Registered number
NI621887
Salleys Restaurant Ltd
Report and Financial Statements for year ended
30 November 2023
Salleys Restaurant Ltd
Company Information
Directors
Deborah Dodds
Accountants
Tyrone Accountancy Services
8-10 Church Street
Omagh
Co. Tyrone
BT78 1DG
Registered office
90 Moore Street
Aughnacloy
Co Tyrone
BT69 6AY
Registered number
NI621887
Salleys Restaurant Ltd
Registered number: NI621887
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,992 12,391
Current assets
Stocks 35,000 10,000
Debtors 4 17,139 11,726
Cash at bank and in hand 471 183
52,610 21,909
Creditors: amounts falling due within one year 5 (93,585) (56,230)
Net current liabilities (40,975) (34,321)
Total assets less current liabilities (28,983) (21,930)
Creditors: amounts falling due after more than one year 6 (37,782) (38,500)
Net liabilities (66,765) (60,430)
Capital and reserves
Called up, issued and fully paid share capital 100 100
Profit and loss account (66,865) (60,530)
Shareholders' funds 9 (66,765) (60,430)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006.
The notes on pages 6 to 9 form an integral part of the accounts.
Deborah Dodds
Director
Approved by the board on 2 April 2024
Salleys Restaurant Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are presented in UK Sterling pounds (£)
Going concern
In carrying out their duties in respect of going concern, the director has carried out a review of the company's financial position and cash flow forecast for a period of 12 months from the date of signing these financial statements. These have been a comprehensive review of revenue, expenditure and cash flows, taking into consideration business risks and uncertainties brought about by the current economic environment.

Having taken all of the above factors into consideration, the director has reached the conclusion that the company will continue to meet its day-to-day working capital requirements and continue to adapt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Government grants
Grants are recognised using the accruals basis. Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the profit and loss account in the period in which they become receivable.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 47 49
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 64,573
Additions 3,600
At 30 November 2023 68,173
Depreciation
At 1 December 2022 52,182
Charge for the year 3,999
At 30 November 2023 56,181
Net book value
At 30 November 2023 11,992
At 30 November 2022 12,391
4 Debtors 2023 2022
£ £
Deferred tax asset 12,573 11,087
Other debtors 4,566 639
17,139 11,726
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 19,704 -
Trade creditors 32,260 14,779
Taxes and social security costs 6,996 6,828
Other creditors 34,625 34,623
93,585 56,230
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 37,782 38,500
7 Provision for liabilities
Deferred Taxation
£
At 1 December 2022 (11,087)
Charged to the profit and loss (1,486)
At 30 November 2023 (12,573)
The provision for deferred taxation is made up as follows:
2023 2022
£ £
Accelerated capital allowances 1,486 2,218
1,486 2,218
8 Directors' advances, credits and guarantees
During the year the director advanced £10,000 and the company repaid £10,000 leaving a balance owed to the director at the year end of £32,123.
The balances are interest free and repayable on demand.
9 Statement of changes in equity
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments.
10 Other information
Salleys Restaurant Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
90 Moore Street
Aughnacloy
Co Tyrone
BT69 6AY
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