Agora Restaurants Limited - Filleted accounts

Registered number

05271681

Agora Restaurants Limited

Filleted Accounts

30 November 2016

Agora Restaurants Limited
Registered number:		05271681
Balance Sheet
as at 30 November 2016

Notes			2016			2015
£				£
Fixed assets
Intangible assets	3		66,000			88,000
Tangible assets	4		30,201			33,174
Investments	5		-			1,959
			96,201			123,133

Current assets
Stocks		7,204			5,793
Debtors	6	2,000			10,287
Cash at bank and in hand		99,525			59,133
		108,729			75,213

Creditors: amounts falling due within one year	7	(58,033)			(45,063)

Net current assets			50,696			30,150

Net assets			146,897			153,283

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			145,897			152,283

Shareholders' funds			146,897			153,283

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




B. Temelli
Director
Approved by the board on 4 July 2017

Agora Restaurants Limited
Notes to the Accounts
for the year ended 30 November 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Plant and machinery			25% reducing balance method
	Fixtures, fittings, tools and equipment			25% reducing balance method

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2016		2015
Number							Number

	Average number of persons employed by the company					18		-


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 December 2015							330,000
	At 30 November 2016							330,000

	Amortisation
	At 1 December 2015							242,000
	Provided during the year							22,000
	At 30 November 2016							264,000

	Net book value
	At 30 November 2016							66,000
	At 30 November 2015							88,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 December 2015	15,000		215,667		4,800		235,467
	Additions	-		1,949		6,700		8,649
	Disposals	-		-		(4,800)		(4,800)
	At 30 November 2016	15,000		217,616		6,700		239,316

	Depreciation
	At 1 December 2015	11,000		188,475		2,818		202,293
	Charge for the year	2,000		7,082		888		9,970
	On disposals	-		-		(3,148)		(3,148)
	At 30 November 2016	13,000		195,557		558		209,115

	Net book value
	At 30 November 2016	2,000		22,059		6,142		30,201
	At 30 November 2015	4,000		27,192		1,982		33,174


5	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 December 2015							1,959
	Revaluation							(1,959)

	At 30 November 2016							-


6	Debtors					2016		2015
£							£

	Other debtors					2,000		10,287


7	Creditors: amounts falling due within one year					2016		2015
£							£

	Trade creditors					8,547		10,036
	Corporation tax					25,465		10,397
	Other taxes and social security costs					24,021		22,671
	Other creditors					-		1,959
						58,033		45,063


8	Loans					2016		2015
£							£
	Creditors include:

	Secured bank loans					-		72,188




9	Other financial commitments					2016		2015
£							£

	Total future minimum payments under non-cancellable operating leases					165,000		247,500


10	Controlling party

	The directors control the company.


11	Other information

	Agora Restaurants Limited is a private company limited by shares and incorporated in England. Its registered office is:
	4 Kings Parade
	Cambridge
	CB2 1SJ