Gazeley's Delicatessen Ltd SC431919 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is delicatessen Digita Accounts Production Advanced 6.30.9574.0 true true SC431919 2021-04-01 2022-03-31 SC431919 2022-03-31 SC431919 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC431919 core:ShareCapital 2022-03-31 SC431919 core:CurrentFinancialInstruments 2022-03-31 SC431919 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 SC431919 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 SC431919 core:Goodwill 2022-03-31 SC431919 core:FurnitureFittingsToolsEquipment 2022-03-31 SC431919 core:MotorVehicles 2022-03-31 SC431919 bus:SmallEntities 2021-04-01 2022-03-31 SC431919 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 SC431919 bus:FullAccounts 2021-04-01 2022-03-31 SC431919 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 SC431919 bus:RegisteredOffice 2021-04-01 2022-03-31 SC431919 bus:Director1 2021-04-01 2022-03-31 SC431919 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 SC431919 core:Goodwill 2021-04-01 2022-03-31 SC431919 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 SC431919 core:MotorVehicles 2021-04-01 2022-03-31 SC431919 core:OfficeEquipment 2021-04-01 2022-03-31 SC431919 countries:Scotland 2021-04-01 2022-03-31 SC431919 2021-03-31 SC431919 core:Goodwill 2021-03-31 SC431919 core:FurnitureFittingsToolsEquipment 2021-03-31 SC431919 core:MotorVehicles 2021-03-31 SC431919 2020-04-01 2021-03-31 SC431919 2021-03-31 SC431919 core:RetainedEarningsAccumulatedLosses 2021-03-31 SC431919 core:ShareCapital 2021-03-31 SC431919 core:CurrentFinancialInstruments 2021-03-31 SC431919 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 SC431919 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 SC431919 core:FurnitureFittingsToolsEquipment 2021-03-31 SC431919 core:MotorVehicles 2021-03-31 iso4217:GBP xbrli:pure

Registration number: SC431919

Gazeley's Delicatessen Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Gazeley's Delicatessen Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Gazeley's Delicatessen Ltd

(Registration number: SC431919)
Statement of Financial Position as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

2,241

2,679

Current assets

 

Stocks

6

3,000

200

Debtors

7

1,474

-

Cash at bank and in hand

 

11,652

2,988

 

16,126

3,188

Creditors: Amounts falling due within one year

8

(103,975)

(94,069)

Net current liabilities

 

(87,849)

(90,881)

Total assets less current liabilities

 

(85,608)

(88,202)

Creditors: Amounts falling due after more than one year

8

(42,014)

(50,000)

Net liabilities

 

(127,622)

(138,202)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(127,623)

(138,203)

Shareholders' deficit

 

(127,622)

(138,202)

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

The Director acknowledges his 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 Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 20 February 2024
 

 

Gazeley's Delicatessen Ltd

(Registration number: SC431919)
Statement of Financial Position as at 31 March 2022

.........................................
Mr MJ Gazeley
Director

 

Gazeley's Delicatessen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
41 Kirkconnel Terrace
Dundee
DD4 0JF

2

Accounting policies

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicles

25% reducing balance

 

Gazeley's Delicatessen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Equipment

15% 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% straight line

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 8 (2021 - 10).

 

Gazeley's Delicatessen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

40,000

40,000

At 31 March 2022

40,000

40,000

Amortisation

At 1 April 2021

40,000

40,000

At 31 March 2022

40,000

40,000

Carrying amount

At 31 March 2022

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

8,507

3,250

11,757

At 31 March 2022

8,507

3,250

11,757

Depreciation

At 1 April 2021

6,189

2,889

9,078

Charge for the year

348

90

438

At 31 March 2022

6,537

2,979

9,516

Carrying amount

At 31 March 2022

1,970

271

2,241

At 31 March 2021

2,318

361

2,679

6

Stocks

2022
£

2021
£

Other inventories

3,000

200

 

Gazeley's Delicatessen Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Debtors

Current

2022
£

2021
£

Other debtors

1,474

-

 

1,474

-

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

3,031

473

Taxation and social security

8,920

8,353

Accruals and deferred income

10,000

11,651

Other creditors

82,024

73,592

103,975

94,069

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

42,014

50,000