Automatic Lounge Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04332250 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

AUTOMATIC LOUNGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

L Hollinworth

Registered office:

Automatic Cafe Bar

The Met, Derby Hall

Market Street

Bury

Lancashire

BL9 OBW

Registered number:

04332250 (England and Wales)

Accountants:

Haines Watts Manchester Limited

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Bankers:

National Westminister plc

Chorlton-cum-Hardy

438 Barlow Moor Road

Manchester

M21 0BR

Fixed assets

Tangible assets

5

204,097

254,998

Current assets

Stocks

33,046

41,060

Debtors

6

121,038

160,975

Cash at bank and in hand

178,292

148,482

332,376

350,517

Creditors

Amounts falling due within one year

7

259,252

276,212

Net current assets

73,124

74,305

Total assets less current liabilities

277,221

329,303

Creditors

Amounts falling due after more than one year

8

(287,622

)

(286,425

)

Provisions for liabilities

(9,680

)

(19,343

)

Net (liabilities)/assets

(20,081

)

23,535

Capital and reserves

Called up share capital

10

100

100

Retained earnings

(20,181

)

23,435

Shareholders' funds

(20,081

)

23,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 18 December 2019 and were signed by:

L Hollinworth - Director

1.	Statutory information

Automatic Lounge Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	Statement of compliance

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

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

20% straight line

Equipment and utensils

-

15% straight line

Fixtures and fittings

-

15% straight line

Motor vehicles

-

25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses.

Stocks

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

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 70 (2018 - 80 ) .

5.	Tangible fixed assets

Improvements

Equipment

Freehold

to

and

property

property

utensils

£

£

£

Cost

At 1 April 2018

and 31 March 2019

152,937

225,220

215,863

Depreciation

At 1 April 2018

-

206,294

174,123

Charge for year

-

18,926

15,418

At 31 March 2019

-

225,220

189,541

Net book value

At 31 March 2019

152,937

-

26,322

At 31 March 2018

152,937

18,926

41,740

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Cost

At 1 April 2018

and 31 March 2019

142,616

23,742

760,378

Depreciation

At 1 April 2018

105,861

19,102

505,380

Charge for year

11,917

4,640

50,901

At 31 March 2019

117,778

23,742

556,281

Net book value

At 31 March 2019

24,838

-

204,097

At 31 March 2018

36,755

4,640

254,998

Included within the net book value of tangible fixed assets is £Nil (2018 - £4,640) in respect of assets held

under hire purchase agreements. The depreciation charged for the year on these assets was £4,640 (2018 -

£4,640).

6.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

2,850

1,339

Other debtors

118,188

159,636

121,038

160,975

7.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

-

27,277

Hire purchase contracts

-

4,467

Trade creditors

138,663

109,997

Taxation and social security

52,476

76,334

Other creditors

68,113

58,137

259,252

276,212

8.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Bank loans

287,622

286,425

9.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

287,622

313,702

Hire purchase contracts

-

4,467

287,622

318,169

The company's bank loans are secured by fixed and floating charges over all the property or undertaking of the

company.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary Shares

£1

100

100

11.	Director's advances, credits and guarantees

The director operates a loan account with the company at the year end the amount due from the company to

the director was £2,590 (2018 - £15,694 due to the company). The loan is interest free and repayable on

demand.