Caseware UK (AP4) 2016.0.208 2016.0.208 2017-12-312017-12-31The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseRestaurantfalse2016-11-17 10483663 2016-11-16 10483663 2016-11-17 2017-12-31 10483663 2017-12-31 10483663 c:Director5 2016-11-17 2017-12-31 10483663 d:Buildings d:ShortLeaseholdAssets 2016-11-17 2017-12-31 10483663 d:Buildings d:ShortLeaseholdAssets 2017-12-31 10483663 d:PlantMachinery 2016-11-17 2017-12-31 10483663 d:PlantMachinery 2017-12-31 10483663 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-11-17 2017-12-31 10483663 d:ComputerEquipment 2016-11-17 2017-12-31 10483663 d:ComputerEquipment 2017-12-31 10483663 d:ComputerEquipment d:OwnedOrFreeholdAssets 2016-11-17 2017-12-31 10483663 d:OtherPropertyPlantEquipment 2016-11-17 2017-12-31 10483663 d:OtherPropertyPlantEquipment 2017-12-31 10483663 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-11-17 2017-12-31 10483663 d:OwnedOrFreeholdAssets 2016-11-17 2017-12-31 10483663 d:CurrentFinancialInstruments 2017-12-31 10483663 d:Non-currentFinancialInstruments 2017-12-31 10483663 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 10483663 d:Non-currentFinancialInstruments d:AfterOneYear 2017-12-31 10483663 d:ShareCapital 2017-12-31 10483663 d:RetainedEarningsAccumulatedLosses 2017-12-31 10483663 c:OrdinaryShareClass1 2016-11-17 2017-12-31 10483663 c:OrdinaryShareClass1 2017-12-31 10483663 c:FRS102 2016-11-17 2017-12-31 10483663 c:AuditExempt-NoAccountantsReport 2016-11-17 2017-12-31 10483663 c:FullAccounts 2016-11-17 2017-12-31 10483663 c:PrivateLimitedCompanyLtd 2016-11-17 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10483663









FANCY CRAB LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 14 MONTHS ENDED 31 DECEMBER 2017

 
FANCY CRAB LTD
REGISTERED NUMBER: 10483663

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2017

2017
Note
£

Fixed assets
  

Tangible assets
 4 
1,813,891

  
1,813,891

Current assets
  

Stocks
 5 
41,562

Debtors: amounts falling due after more than one year
 6 
330,000

Debtors: amounts falling due within one year
 6 
113,047

Cash at bank and in hand
  
207,461

  
692,070

Creditors: amounts falling due within one year
 7 
(3,563,316)

Net current (liabilities)/assets
  
 
 
(2,871,246)

Total assets less current liabilities
  
(1,057,355)

Creditors: amounts falling due after more than one year
 8 
(30,000)

  

Net (liabilities)/assets
  
(1,087,355)


Capital and reserves
  

Called up share capital 
 9 
100

Profit and loss account
  
(1,087,455)

  
(1,087,355)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

 
FANCY CRAB LTD
REGISTERED NUMBER: 10483663
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2017


The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






A Kruglov
Director

Date: 12 November 2018
The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

1.


General information

The principal activity of Fancy Crab Ltd ("the Company") is the operation of a licensed restaurant.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 92 Wigmore Street London, W1U 3RD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
The Company made a loss of £1,087,455 during the year and had net current liabilities of £1,057,355 and net liabilities of £1,087,355.  The shareholders have confirmed that they will not seek repayment of their loan of £3,350,000 until such a time as the company can afford it.

 
2.3

Revenue

Turnover represents net invoiced sales of goods, excluding value added tax.  Revenue is recognised when payment is tendered at the time of sale.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property and improvements
-
Over the lease term of 24 years
Plant and machinery
-
20% Straight line
Computer equipment
-
20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income
Page 4

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

2.Accounting policies (continued)


2.7
Financial instruments (continued)

and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 17 November 2015 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.9

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the period in which they are incurred.


3.


Employees

The average monthly number of employees, including directors, during the period was 15.

Page 5

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Computer equipment
Leasehold renovations
Total

£
£
£
£
£



Cost or valuation


Additions
1,372,200
190,303
34,326
292,242
1,889,071



At 31 December 2017

1,372,200
190,303
34,326
292,242
1,889,071



Depreciation


Charge for the period on owned assets
42,881
21,534
3,495
7,270
75,180



At 31 December 2017

42,881
21,534
3,495
7,270
75,180



Net book value



At 31 December 2017
1,329,319
168,769
30,831
284,972
1,813,891


5.


Stocks

2017
£

Stock and food and beverages
41,562



6.


Debtors

2017
£

Due after more than one year

Other debtors
330,000


Page 6

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

6.Debtors (continued)


2017
£

Due within one year

Other debtors
17,634

Prepayments and accrued income
95,413

113,047



7.


Creditors: Amounts falling due within one year

2017
£

Other loans
3,350,000

Trade creditors
141,714

Other taxation and social security
27,544

Accruals and deferred income
44,058

3,563,316



8.


Creditors: Amounts falling due after more than one year

2017
£

Other creditors
30,000

30,000


Page 7

 
FANCY CRAB LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017

9.


Share capital

2017
£
Allotted, called up and fully paid


100 Ordinary shares of £1 each
100

During the period 100 Ordinary Shares of £1 each were issued and allotted at par.


10.


Related party transactions

Included in other loans due within one year is a loan of £3,350,000 by certain of the shareholders of the company. This loan is interest free and unsecured.

 
Page 8