
Director's Report and
Financial Statements
For The Year Ended 30 April 2018
Roy & Co
Chartered Certified Accountants
139 Wilbraham Road
Manchester
M14 7DS
PAANSHEE RESTAURANT LIMITED
Director's Report and Financial Statements
For The Year Ended 30 April 2018
Director's Report and Financial Statements
| Contents | |
| Page | |
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| Company Information | 1 |
| Director's Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Notes to the Financial Statements | 7—9 |
PAANSHEE RESTAURANT LIMITED
Company Information
For The Year Ended 30 April 2018
Company Information
| Director |
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| Company Number |
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| Registered Office | 139 Wilbraham Road |
| Manchester | |
| M14 7DS | |
| Accountants |
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| Chartered Certified Accountants | |
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| Manchester | |
| M14 7DS | |
Page 1
PAANSHEE RESTAURANT LIMITED
Company No. 9010415
Director's Report For The Year Ended 30 April 2018
Director's Report
The director presents his report and the financial statements for the year ended 30 April 2018 .
Statement of Director's Responsibilities
The director is responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
PAANSHEE RESTAURANT LIMITED
Accountant's Report
For The Year Ended 30 April 2018
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 April 2018 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Chartered Certified Accountants
139 Wilbraham Road
Manchester
M14 7DS
Page 3
PAANSHEE RESTAURANT LIMITED
Profit and Loss Account
For The Year Ended 30 April 2018
Profit and Loss Account
| 2018 | 2017 | |||
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| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| OPERATING PROFIT/(LOSS) |
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| Interest payable and similar charges |
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| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
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The notes on pages 7 to 9 form part of these financial statements.
Page 4
PAANSHEE RESTAURANT LIMITED
Balance Sheet
As at
30 April 2018
Balance Sheet
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (11,096) | (14,017) | |||
Page 5
PAANSHEE RESTAURANT LIMITED
Balance Sheet (continued)
As at
30 April 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 7 to 9 form part of these financial statements.
Page 6
PAANSHEE RESTAURANT LIMITED
Notes to the Financial Statements
For The Year Ended 30 April 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
Page 7
PAANSHEE RESTAURANT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2018
3.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at |
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| Net Book Value | |||
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4.
Tangible Assets
| Fixtures & Fittings | |
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| £ | |
| Cost | |
| As at |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
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5.
Stocks
| 2018 | 2017 | ||
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| £ | £ | ||
| Stock - materials |
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6.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Trade creditors |
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| VAT |
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Page 8
PAANSHEE RESTAURANT LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2018
7.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Directors Loans (Long term liabilities - creditors > 1 year) |
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9.
General Information
PAANSHEE RESTAURANT LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 9010415 . The registered office is 139 Wilbraham Road, Manchester, M14 7DS.
Page 9