REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
SOUTH COAST RESTAURANT SERVICES LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
SOUTH COAST RESTAURANT SERVICES LLP |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Accountants' Report | 7 |
SOUTH COAST RESTAURANT SERVICES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
BALANCE SHEET |
31 DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET LIABILITIES ATTRIBUTABLE TO MEMBERS |
- |
- |
LOANS AND OTHER DEBTS DUE TO MEMBERS | - | - |
TOTAL MEMBERS' INTERESTS |
Amounts due from members | (492,138 | ) | (299,642 | ) |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
South Coast Restaurant Services LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
In preparing the financial statements, the members are required to make an assessment of the ability of the LLP to continue as a going concern. The members have considered all available evidence for the LLP which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 Pandemic the members have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the LLP. |
On the basis of this consideration, the members are satisfied that the LLP has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the members have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill relates to the assignment to the LLP of part of the income rights relating to Mr G Copper's joint venture with McDonalds Restaurants. This is being amortised evenly over its estimated useful life of ten years commencing 1 January 2013. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2020 - NIL). |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
Amortisation for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Goodwill relates to the assignment to the LLP by Mr G Copper of part of the income rights attributable to him relating to his joint venture with McDonalds Restaurants. |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2021 |
Disposals | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Eliminated on disposal | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
SOUTH COAST RESTAURANT SERVICES LLP (REGISTERED NUMBER: OC334964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
During the year the LLP entered into the following transactions with South Coast Foods Limited, a company in which G R Copper is a director and shareholder: |
Amounts receivable in respect of management fees - £111,141 (2020: £106,488). |
At 31 December 2021 the LLP did not owe anything to South Coast Foods Limited (2020: £3,547). |
During the year the LLP did not enter into any transactions with G & JC Restaurants Limited, a company in which G R Copper is a director and shareholder. |
At 31 December 2021 the LLP owed £603,178 to G & JC Restaurants Limited (2020: £577,058). |
ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SOUTH COAST RESTAURANT SERVICES LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In accordance with our terms of engagement we have prepared for your approval the attached financial statements from the business accounting records and from information and explanations you have given to us. |
The financial statements have been compiled using the going concern and historical cost basis. It is not intended to achieve full compliance with the provisions of UK Generally Accepted Accounting Principles. |
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 you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information and state those matters that we have agreed to state to you in this report in accordance with the guidance of ICAEW as detailed at icaew.com/compilation and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the person to whom this report is addressed for our work or for this report. |
You have approved the financial statements for the period described above, and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation. |
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 financial statements. |
Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |