0 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 14,690 10,800 1,000 11,800 2,890 3,890 xbrli:pure xbrli:shares iso4217:GBP NI631645 2022-07-01 2023-06-30 NI631645 2023-06-30 NI631645 2022-06-30 NI631645 2022-06-30 NI631645 bus:Director3 2022-07-01 2023-06-30 NI631645 core:PlantMachinery 2022-06-30 NI631645 core:PlantMachinery 2023-06-30 NI631645 core:WithinOneYear 2023-06-30 NI631645 core:WithinOneYear 2022-06-30 NI631645 core:ShareCapital 2023-06-30 NI631645 core:ShareCapital 2022-06-30 NI631645 core:RetainedEarningsAccumulatedLosses 2023-06-30 NI631645 core:RetainedEarningsAccumulatedLosses 2022-06-30 NI631645 core:PlantMachinery 2022-07-01 2023-06-30 NI631645 core:PlantMachinery 2022-06-30 NI631645 bus:Director1 2022-07-01 2023-06-30 NI631645 bus:SmallEntities 2022-07-01 2023-06-30 NI631645 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 NI631645 bus:FullAccounts 2022-07-01 2023-06-30 NI631645 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 NI631645 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: NI631645
Parklands Cafe Ltd
Filleted Unaudited Financial Statements
30 June 2023
Parklands Cafe Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,890
3,890
Current assets
Stocks
9,943
5,965
Debtors
6
6,512
Cash at bank and in hand
59,787
92,052
--------
--------
76,242
98,017
Creditors: amounts falling due within one year
7
38,144
51,636
--------
--------
Net current assets
38,098
46,381
--------
--------
Total assets less current liabilities
40,988
50,271
--------
--------
Net assets
40,988
50,271
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
40,888
50,171
--------
--------
Shareholders funds
40,988
50,271
--------
--------
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 statement of income and retained earnings has not been delivered.
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 members have 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Parklands Cafe Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr G Orchin
Director
Company registration number: NI631645
Parklands Cafe 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 2-4 Main Street, Bangor, BT20 5AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 July 2022 and 30 June 2023
14,690
14,690
--------
--------
Depreciation
At 1 July 2022
10,800
10,800
Charge for the year
1,000
1,000
--------
--------
At 30 June 2023
11,800
11,800
--------
--------
Carrying amount
At 30 June 2023
2,890
2,890
--------
--------
At 30 June 2022
3,890
3,890
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
1,012
Other debtors
5,500
-------
----
6,512
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
18,893
12,478
Corporation tax
985
7,525
Social security and other taxes
12,644
14,209
Other creditors
5,622
17,424
--------
--------
38,144
51,636
--------
--------
8. Related party transactions
The company was under the control of Mr Magennis throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.