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Company registration number:05463435
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288 BAR & WOK LIMITED 288 BAR & WOK
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 September 2015
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288 BAR & WOK LIMITED 288 BAR & WOK |
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BALANCE SHEET |
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AS AT 30 September 2015
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2015 |
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2014 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS |
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Intangible assets |
2 |
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29,802
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32,802
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Tangible assets |
3 |
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26,787
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33,423
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56,589
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66,225
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CURRENT ASSETS |
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Stocks |
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6,723
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8,188
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Debtors |
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82,266
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88,945
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Cash at bank and in hand |
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96,042
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62,334
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Current asset investments |
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30,277
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30,093
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215,308
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189,560
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CREDITORS |
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Amounts falling due within one year |
(65,810) |
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(76,038) |
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NET CURRENT ASSETS |
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149,498
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113,522
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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206,087
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179,747
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Creditors falling due after one year |
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(175) |
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(898) |
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PROVISIONS FOR LIABILITIES |
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(5,120) |
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(6,395) |
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NET ASSETS |
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200,792
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172,454
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CAPITAL AND RESERVES |
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Called-up equity share capital |
5 |
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4
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4
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Profit and loss account |
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200,788
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172,450
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SHAREHOLDERS FUNDS |
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200,792
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172,454
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For the year ending 30 September 2015 the company was entitled to exemptio under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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.......................................................................... |
Mr Pak Wai Hung
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7 June 2016
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The annexed notes form part of these financial statements. |
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288 BAR & WOK LIMITED 288 BAR & WOK |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2015 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).
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Turnover |
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Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the
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Intangible assets |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
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Fixed assets |
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
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Fixtures & Fittings 15% on reducing balanc
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Motor Vehicles 25% on reducing balanc
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Stocks and work In progress |
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Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
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Deferred taxation |
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Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. The company has not adopted a policy of discounting deferred tax assets and liabilities.
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Pension scheme |
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The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
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2. |
Intangible fixed assets |
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Total |
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Cost |
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At start of period |
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59,999
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At end of period |
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59,999
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Amortisation |
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At start of period |
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27,197
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Provided during the period |
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3,000
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At end of period |
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30,197
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Net Book Values |
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At start of period |
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32,802
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At end of period |
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29,802
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3. |
Tangible fixed assets |
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Total |
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Cost |
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At start of period |
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79,201
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At end of period |
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79,201
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Depreciation |
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At start of period |
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45,778
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Provided during the period |
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6,636
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At end of period |
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52,414
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Net Book Value |
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At start of period |
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33,423
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At end of period |
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26,787
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4. |
Debtors |
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Other debtors include a long term loan made to the employee, Mrs Jody Hung and the director, Mr Pak Wai Hung. |
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5. |
Share capital |
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Allotted, issued and fully paid
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2015 |
2014 |
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£ |
£ |
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Ordinary shares of £1 each
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4
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4
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Total issued share capital |
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4
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4
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6. |
Ultimate controlling party |
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The company is ultimately controlled by Mr Pak Wai Hung.
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