Registered number
05411407
White Hart Restaurants Limited
Filleted Accounts
30 June 2023
White Hart Restaurants Limited
Registered number: 05411407
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 4,125 6,375
Tangible assets 4 1,456,457 1,470,967
1,460,582 1,477,342
Current assets
Stocks 15,600 14,200
Debtors 5 88,870 158,442
Cash at bank and in hand 642,042 754,616
746,512 927,258
Creditors: amounts falling due within one year 6 (357,265) (623,477)
Net current assets 389,247 303,781
Total assets less current liabilities 1,849,829 1,781,123
Creditors: amounts falling due after more than one year 7 (747,222) (706,100)
Provisions for liabilities - -
Net assets 1,102,607 1,075,023
Capital and reserves
Called up share capital 100 100
Share premium - -
Revaluation reserve 8 449,352 449,352
Profit and loss account 653,155 625,571
Shareholders' funds 1,102,607 1,075,023
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.
M J W Mason
Director
Approved by the board on 13 March 2024
White Hart Restaurants Limited
Notes to the Accounts
for the year ended 30 June 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 (as applied to small entities by section 1A of the standard).
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Land and Freehold buildings over 50 years
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 (ie 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £ £
Goodwill:
Cost
At 1 July 2022 45,000 45,000
Additions - -
Disposals - -
At 30 June 2023 45,000 45,000
Amortisation
At 1 July 2022 38,625 38,625
Provided during the year 2,250 2,250
On disposals - -
At 30 June 2023 40,875 40,875
Net book value
At 30 June 2023 4,125 4,125
At 30 June 2022 6,375 6,375
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total Total
£ £ £ £ £
Cost
At 1 July 2022 1,857,293 385,988 - 2,243,281 2,243,281
Additions - 30,527 - 30,527 30,527
Surplus on revaluation - - - - -
Disposals - - - - -
At 30 June 2023 1,857,293 416,515 - 2,273,808 2,273,808
Depreciation
At 1 July 2022 387,365 384,949 - 772,314 772,314
Charge for the year 37,146 7,891 - 45,037 45,037
Surplus on revaluation - - - - -
On disposals - - - - -
At 30 June 2023 424,511 392,840 - 817,351 817,351
Net book value
At 30 June 2023 1,432,782 23,675 - 1,456,457 1,456,457
At 30 June 2022 1,469,928 1,039 - 1,470,967 1,470,967
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
5 Debtors 2023 2022
£ £
Trade debtors 88,870 158,442
Other debtors - -
88,870 158,442
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 37,635 78,414
Taxation and social security costs 78,323 148,105
Other creditors 241,307 396,958
357,265 623,477
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 735,624 850,941
Amounts owed to group undertakings and undertakings in which the company has a participating interest 11,598 (144,841)
Other creditors - -
747,222 706,100
8 Revaluation reserve 2023 2022
£ £
At 1 July 2022 449,352 449,352
Gain on revaluation of land and buildings - -
Deferred taxation arising on the revaluation of land and buildings - -
At 30 June 2023 449,352 449,352
10 Controlling party
The ultimate controlling party is Mr Matthew Mason by virtue of him holding 100 % shares in the company.
11 Other information
White Hart Restaurants Limited is a private company limited by shares and incorporated in England. Its registered office is:
317 Horn Lane
Acton
London W3 0BU
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