Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr A Hartman 22/04/2021 Mrs J Kukla-Hartman 22/04/2021 17 October 2023 The principal activity of the Company during the financial period was the operation of a restaurant and the provision of catering services. SC696622 2023-04-30 SC696622 bus:Director1 2023-04-30 SC696622 bus:Director2 2023-04-30 SC696622 2022-04-30 SC696622 core:CurrentFinancialInstruments 2023-04-30 SC696622 core:CurrentFinancialInstruments 2022-04-30 SC696622 core:Non-currentFinancialInstruments 2023-04-30 SC696622 core:Non-currentFinancialInstruments 2022-04-30 SC696622 core:ShareCapital 2023-04-30 SC696622 core:ShareCapital 2022-04-30 SC696622 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC696622 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC696622 core:LandBuildings 2022-04-30 SC696622 core:LeaseholdImprovements 2022-04-30 SC696622 core:PlantMachinery 2022-04-30 SC696622 core:ComputerEquipment 2022-04-30 SC696622 core:LandBuildings 2023-04-30 SC696622 core:LeaseholdImprovements 2023-04-30 SC696622 core:PlantMachinery 2023-04-30 SC696622 core:ComputerEquipment 2023-04-30 SC696622 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2023-04-30 SC696622 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2022-04-30 SC696622 bus:OrdinaryShareClass1 2023-04-30 SC696622 core:WithinOneYear 2023-04-30 SC696622 core:WithinOneYear 2022-04-30 SC696622 core:BetweenOneFiveYears 2023-04-30 SC696622 core:BetweenOneFiveYears 2022-04-30 SC696622 core:MoreThanFiveYears 2023-04-30 SC696622 core:MoreThanFiveYears 2022-04-30 SC696622 core:OtherRelatedParties 2023-04-30 SC696622 core:OtherRelatedParties 2022-04-30 SC696622 core:KeyManagementPersonnel 2023-04-30 SC696622 core:KeyManagementPersonnel 2022-04-30 SC696622 2022-05-01 2023-04-30 SC696622 bus:FullAccounts 2022-05-01 2023-04-30 SC696622 bus:SmallEntities 2022-05-01 2023-04-30 SC696622 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC696622 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC696622 bus:Director1 2022-05-01 2023-04-30 SC696622 bus:Director2 2022-05-01 2023-04-30 SC696622 core:LandBuildings 2022-05-01 2023-04-30 SC696622 core:LeaseholdImprovements 2022-05-01 2023-04-30 SC696622 core:PlantMachinery core:TopRangeValue 2022-05-01 2023-04-30 SC696622 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 SC696622 2021-04-22 2022-04-30 SC696622 core:PlantMachinery 2022-05-01 2023-04-30 SC696622 core:ComputerEquipment 2022-05-01 2023-04-30 SC696622 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 SC696622 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 SC696622 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC696622 bus:OrdinaryShareClass1 2021-04-22 2022-04-30 SC696622 core:KeyManagementPersonnel 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC696622 (Scotland)

SEASON QUAYSIDE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

SEASON QUAYSIDE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

SEASON QUAYSIDE LTD

BALANCE SHEET

AS AT 30 APRIL 2023
SEASON QUAYSIDE LTD

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 30.04.2023 30.04.2022
£ £
Fixed assets
Tangible assets 3 124,027 126,327
124,027 126,327
Current assets
Stocks 4 6,000 5,500
Debtors
- due within one year 5 18,805 13,673
- due after more than one year 5 17,500 8,750
Cash at bank and in hand 6 16,451 14,329
58,756 42,252
Creditors: amounts falling due within one year 7 ( 86,936) ( 49,639)
Net current liabilities (28,180) (7,387)
Total assets less current liabilities 95,847 118,940
Creditors: amounts falling due after more than one year 8 ( 186,896) ( 222,254)
Net liabilities ( 91,049) ( 103,314)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 91,149 ) ( 103,414 )
Total shareholders' deficit ( 91,049) ( 103,314)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Season Quayside Ltd (registered number: SC696622) were approved and authorised for issue by the Director on 17 October 2023. They were signed on its behalf by:

Mr A Hartman
Director
Mrs J Kukla-Hartman
Director
SEASON QUAYSIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
SEASON QUAYSIDE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Season Quayside Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £91,049. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements have been prepared for the year to 30 April 2023. The comparative financial statements were prepared for the the period from 22 April 2021 to 30 April 2022. As such, the two periods are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 2 % reducing balance
Leasehold improvements 25 % reducing balance
Plant and machinery 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

Year ended
30.04.2023
Period from
22.04.2021 to
30.04.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 5

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2022 72,725 21,738 37,897 7,294 139,654
Additions 0 4,958 542 12,154 17,654
At 30 April 2023 72,725 26,696 38,439 19,448 157,308
Accumulated depreciation
At 01 May 2022 1,324 4,146 6,178 1,679 13,327
Charge for the financial year 1,428 4,877 7,603 6,046 19,954
At 30 April 2023 2,752 9,023 13,781 7,725 33,281
Net book value
At 30 April 2023 69,973 17,673 24,658 11,723 124,027
At 30 April 2022 71,401 17,592 31,719 5,615 126,327

4. Stocks

30.04.2023 30.04.2022
£ £
Stocks 6,000 5,500

5. Debtors

30.04.2023 30.04.2022
£ £
Debtors: amounts falling due within one year
Trade debtors 11,094 0
Other debtors 7,711 13,673
18,805 13,673
Debtors: amounts falling due after more than one year
Other debtors 17,500 8,750

6. Cash and cash equivalents

30.04.2023 30.04.2022
£ £
Cash at bank and in hand 16,451 14,329

7. Creditors: amounts falling due within one year

30.04.2023 30.04.2022
£ £
Trade creditors 11,519 15,864
Other taxation and social security 4,876 1,113
Obligations under finance leases and hire purchase contracts 9,483 5,669
Other creditors 61,058 26,993
86,936 49,639

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

8. Creditors: amounts falling due after more than one year

30.04.2023 30.04.2022
£ £
Amounts owed to related parties (note 11) 47,770 78,770
Obligations under finance leases and hire purchase contracts 17,052 18,425
Other creditors 122,074 125,059
186,896 222,254

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

9. Called-up share capital

30.04.2023 30.04.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

30.04.2023 30.04.2022
£ £
within one year 32,500 32,500
between one and five years 137,500 167,500
after five years 349,321 361,732
519,321 561,732

11. Related party transactions

Transactions with related parties or connected persons

Amounts owed to related parties

30.04.2023 30.04.2022
£ £
Amounts Owed to Related Parties 47,770 78,770

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

30.04.2023 30.04.2022
£ £
Directors' loan 122,074 125,059

The loan is unsecured, interest free and repayment will not be sought within 12 months of the Balance Sheet Date.