Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr D C Burcher-Lewis 10/01/2020 Mr D J Gough 05/01/2020 Mr Joseph John Hammond 19/02/2024 Mr R J Pascoe 05/01/2020 09 April 2024 The principal activity of the Company during the financial year was sandwich distribution and bakery business. 02998763 2023-12-31 02998763 bus:Director1 2023-12-31 02998763 bus:Director2 2023-12-31 02998763 bus:Director3 2023-12-31 02998763 bus:Director4 2023-12-31 02998763 2022-12-31 02998763 core:CurrentFinancialInstruments 2023-12-31 02998763 core:CurrentFinancialInstruments 2022-12-31 02998763 core:Non-currentFinancialInstruments 2023-12-31 02998763 core:Non-currentFinancialInstruments 2022-12-31 02998763 core:ShareCapital 2023-12-31 02998763 core:ShareCapital 2022-12-31 02998763 core:RetainedEarningsAccumulatedLosses 2023-12-31 02998763 core:RetainedEarningsAccumulatedLosses 2022-12-31 02998763 core:Goodwill 2022-12-31 02998763 core:Goodwill 2023-12-31 02998763 core:PlantMachinery 2022-12-31 02998763 core:Vehicles 2022-12-31 02998763 core:OfficeEquipment 2022-12-31 02998763 core:PlantMachinery 2023-12-31 02998763 core:Vehicles 2023-12-31 02998763 core:OfficeEquipment 2023-12-31 02998763 bus:OrdinaryShareClass1 2023-12-31 02998763 2023-01-01 2023-12-31 02998763 bus:FilletedAccounts 2023-01-01 2023-12-31 02998763 bus:SmallEntities 2023-01-01 2023-12-31 02998763 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02998763 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02998763 bus:Director1 2023-01-01 2023-12-31 02998763 bus:Director2 2023-01-01 2023-12-31 02998763 bus:Director3 2023-01-01 2023-12-31 02998763 bus:Director4 2023-01-01 2023-12-31 02998763 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 02998763 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 02998763 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 02998763 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 02998763 2022-01-01 2022-12-31 02998763 core:PlantMachinery 2023-01-01 2023-12-31 02998763 core:Vehicles 2023-01-01 2023-12-31 02998763 core:OfficeEquipment 2023-01-01 2023-12-31 02998763 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 02998763 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02998763 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 02998763 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02998763 (England and Wales)

SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

COMPANY INFORMATION

For the financial year ended 31 December 2023
SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr D C Burcher-Lewis
Mr D J Gough
Mr Joseph John Hammond
Mr R J Pascoe
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Unit 6 Simmons Place,
Kingsmill Industrial Estate,
Cullompton,
Devon,
EX151BH
COMPANY NUMBER 02998763 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

BALANCE SHEET

As at 31 December 2023
SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 24,141 29,127
24,141 29,127
Current assets
Stocks 5 11,795 16,849
Debtors 6 107,876 126,491
Cash at bank and in hand 74,416 81,355
194,087 224,695
Creditors: amounts falling due within one year 7 ( 90,189) ( 108,260)
Net current assets 103,898 116,435
Total assets less current liabilities 128,039 145,562
Creditors: amounts falling due after more than one year 8 ( 18,214) ( 28,271)
Provision for liabilities ( 4,400) ( 5,500)
Net assets 105,425 111,791
Capital and reserves
Called-up share capital 9 10,000 10,000
Profit and loss account 95,425 101,791
Total shareholder's funds 105,425 111,791

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

Directors' responsibilities:

The financial statements of Southwest Sandwich Company Ltd (formerly known as Renown Leisure Limited) (registered number: 02998763) were approved and authorised for issue by the Board of Directors on 09 April 2024. They were signed on its behalf by:

Mr D J Gough
Director
SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SOUTHWEST SANDWICH COMPANY LTD (FORMERLY KNOWN AS RENOWN LEISURE LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Southwest Sandwich Company Ltd (formerly known as Renown Leisure Limited) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Unit 6 Simmons Place, Kingsmill Industrial Estate, Cullompton, Devon, EX151BH.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amount chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value and is ordered on a just in time basis.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 84,062 84,062
At 31 December 2023 84,062 84,062
Accumulated amortisation
At 01 January 2023 84,062 84,062
At 31 December 2023 84,062 84,062
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2023 222,534 88,021 15,876 326,431
Additions 4,485 0 1,509 5,994
Disposals 0 ( 9,200) 0 ( 9,200)
At 31 December 2023 227,019 78,821 17,385 323,225
Accumulated depreciation
At 01 January 2023 200,008 82,899 14,397 297,304
Charge for the financial year 8,048 2,167 765 10,980
Disposals 0 ( 9,200) 0 ( 9,200)
At 31 December 2023 208,056 75,866 15,162 299,084
Net book value
At 31 December 2023 18,963 2,955 2,223 24,141
At 31 December 2022 22,526 5,122 1,479 29,127

5. Stocks

2023 2022
£ £
Stocks 11,795 16,849

6. Debtors

2023 2022
£ £
Trade debtors 71,994 69,301
Amounts owed by Group undertakings 0 20,883
Prepayments 8,511 9,164
VAT recoverable 11,745 12,899
Other debtors 15,626 14,244
107,876 126,491

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,056 9,809
Trade creditors 26,470 23,998
Amounts owed to Group undertakings 4,064 0
Accruals 22,989 22,221
Taxation and social security 12,457 15,645
Other creditors 14,153 36,587
90,189 108,260

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 18,214 28,271

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

10. Ultimate controlling party

Parent Company:

Dragonrose Holdings Limited
2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS

Following the year end, the ultimate controlling party changed from Dragonrose Holdings Limited to Sw Food Group Ltd on 12 February 2024.