Anchos Restaurants Limited - Period Ending 2015-05-31

Registration number: 05812257

Anchos Restaurants Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

Anchos Restaurants Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Anchos Restaurants Limited
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Anchos Restaurants Limited for the year ended 31 May 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Anchos Restaurants Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Anchos Restaurants Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anchos Restaurants Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Anchos Restaurants Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Anchos Restaurants Limited. You consider that Anchos Restaurants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Anchos Restaurants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

25 August 2015

Page 1

Anchos Restaurants Limited
(Registration number: 05812257)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					169,545			182,618
Investments					-			25
					169,545			182,643
Current assets
Stocks					14,115			14,115
Debtors		3			165,643			77,200
Cash at bank and in hand					166,033			149,269
					345,791			240,584
Creditors: Amounts falling due within one year					(111,743)			(110,952)
Net current assets					234,048			129,632
Total assets less current liabilities					403,593			312,275
Creditors: Amounts falling due after more than one year					(38,151)			(56,718)
Net assets					365,442			255,557
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					365,342			255,457
Shareholders' funds					365,442			255,557

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 25 August 2015

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Anchos Restaurants Limited
(Registration number: 05812257)
Abbreviated Balance Sheet at 31 May 2015
......... continued

.........................................
Mr Paul Sloan
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Anchos Restaurants Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is charged at a rate to write off the cost of assets over their estimated useful lifetime.

Asset class	Depreciation method and rate
Land & buildings	2% on cost
Plant & machinery	20% reducing balance
Fixtures & fittings	20% reducing balance

Fixed asset investments

Fixed asset investments are shown at cost less any permanent diminution in value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Anchos Restaurants Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 June 2014		386,675			25			386,700
Additions		7,319			-			7,319
Disposals		-			(25)			(25)
At 31 May 2015		393,994			-			393,994
Depreciation
At 1 June 2014		204,057			-			204,057
Charge for the year		20,392			-			20,392
At 31 May 2015		224,449			-			224,449
Net book value
At 31 May 2015		169,545			-			169,545
At 31 May 2014		182,618			25			182,643

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Associates
Pinto Restaurants (Holdings) Ltd	Scotland	Ordinary	0%

3

Debtors

Debtors includes £10,000 (2014 - £71,642) receivable after more than one year.

 

Page 5

Anchos Restaurants Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 6