The Walnut Grove (Dorchester) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11973832 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE WALNUT GROVE (DORCHESTER) LIMITED

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

25,200

29,400

Tangible assets

5

4,653

4,603

29,853

34,003

Current assets

Stocks

1,000

750

Debtors

6

88,081

72,274

Cash at bank and in hand

13,266

21,014

102,347

94,038

Creditors

Amounts falling due within one year

7

94,657

78,073

Net current assets

7,690

15,965

Total assets less current liabilities

37,543

49,968

Creditors

Amounts falling due after more than one year

8

21,667

31,667

Net assets

15,876

18,301

Capital and reserves

Called up share capital

10

1,000

Retained earnings

14,876

17,301

Shareholders' funds

15,876

18,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by:

Mrs N J Cutler - Director

1.	Statutory information

The Walnut Grove (Dorchester) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11973832. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 25 Durngate Street, Dorchester, Dorset, DT1 1JP.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents income generated from restaurant sales, net of VAT where applicable.

Goodwill

Goodwill, being amounts paid in connection with acquiring the business in 2019, is being amortised over its estimated useful life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 8 (2022 - 7 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2022

and 31 March 2023

42,000

Amortisation

At 1 April 2022

12,600

Charge for year

4,200

At 31 March 2023

16,800

Net book value

At 31 March 2023

25,200

At 31 March 2022

29,400

5.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2022

10,912

Additions

1,601

At 31 March 2023

12,513

Depreciation

At 1 April 2022

6,309

Charge for year

1,551

At 31 March 2023

7,860

Net book value

At 31 March 2023

4,653

At 31 March 2022

4,603

6.

Debtors: amounts falling due within one year

2023

2022

£

Other debtors

62,141

37,413

Directors' current accounts

19,932

32,220

Prepayments and accrued income

6,008

2,641

88,081

72,274

7.

Creditors: amounts falling due within one year

2023

2022

£

Bank loans and overdrafts

10,000

Trade creditors

15,309

9,789

Tax

23,682

14,267

Social security and other taxes

1,342

-

VAT

39,701

39,866

Other creditors

408

269

Accruals and deferred income

4,215

3,882

94,657

78,073

8.

Creditors: amounts falling due after more than one year

2023

2022

£

Bank loans - 1-2 years

10,000

Bank loans - 2-5 years

11,667

21,667

31,667

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

Within one year

23,400

Between one and five years

-

23,400

46,800

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

1,000

Ordinary

£1

1,000

11.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

Mr G Cutler and Mrs N J Cutler

Balance outstanding at start of year

32,220

4,409

Amounts advanced

102,022

93,594

Amounts repaid

(114,310

)

(65,783

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

19,932

32,220

At the year end the Directors, Mr & Mrs Cutler, owed the company amounts totalling £19,932 (2022: £32,220), which are included within debtors: amounts falling due within one year. All amounts were fully repaid within nine months of the year end.

12.	Ultimate controlling party

The directors, Mr G & Mrs N Cutler, by virtue of their combined 100% ownership of the issued share capital of the company, are deemed to have control.