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REGISTERED NUMBER: 11115040 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

TAP HOUSE SHOREHAM LTD

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAP HOUSE SHOREHAM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Ms M Gearing
D Gearing
T J Taylor
M J Taylor





REGISTERED OFFICE: 80 High Street
Worthing
West Sussex
BN11 1DJ





REGISTERED NUMBER: 11115040 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 162,021 172,960

CURRENT ASSETS
Stocks 4 9,500 8,826
Debtors 5 13,576 16,646
Cash at bank and in hand 65,245 83,990
88,321 109,462
CREDITORS
Amounts falling due within one year 6 61,547 71,640
NET CURRENT ASSETS 26,774 37,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,795

210,782

CREDITORS
Amounts falling due after more than one
year

7

(22,860

)

(32,015

)

PROVISIONS FOR LIABILITIES (3,205 ) (3,322 )
NET ASSETS 162,730 175,445

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 161,730 174,445
162,730 175,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by:




D Gearing - Director Ms M Gearing - Director




M J Taylor - Director T J Taylor - Director


TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and the rendering of services. Turnover is reduced from estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Leasehold - over the period of the lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 216,009 22,861 8,976 247,846
Additions - 8,023 440 8,463
At 28 February 2023 216,009 30,884 9,416 256,309
DEPRECIATION
At 1 March 2022 56,339 12,531 6,016 74,886
Charge for year 14,515 4,082 805 19,402
At 28 February 2023 70,854 16,613 6,821 94,288
NET BOOK VALUE
At 28 February 2023 145,155 14,271 2,595 162,021
At 28 February 2022 159,670 10,330 2,960 172,960

4. STOCKS
2023 2022
£    £   
Stocks 9,500 8,826

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,727 4,434
Amounts owed by associates 4,727 4,555
Other debtors 668 2,639
Prepayments 3,454 5,018
13,576 16,646

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,160 10,648
Trade creditors 26,769 30,648
Amounts owed to associates 192 472
Tax 6,880 16,946
Social security and other taxes 2,540 2,731
VAT 10,203 5,850
Other creditors 3,450 3,654
Accrued expenses 1,353 691
61,547 71,640

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,160 10,648
Bank loans - 2-5 years 12,700 21,367
22,860 32,015

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 28,000 28,000
Between one and five years 112,000 112,000
In more than five years 135,240 163,240
275,240 303,240

9. RELATED PARTY DISCLOSURES

As at 28 February 2023, Portland Freehouse Company Limited owed the company £4,781 (2022: 2,141). Of this balance, £2,328 is included within trade debtors and £2,274 within trade creditors. The balance is interest free and repayable on demand.

As at 28 February 2023, the company owed The Beach House Worthing Company Limited £1,926 (2022: £3,777). Of this balance, £1,734 is included within trade creditors. The balance is interest free and repayable on demand.

As at 28 February 2023, the company owed Our Eating House Limited £1,137 (2022: £1,178). Of this balance, £1,137 is included within trade creditors. The balance is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

This was by virtue of Mr D Gearing and Ms M Gearing's 51% holding of the issued share capital.