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Route Restaurants Limited
Registered Number:07445888
For the year ended 31 March 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2022
Route Restaurants Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
07445888
As at 31 March 2022
Route Restaurants Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
315,875
307,007
2
315,875
307,007
Current assets
Inventories
12,241
15,127
3
Trade and other receivables
31,234
19,568
4
109,228
Cash and cash equivalents
166,785
201,480
152,703
Trade and other payables: amounts falling due within one
year
(63,383)
(113,836)
5
89,320
87,644
Net current assets
Total assets less current liabilities
403,519
396,327
Trade and other payables: amounts falling due after more
than one year
(203,447)
(172,575)
6
(6,769)
(3,632)
Provisions for liabilities
224,175
Net assets
189,248
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
223,175
188,248
224,175
189,248
Shareholders' funds
For the year ended 31 March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
N J Hooper Director
These financial statements were approved and authorised for issue by the Board on 14 September 2022 and were signed by:
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4
Registered Number :
07445888
For the year ended 31 March 2022
Route Restaurants Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2022
Route Restaurants Limited
Notes to the Financial Statements
Statutory Information
Route Restaurants Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07445888.
Principal place of business:
London Road
Yarcombe
Honiton
EX14 9ND
Registered address:
Tregeagle St. Neot
Liskeard
Cornwall
PL14 6NR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and any other sales related taxes.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis. Included in motor vehicles, is a classic bike which will not go down in value:
Land and buildings
2% Straight line
25% Reducing balance
Equipment
25% Reducing balance
Motor vehicles other than bike
Inventories
Stock is stated at the lower of cost and net realisable value using the first in first out method. Cost comprises the actual cost of purchases. Net realisable value is the estimated selling price reduced by all costs of selling and distribution.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 31 March 2022
Route Restaurants Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment
Motor vehicles
other than
bike
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2021
414,183
55,943
21,535
336,705
24,193
24,193
-
-
Additions
At 31 March 2022
336,705
21,535
80,136
438,376
Provision for depreciation and impairment
At 01 April 2021
107,176
50,007
3,297
53,872
Charge for year
15,325
7,532
1,059
6,734
At 31 March 2022
122,501
57,539
4,356
60,606
At 31 March 2022
Net book value
276,099
17,179
22,597
315,875
At 31 March 2021
282,833
18,238
5,936
307,007
3. Inventories
2021
2022
£
£
Stocks
15,127
12,241
4. Trade and other receivables
2021
2022
£
£
Other debtors
19,568
31,234
5. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Bank loans and overdraft (secured)
34,977
27,434
Trade creditors
27,740
1,015
Taxation and social security
41,119
19,760
Other creditors
10,000
15,174
113,836
63,383
Included within taxation and social security is corporation tax of £20,837 (2021: £16,357).
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7
For the year ended 31 March 2022
Route Restaurants Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft (secured)
172,575
201,173
Other creditors
-
2,274
172,575
203,447
Analysis of creditors falling due after more than five years:
Payable by instalments
78,489
96,415
The mortgage is sucured over the freehold property of the company. Other creditors inculde £9,099 of hire purchase, this is secured against the assets to which it relates. In May 2020, the company took out a Covid Bounce Back Loan of £50,000. The loan is taken over a 72 month period with the first repayment being due 13 months after the loan was taken.The government will be covering the loan interest for the first 12 months and then the company will pay the interest on the remaining 60 months.
7. Related party transactions
Dividends of £60,558 were paid to the directors in the year.
The company is under the effective control of its directors.
8. Directors advances and guarantees
At 01/04/2021
Loaned
At 31/03/2022
£
£
£
S J Bowden
Loan form director
480
164
316
480
164
316
N J Hooper
Loan from director
466
164
302
466
164
302
9. Average number of persons employed
During the year the average number of employees was 28 (2021 : 22)
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