REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2022 |
FOR |
TRIDEV HOSPITALITY LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2022 |
FOR |
TRIDEV HOSPITALITY LTD |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TRIDEV HOSPITALITY LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Landchard House |
Victoria Street |
West Bromwich |
West Midlands |
B70 8ER |
BANKERS: |
Queen Square |
Wolverhampton |
West Midlands |
WV1 1DS |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
BALANCE SHEET |
30TH JUNE 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET LIABILITIES | ( |
) | ( |
) |
RESERVES |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
BALANCE SHEET - continued |
30TH JUNE 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2022 |
1. | STATUTORY INFORMATION |
Tridev Hospitality Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the 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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the lease term, whichever is shorter |
Leasehold property -7 years straight line |
Fixtures and fittings -15% on reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 |
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. |
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. |
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. |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2022 |
3. | ACCOUNTING POLICIES - continued |
Government grants |
During the period the company benefited from £4,532 of government grants in the form of the Coronavirus Job Retention Scheme. In accordance with our accounting policy this credit is included in other income within the Income Statement over the same period as the staff costs for which it compensates. |
Also during the period the company benefited from £2,667 of Small Business Grant Fund (SBGF) and £5647 of Government Kick Start Scheme from local government to tackle the effects of the Covid-19 pandemic. |
In accordance with our accounting policy this credit is included in other income within the Income Statement. |
Going concern |
Although the company's balance sheet shows an excess of liabilities over assets at 30th June 2022 of £28,966, nearly all of this amount is finance provided by the Bounce Back Loan which is guaranteed by the Government. This facility covers a period of six years maturing May 2026 to pay back at a favourable interest rate of 2.5% per annum.The director believes that the going concern basis remains appropriate for the preparation of these financial statements. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st July 2021 |
Additions |
At 30th June 2022 |
DEPRECIATION |
At 1st July 2021 |
Charge for year |
At 30th June 2022 |
NET BOOK VALUE |
At 30th June 2022 |
At 30th June 2021 |
6. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
TRIDEV HOSPITALITY LTD (REGISTERED NUMBER: 11562536) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2022 | 2021 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
The above loan is unsecured and the terms are as follows: |
Six year Bounce back loan maturing May 2026. Interest rate is fixed at 2.5% per annum. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The total aggregated advances during the year were £21,003 in credit (2021: £22,192), and the balance outstanding at the end of the year were £4,266 in credit (2021: £25,269 in debit). |