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REGISTERED NUMBER:
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017 |
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REGISTERED NUMBER:
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017 |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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Page |
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Company Information | 1 |
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Accountants' Report | 2 | to | 3 |
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Abridged Statement of Financial Position | 4 | to | 5 |
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Notes to the Financial Statements | 6 | to | 9 |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the |
company is only required to file a Statement of Financial Position. Readers are cautioned that the |
Income Statement and certain other primary statements and the Report of the Directors are not |
required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of The American BBQ Company (Europe) Limited for the year ended |
31st March 2017 which comprise the Income Statement, Abridged Statement of Financial Position, and |
the related notes from the company's accounting records and from information and explanations you have |
given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of The American BBQ Company (Europe) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The American BBQ Company (Europe) Limited and state those matters that we have agreed to state to the Board of Directors of The American BBQ Company (Europe) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The American BBQ Company (Europe) Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that The American BBQ Company (Europe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The American BBQ Company (Europe) Limited. You consider that The American BBQ Company (Europe) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of The American BBQ Company (Europe) 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 financial statements. |
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Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31ST MARCH 2017 |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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1. | STATUTORY INFORMATION |
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The American BBQ Company (Europe) Limited is a
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England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue |
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other |
taxes of sales made during the year. |
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Revenue recognition |
Revenue is recognised when goods have been delivered and services supplied to customers such |
that risks and rewards of ownership have transferred to them. |
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Property, plant and equipment |
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Plant and machinery etc | - |
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Inventories |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not |
reversed at the statement of financial position date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the statement of financial position date. Transactions in foreign currencies are translated into |
sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into |
account in arriving at the operating result. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
Cost |
At 1st April 2016 |
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Additions |
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At 31st March 2017 |
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Depreciation |
At 1st April 2016 |
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Charge for year |
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At 31st March 2017 |
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Net book value |
At 31st March 2017 |
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At 31st March 2016 |
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6. | LEASING AGREEMENTS |
At 31 March 2017, the company had total commitments under non-cancellable operating leases |
over the remaining life of those leases of £54,798 (2016 - £65,872). |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The bank loan is secured by a fixed charge over the assets owned by the company. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
THE AMERICAN BBQ COMPANY (EUROPE) |
LIMITED (REGISTERED NUMBER: 07556797) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2017 |
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9. | TRANSITION TO FINANCIAL REPORTING STANDARD 102 |
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This is the first year that the company has presented its results in accordance with the provisions of |
Section 1A “Small Entities” of Financial Reporting Standard 102. The last financial statements under |
the provisions of UK GAAP were for the year ended 31 March 2016. The date of the transition to |
Section 1A “Small Entities” of Financial Reporting Standard 102 was 1 April 2015. There has been no |
effect on the financial statements arising from the transition from UK GAAP as previously reported |
and Section 1A “Small Entities” of Financial Reporting Standard 102. |