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REGISTERED NUMBER: 08393584 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WAVECREST CAFE LIMITED

WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WAVECREST CAFE LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: Ms J Griffiths
Mr B P Finnegan
Mrs S A Griffiths
Miss E Griffiths





SECRETARY:





REGISTERED OFFICE: 20 Finch Close
Pembroke Dock
Pembrokeshire
SA72 6QQ





REGISTERED NUMBER: 08393584 (England and Wales)





ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB

WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)

STATEMENT OF FINANCIAL POSITION
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 48,755 26,313

CURRENT ASSETS
Inventories 1,000 1,000
Debtors 5 15,767 856
Cash at bank and in hand 21,622 76,173
38,389 78,029
CREDITORS
Amounts falling due within one year 6 31,752 34,046
NET CURRENT ASSETS 6,637 43,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,392

70,296

CREDITORS
Amounts falling due after more than one
year

7

(22,543

)

(32,563

)

PROVISIONS FOR LIABILITIES (9,263 ) (4,999 )
NET ASSETS 23,586 32,734

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 23,486 32,634
23,586 32,734

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.

WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)

STATEMENT OF FINANCIAL POSITION - 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 3 October 2023 and were signed on its behalf by:





Mrs S A Griffiths - Director


WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Wavecrest Cafe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The director is unaware of any material uncertainties in making his assessment of going concern. As a result of this, the going concern basis of accounting has been adopted.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Property, plant and equipment is measured at cost less accumulated depreciation and any accumulated impairment losses.

Inventories
Inventories 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 statement of financial position date.

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.

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.

WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

Income recognition
The company's turnover represents the supply of restaurant services. The company recognises income at the point of sale.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 28,354 35,384 - 1,564 65,302
Additions 9,140 532 24,000 - 33,672
At 28 February 2023 37,494 35,916 24,000 1,564 98,974
DEPRECIATION
At 1 March 2022 17,720 20,278 - 991 38,989
Charge for year 4,016 2,300 4,800 114 11,230
At 28 February 2023 21,736 22,578 4,800 1,105 50,219
NET BOOK VALUE
At 28 February 2023 15,758 13,338 19,200 459 48,755
At 28 February 2022 10,634 15,106 - 573 26,313

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,767 856

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,019 10,019
Trade creditors 6,918 3,347
Taxation and social security 10,429 16,408
Other creditors 4,386 4,272
31,752 34,046

WAVECREST CAFE LIMITED (REGISTERED NUMBER: 08393584)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,543 32,563

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Ms J Griffiths and Mrs S A Griffiths
Balance outstanding at start of year (156 ) (745 )
Amounts advanced 14,866 50,089
Amounts repaid - (49,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,710 (156 )