Subway Southwest Limited - Period Ending 2018-09-30

Subway Southwest Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 September 2018

Registration number: 04294249

Subway Southwest Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

Subway Southwest Limited

Balance Sheet

30 September 2018

	Note	2018 £	2017 £
Current assets
Debtors	4	-	20,833
Cash at bank and in hand		-	1,433
		-	22,266
Creditors: Amounts falling due within one year	5	-	(8,750)
Net assets		-	13,516
Capital and reserves
Called up share capital		100	100
Profit and loss account		(100)	13,416
Total equity		-	13,516

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

Subway Southwest Limited

Balance Sheet

30 September 2018

For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 April 2019
 

......................................... Mr B J Knights Director

Company Registration Number: 04294249

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Subway Southwest Limited

Notes to the Financial Statements

Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Knoll Park
Truro
Cornwall
TR1 1FF

These financial statements were authorised for issue by the director on 30 April 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have not been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Page 3

Subway Southwest Limited

Notes to the Financial Statements

Year Ended 30 September 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2017 - 35).

4

Debtors

	30 September 2018  £	30 September 2017  £
Other debtors	-	20,833
	-	20,833

Page 4

Subway Southwest Limited

Notes to the Financial Statements

Year Ended 30 September 2018

5

Creditors

Creditors: amounts falling due within one year

	30 September 2018  £	30 September 2017  £
Due within one year
Social security and other taxes	-	4,631
Accrued expenses	-	4,119
	-	8,750

6	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Page 5