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Registration number: 13558118

Thevot Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Thevot Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Thevot Ltd

(Registration number: 13558118)
Statement of Financial Position as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

119,212

61,856

Current assets

 

Stocks

5

6,500

-

Debtors

6

8,313

16,234

Cash at bank and in hand

 

60,371

21,751

 

75,184

37,985

Creditors: Amounts falling due within one year

7

(159,263)

(117,505)

Net current liabilities

 

(84,079)

(79,520)

Total assets less current liabilities

 

35,133

(17,664)

Creditors: Amounts falling due after more than one year

7

(9,768)

-

Net assets/(liabilities)

 

25,365

(17,664)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

25,363

(17,666)

Shareholders' funds/(deficit)

 

25,365

(17,664)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 8 February 2024
 

 

Thevot Ltd

(Registration number: 13558118)
Statement of Financial Position as at 31 August 2023 (continued)


W A Kressinger-Dunn
Director

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Cremyll Street
Plymouth
PL1 3RB

Principal activity

The principal activity of the company is that of a public house.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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 company's activities.

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less it's residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Fitting fixtures and equipment

20% reducing balance

Property improvements

2% straight line

Computer equipment

20% straight line

Plant and machinery

20% straight line

Motor vehicles

10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 1).

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

4

Tangible assets

Property improvements
£

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

49,374

16,836

-

-

-

66,210

Additions

33,357

6,832

1,232

4,128

23,162

68,711

Disposals

(2,703)

-

-

-

-

(2,703)

At 31 August 2023

80,028

23,668

1,232

4,128

23,162

132,218

Depreciation

At 1 September 2022

987

3,367

-

-

-

4,354

Charge for the year

1,601

4,060

150

543

2,316

8,670

Eliminated on disposal

(18)

-

-

-

-

(18)

At 31 August 2023

2,570

7,427

150

543

2,316

13,006

Carrying amount

At 31 August 2023

77,458

16,241

1,082

3,585

20,846

119,212

At 31 August 2022

48,387

13,469

-

-

-

61,856

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

5

Stocks

2023
£

2022
£

Stock

6,500

-

6

Debtors

Note

2023
£

2022
£

Other debtors

 

2

16,234

Prepayments

 

3,116

-

Deferred tax assets

5,195

-

 

8,313

16,234

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

2,859

-

Trade creditors

 

16,314

21,441

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

69,555

62,184

Taxation and social security

 

9,501

-

Accruals and deferred income

 

3,750

3,504

Other creditors

 

57,284

30,376

 

159,263

117,505

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9,768

-

 

Thevot Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with the director

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Director

(30,308)

13,972

(31,733)

(48,070)

         
       

 

2022

At 10 August 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Director

-

(33,532)

3,224

(30,308)

         
       

 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

(62,184)

(62,184)

Advanced

(7,370)

(7,370)

At end of period

(69,554)

(69,554)

2022

Other related parties
£

Total
£

Advanced

(62,184)

(62,184)

At end of period

(62,184)

(62,184)

Medix-Care UK Ltd and Medix-Care UK SASS are entities under common control to that of the reporting entity.