Able Taverns Ltd - Filleted accounts

Registered number

04698602

Able Taverns Ltd

Unaudited Filleted Accounts

31 July 2017

Able Taverns Ltd
Registered number:		04698602
Balance Sheet
as at 31 July 2017

Notes			2017			2016
£				£
Current assets
Stocks		2,929			3,259
Debtors	4	17,512			13,125
Cash at bank and in hand		1,436			3,062
		21,877			19,446

Creditors: amounts falling due within one year	5	(17,996)			(18,748)

Net current assets			3,881			698

Total assets less current liabilities			3,881			698

Creditors: amounts falling due after more than one year	6		-			(536)



Net assets			3,881			162

Capital and reserves
Called up share capital			100			100
Profit and loss account			3,781			62

Shareholders' funds			3,881			162

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.




Mr B Monaghan
Director
Approved by the board on 30 April 2018

Able Taverns Ltd
Notes to the Accounts
for the year ended 31 July 2017


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.

	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:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	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.


2	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 August 2016				29,000
	At 31 July 2017				29,000

	Amortisation
	At 1 August 2016				29,000
	At 31 July 2017				29,000

	Net book value
	At 31 July 2017				-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 August 2016				1,898
	At 31 July 2017				1,898

	Depreciation
	At 1 August 2016				1,898
	At 31 July 2017				1,898

	Net book value
	At 31 July 2017				-


4	Debtors		2017		2016
£				£

	Other debtors		17,512		13,125


5	Creditors: amounts falling due within one year		2017		2016
£				£

	Trade creditors		2,795		2,468
	Corporation tax		5,842		4,608
	Other taxes and social security costs		3,374		3,350
	Accruals		597		534
	Other creditors		5,388		7,788
			17,996		18,748


6	Creditors: amounts falling due after one year		2017		2016
£				£

	Bank loans		-		536


7	Other information

	Able Taverns Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Waters Lane
	Westbury On Trym
	Bristol
	BS9 4AA