2022-04-012023-03-312023-03-31false12128337CASTAWAYS TEA SHOP 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CASTAWAYS TEA SHOP LIMITED

Registered Number
12128337
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

CASTAWAYS TEA SHOP LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

BARTLETT, E V
BARTLETT, S L
BARTLETT, S A

Registered Address

32 Collywell Bay Road
Seaton Sluice
Whitley Bay
NE26 4QZ

Registered Number

12128337 (England and Wales)
CASTAWAYS TEA SHOP LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5130650
Tangible assets679,47194,189
79,60194,839
Current assets
Stocks84,4974,497
Debtors922,03323,109
Cash at bank and on hand10,8064,222
37,33631,828
Creditors amounts falling due within one year10(149,711)(144,897)
Net current assets (liabilities)(112,375)(113,069)
Total assets less current liabilities(32,774)(18,230)
Creditors amounts falling due after one year11(11,531)(18,411)
Provisions for liabilities12(2,895)(6,370)
Net assets(47,200)(43,011)
Capital and reserves
Called up share capital1010
Profit and loss account(47,210)(43,021)
Shareholders' funds(47,200)(43,011)
The financial statements were approved and authorised for issue by the Board of Directors on 10 October 2023, and are signed on its behalf by:
BARTLETT, E V
Director
Registered Company No. 12128337
CASTAWAYS TEA SHOP LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
These financial statements were prepared in accordance with the provisions of FRS 102 Section 1A - small entities applicable in the UK and Republic of Ireland. There were no material departures from that standard.
3.Accounting policies
Property, plant and equipment policy
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Reducing balance (%)Straight line (years)
Fixtures and fittings20-
Office Equipment-33
Intangible assets policy
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset Class - Other intangible assets Amortisation method and rate - 3 years straight line
Stocks policy
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Revenue recognition policy
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the companys activities.
Deferred tax policy
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4.Employee information

20232022
Average number of employees during the year133
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 221,5601,560
At 31 March 231,5601,560
Amortisation and impairment
At 01 April 22910910
Charge for year520520
At 31 March 231,4301,430
Net book value
At 31 March 23130130
At 31 March 22650650
6.Property, plant and equipment

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2250,78975,373642126,804
Additions-535-535
At 31 March 2350,78975,908642127,339
Depreciation and impairment
At 01 April 22-32,08852732,615
Charge for year-15,13811515,253
At 31 March 23-47,22664247,868
Net book value
At 31 March 2350,78928,682-79,471
At 31 March 2250,78943,28511594,189
7.Description of nature of transactions and balances with related parties
As at 31st March 2022 the following related party receivable transactions remain outstanding: - Formicity Property Limited - £5,602.93 - Hotspurcraft Limited - £13,205.48
8.Stocks

2023

2022

££
Raw materials and consumables4,4974,497
Total4,4974,497
9.Debtors

2023

2022

££
Trade debtors / trade receivables18,80818,808
Other debtors-1,075
Prepayments and accrued income3,2253,226
Total22,03323,109
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables6,1775,596
Taxation and social security8,16011,310
Other creditors135,126127,991
Accrued liabilities and deferred income248-
Total149,711144,897
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts11,53118,411
Total11,53118,411
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,8956,370
Total2,8956,370