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Registered Number: 07491523


 

 

 

NEW NORTHGATE RESTAURANT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 13,965    11,489 
13,965    11,489 
Current assets      
Stocks 4 2,220    2,060 
Cash at bank and in hand 200,054    191,905 
202,274    193,965 
Creditors: amount falling due within one year 5 (34,074)   (52,361)
Net current assets 168,200    141,604 
 
Total assets less current liabilities 182,165    153,093 
Accruals and deferred income   1 
Net assets 182,165    153,094 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 182,164    153,093 
Shareholder's funds 182,165    153,094 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 November 2023 and were signed by:


-------------------------------
Mr Jalshad Ali
Director
1
General Information
NEW NORTHGATE RESTAURANT LIMITED is a private company, limited by shares, registered in , registration number 07491523, registration address 8-9 NORTHGATE PRECINCT, HUNSTANTON NORFOLK, PE36 6EA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 8).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 March 2022 24,115    2,200    26,315 
Additions 4,500      4,500 
Disposals    
At 28 February 2023 28,615    2,200    30,815 
Depreciation
At 01 March 2022 13,059    1,767    14,826 
Charge for year 1,959    65    2,024 
On disposals    
At 28 February 2023 15,018    1,832    16,850 
Net book values
Closing balance as at 28 February 2023 13,597    368    13,965 
Opening balance as at 01 March 2022 11,056    433    11,489 


4.

Stocks

2023
£
  2022
£
Stocks 2,220    2,060 
2,220    2,060 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 5,553    11,054 
Corporation Tax 15,239    30,528 
PAYE & Social Security   318 
Accrued Expenses 1,300    2,950 
VAT 11,982    7,511 
34,074    52,361 

2