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Registration number: 04833243

The Buttery Sandwich Bar And Deli Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

The Buttery Sandwich Bar And Deli Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Buttery Sandwich Bar And Deli Ltd

Company Information

Directors

Mrs J Lawrenson

Mr D Lawrenson

Registered office

332 Millfield Lane
Haydock
St. Helens
WA11 9TB

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

The Buttery Sandwich Bar And Deli Ltd

(Registration number: 04833243)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

224,324

39,875

Current assets

 

Stocks

6

5,150

5,150

Debtors

7

19,729

35,251

Cash at bank and in hand

 

42,767

18,722

 

67,646

59,123

Creditors: Amounts falling due within one year

8

(132,721)

(28,131)

Net current (liabilities)/assets

 

(65,075)

30,992

Total assets less current liabilities

 

159,249

70,867

Creditors: Amounts falling due after more than one year

8

(129,229)

-

Provisions for liabilities

(6,036)

(6,467)

Net assets

 

23,984

64,400

Capital and reserves

 

Called up share capital

100

100

Retained earnings

23,884

64,300

Shareholders' funds

 

23,984

64,400

 

The Buttery Sandwich Bar And Deli Ltd

(Registration number: 04833243)
Balance Sheet as at 31 July 2023

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2024 and signed on its behalf by:
 

.........................................
Mrs J Lawrenson
Director

   
     
 

The Buttery Sandwich Bar And Deli Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
332 Millfield Lane
Haydock
St. Helens
WA11 9TB

These financial statements were authorised for issue by the Board on 28 February 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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 company's activities.

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Buttery Sandwich Bar And Deli Ltd

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

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 balance sheet 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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Buildings

10% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

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

Amortisation method and rate

Goodwill

20% On cost

Stocks

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.

 

The Buttery Sandwich Bar And Deli Ltd

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

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 profit and loss account 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2022 - 36).

 

The Buttery Sandwich Bar And Deli Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

97,000

97,000

At 31 July 2023

97,000

97,000

Amortisation

At 1 August 2022

97,000

97,000

At 31 July 2023

97,000

97,000

Carrying amount

At 31 July 2023

-

-

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2022

-

7,161

222,945

230,106

Additions

213,274

-

3,294

216,568

At 31 July 2023

213,274

7,161

226,239

446,674

Depreciation

At 1 August 2022

-

5,940

184,291

190,231

Charge for the year

21,327

305

10,487

32,119

At 31 July 2023

21,327

6,245

194,778

222,350

Carrying amount

At 31 July 2023

191,947

916

31,461

224,324

At 31 July 2022

-

1,221

38,654

39,875

Included within the net book value of land and buildings above is £191,947 (2022 - £Nil) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Raw materials and consumables

5,150

5,150

 

The Buttery Sandwich Bar And Deli Ltd

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

7

Debtors

2023
£

2022
£

Trade debtors

6,470

-

Prepayments

2,509

6,596

Other debtors

10,750

28,655

19,729

35,251

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

16,631

-

Trade creditors

 

41,791

15,804

Taxation and social security

 

24,350

3,111

Other creditors

 

49,949

9,216

 

132,721

28,131

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

129,229

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

16,631

-