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Company registration number: NI659992
SPOON STREET HOLDINGS LTD
Unaudited filleted financial statements
30 June 2023
SPOON STREET HOLDINGS LTD
Contents
Accountants' report
Statement of financial position
Notes to the financial statements
SPOON STREET HOLDINGS LTD
Report to the director on the preparation of the
unaudited statutory financial statements of SPOON STREET HOLDINGS LTD
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spoon Street Holdings Ltd for the year ended 30 June 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of Spoon Street Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Spoon Street Holdings Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spoon Street Holdings Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Spoon Street Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spoon Street Holdings Ltd. You consider that is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Spoon Street Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Shriver Price & Co.
Chartered Accountants
49 Downshire Road
Newry
Co. Down
BT34 1BA
29 November 2023
SPOON STREET HOLDINGS LTD
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 444,820 444,820
_______ _______
444,820 444,820
Current assets
Cash at bank and in hand 100 100
_______ _______
100 100
Creditors: amounts falling due
within one year 5 ( 50,825) ( 825)
_______ _______
Net current liabilities ( 50,725) ( 725)
_______ _______
Total assets less current liabilities 394,095 444,095
Creditors: amounts falling due
after more than one year 6 ( 100,895) ( 150,895)
_______ _______
Net assets 293,200 293,200
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 293,100 293,100
_______ _______
Shareholder funds 293,200 293,200
_______ _______
For the year ending 30 June 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Mr Justin Ward
Director
Company registration number: NI659992
SPOON STREET HOLDINGS LTD
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/O 49 Downshire Road, Newry, Co Down, BT34 1BA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a 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.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2022 and 30 June 2023 444,820 444,820
_______ _______
Impairment
At 1 July 2022 and 30 June 2023 - -
_______ _______
Carrying amount
At 30 June 2023 444,820 444,820
_______ _______
At 30 June 2022 444,820 444,820
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 50,825 825
_______ _______
6. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 100,895 150,895
_______ _______
7. Controlling party
The company is a 100% subsidiary of Ward Restaurants Group Ltd.