REGISTERED NUMBER: 06193928 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

COBRA RESTAURANTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Bradley

S N Coates

SECRETARY:

Mrs L Bradley

REGISTERED OFFICE:

Bluefish House

46 High Street

Hurstpierpoint

West Sussex

BN6 9RG

REGISTERED NUMBER:

06193928 (England and Wales)

ACCOUNTANTS:

Badcock Business Solutions

Chartered Accountants

4 Prince William Close

Worthing

West Sussex

BN14 0AZ

FIXED ASSETS

Intangible assets

2

32,423

38,078

Tangible assets

3

252,610

319,737

285,033

357,815

CURRENT ASSETS

Stocks

12,867

11,146

Debtors

66,748

24,073

Cash at bank and in hand

139,874

103,645

219,489

138,864

CREDITORS

Amounts falling due within one year

4

316,982

253,722

NET CURRENT LIABILITIES

(97,493

)

(114,858

)

TOTAL ASSETS LESS CURRENT LIABILITIES

187,540

242,957

CREDITORS

Amounts falling due after more than one year

4

203,835

281,747

NET LIABILITIES

(16,295

)

(38,790

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(16,395

)

(38,890

)

SHAREHOLDERS' FUNDS

(16,295

)

(38,790

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 June 2014 and were signed on its behalf by:

M Bradley - Director

S N Coates - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Intangible fixed assets

Intangible assets, being the cost of acquiring a franchise licence, are being written off on a straight line basis

over the period of the licence of 10 years.

Tangible fixed assets

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

Short leasehold

-

Straight line over 20 years

Plant & kitchen equipment

-

25% on cost

Furniture & fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

56,557

AMORTISATION

At 1 April 2013

18,479

Amortisation for year

5,655

At 31 March 2014

24,134

NET BOOK VALUE

At 31 March 2014

32,423

At 31 March 2013

38,078

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

790,388

Additions

26,895

At 31 March 2014

817,283

DEPRECIATION

At 1 April 2013

470,651

Charge for year

94,022

At 31 March 2014

564,673

NET BOOK VALUE

At 31 March 2014

252,610

At 31 March 2013

319,737

4.

CREDITORS

Creditors include an amount of £ 264,833 (31/3/13 - £ 333,061 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/14

31/3/13

value:

£

£

100

Ordinary

£1

100

100