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Company Registration No. 10415868 (England and Wales)
MARGARET'S TEA ROOMS LIMITED Unaudited accounts for the year ended 31 October 2023
MARGARET'S TEA ROOMS LIMITED Unaudited accounts Contents
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MARGARET'S TEA ROOMS LIMITED Company Information for the year ended 31 October 2023
Director
Derek Davis
Company Number
10415868 (England and Wales)
Registered Office
8 Wallis Ave Lincoln Lincolnshire LN6 8AS ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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MARGARET'S TEA ROOMS LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,414 
13,428 
Current assets
Cash at bank and in hand
25 
891 
Creditors: amounts falling due within one year
(533)
(5,651)
Net current liabilities
(508)
(4,760)
Total assets less current liabilities
10,906 
8,668 
Provisions for liabilities
Deferred tax
- 
(1,683)
Net assets
10,906 
6,985 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
10,905 
6,984 
Shareholders' funds
10,906 
6,985 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 July 2024 and were signed on its behalf by
Derek Davis Director Company Registration No. 10415868
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MARGARET'S TEA ROOMS LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
MARGARET'S TEA ROOMS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10415868. The registered office is 8 Wallis Ave, Lincoln, Lincolnshire, LN6 8AS, ENGLAND. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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MARGARET'S TEA ROOMS LIMITED Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2022
23,455 
At 31 October 2023
23,455 
Depreciation
At 1 November 2022
10,027 
Charge for the year
2,014 
At 31 October 2023
12,041 
Net book value
At 31 October 2023
11,414 
At 31 October 2022
13,428 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
- 
599 
Loans from directors
34 
4,632 
Accruals
499 
420 
533 
5,651 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
7
Post balance sheet events
Following the events of COVID it has become apparent the tea rooms will need to close due to the long period of closure without customer income . The doors closed on the business as at March 31st 2024.
8
Average number of employees
During the year the average number of employees was 4 (2022: 12).
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