Registered number
09285393
Gastro Taverns Limited
Filleted Accounts
31 October 2023
Gastro Taverns Limited
Registered number: 09285393
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 28,539 34,157
Tangible assets 4 35,416 34,412
63,955 68,569
Current assets
Stocks 24,993 24,098
Debtors 5 1,010,915 789,457
Cash at bank and in hand 28,940 16,665
1,064,848 830,220
Creditors: amounts falling due within one year 6 (1,029,561) (838,983)
Net current assets/(liabilities) 35,287 (8,763)
Total assets less current liabilities 99,242 59,806
Creditors: amounts falling due after more than one year 7 (2,881,388) (2,718,728)
Net liabilities (2,782,146) (2,658,922)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,782,246) (2,659,022)
Shareholders' funds (2,782,146) (2,658,922)
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.
D Godwin
Director
Approved by the board on 24 July 2023
Gastro Taverns Limited
Notes to the Accounts
for the year ended 31 October 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 21
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 112,366
At 31 October 2023 112,366
Amortisation
At 1 November 2022 78,209
Provided during the year 5,618
At 31 October 2023 83,827
Net book value
At 31 October 2023 28,539
At 31 October 2022 34,157
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 118,618 2,100 120,718
Additions 7,250 - 7,250
At 31 October 2023 125,868 2,100 127,968
Depreciation
At 1 November 2022 84,206 2,100 86,306
Charge for the year 6,246 - 6,246
At 31 October 2023 90,452 2,100 92,552
Net book value
At 31 October 2023 35,416 - 35,416
At 31 October 2022 34,412 - 34,412
5 Debtors 2023 2022
£ £
Trade debtors 44,719 26,521
Amounts owed by group undertakings and undertakings in which the company has a participating interest 914,346 717,779
Other debtors 51,850 45,157
1,010,915 789,457
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 833,223 583,205
Taxation and social security costs 179,142 250,001
Other creditors 17,196 5,777
1,029,561 838,983
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,273 38,082
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,833,741 2,661,272
Other creditors 19,374 19,374
2,881,388 2,718,728
8 Other information
Gastro Taverns Limited is a private company limited by shares and incorporated in England. Its registered office is:
Clifton House
Ashville Point
Sutton Weaver
Runcorn
WA7 3FW
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