South Downs Marquees Limited 08178583 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is event catering activities. Digita Accounts Production Advanced 6.30.9574.0 true 08178583 2023-01-01 2023-12-31 08178583 2023-12-31 08178583 bus:OrdinaryShareClass1 2023-12-31 08178583 core:RetainedEarningsAccumulatedLosses 2023-12-31 08178583 core:ShareCapital 2023-12-31 08178583 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 08178583 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 08178583 core:CurrentFinancialInstruments 2023-12-31 08178583 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08178583 core:Non-currentFinancialInstruments 2023-12-31 08178583 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08178583 core:FurnitureFittingsToolsEquipment 2023-12-31 08178583 core:MotorVehicles 2023-12-31 08178583 bus:SmallEntities 2023-01-01 2023-12-31 08178583 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08178583 bus:FilletedAccounts 2023-01-01 2023-12-31 08178583 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08178583 bus:RegisteredOffice 2023-01-01 2023-12-31 08178583 bus:Director1 2023-01-01 2023-12-31 08178583 bus:Director2 2023-01-01 2023-12-31 08178583 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08178583 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08178583 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08178583 core:MotorVehicles 2023-01-01 2023-12-31 08178583 core:OfficeEquipment 2023-01-01 2023-12-31 08178583 core:PlantMachinery 2023-01-01 2023-12-31 08178583 countries:EnglandWales 2023-01-01 2023-12-31 08178583 2022-12-31 08178583 core:FurnitureFittingsToolsEquipment 2022-12-31 08178583 core:MotorVehicles 2022-12-31 08178583 2021-08-01 2022-12-31 08178583 2022-12-31 08178583 bus:OrdinaryShareClass1 2022-12-31 08178583 core:RetainedEarningsAccumulatedLosses 2022-12-31 08178583 core:ShareCapital 2022-12-31 08178583 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 08178583 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 08178583 core:CurrentFinancialInstruments 2022-12-31 08178583 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08178583 core:Non-currentFinancialInstruments 2022-12-31 08178583 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08178583 core:FurnitureFittingsToolsEquipment 2022-12-31 08178583 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08178583

South Downs Marquees Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

South Downs Marquees Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

South Downs Marquees Limited

Company Information

Directors

Mr J Williams

Mr I J Williams

Registered office

Riverground Stables
Cowdray Park
Midhurst
West Sussex
GU29 9AL

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

South Downs Marquees Limited

(Registration number: 08178583)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

102,443

106,383

Current assets

 

Debtors

5

6,377

17,828

Cash at bank and in hand

 

77,180

44,628

 

83,557

62,456

Creditors: Amounts falling due within one year

6

(137,111)

(130,277)

Net current liabilities

 

(53,554)

(67,821)

Total assets less current liabilities

 

48,889

38,562

Creditors: Amounts falling due after more than one year

6

(25,811)

(30,750)

Provisions for liabilities

(1,168)

-

Net assets

 

21,910

7,812

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

21,810

7,712

Shareholders' funds

 

21,910

7,812

 

South Downs Marquees Limited

(Registration number: 08178583)
Balance Sheet as at 31 December 2023

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 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 12 April 2024 and signed on its behalf by:
 

.........................................
Mr I J Williams
Director

 

South Downs Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Riverground Stables
Cowdray Park
Midhurst
West Sussex
GU29 9AL
England

These financial statements were authorised for issue by the Board on 12 April 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

Government grants

Government grants relating to revenue expenditure are recognised in income over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

 

South Downs Marquees Limited

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

Tax

The tax expense for the period comprises 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.

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

20% reducing balance basis

Office equipment

25% straight line basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

South Downs Marquees Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

South Downs Marquees Limited

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

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 11 (2022 - 10).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

155,639

81,455

237,094

Additions

12,447

13,098

25,545

At 31 December 2023

168,086

94,553

262,639

Depreciation

At 1 January 2023

89,675

41,036

130,711

Charge for the year

16,106

13,379

29,485

At 31 December 2023

105,781

54,415

160,196

Carrying amount

At 31 December 2023

62,305

40,138

102,443

At 31 December 2022

65,964

40,419

106,383

5

Debtors

Current

2023
£

2022
£

Prepayments

392

340

Other debtors

5,985

17,488

 

6,377

17,828

 

South Downs Marquees Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

6,736

-

Trade creditors

 

453

4,151

Taxation and social security

 

9,313

12,159

Accruals and deferred income

 

10,604

1,500

Other creditors

 

110,005

112,467

 

137,111

130,277

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

25,811

30,750

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

South Downs Marquees Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

21,750

30,750

Hire purchase contracts

4,061

-

25,811

30,750

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

6,736

-