1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2 Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3 Turnover
Turnover represents amounts receivable for the sale of food and beverages net of VAT.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each assets over its expected useful life, as follows:
Land and buildings Leasehold over the lease term on buildings
Plant and machinery 25% straight line basis
Fixtures, fittings & equipment 25% straight line basis
1.5 Investments
Fixed assets investments are stated at cost less provision for diminution in value.
1.6 Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recoded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.7 Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3Fixed assets Investments
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:

Subsidiary undertakings
The Belgian Food Company Limited :- Country of registration: England and Wales,
Class: Ordinary, Shares held:100%
Wafflemeister Beeker Inc :- Country of registration: United States , Class: Shares held 100%
Wafflemeister Franchise Limited :- Country of registration: England and Wales,
Class: Ordinary, Shares held: 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
The Belgian Food Company Limited:- Principal activity: To hold leases on behalf of the parent company. Capital and reserves (2015): £3,365 Profit/(loss) for the year 2015: (£114).
Wafflemeister Beeker Inc:- Principal activity: Specialised food retailer, Capital and reserves (2015): £1,581, Profit/(loss) for the year 2015: £nil
Wafflemeister Franchise Limited: - Principal activity: Sale of the Wafflemeister brand through franchise, Capital and reserves (2015) :(£116,434), Profit/(loss) for the year 2015: (£67,568).

As at 31 December 2015, Wafflemeister Beeker Inc has not commenced trading.