18 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 42,504 748 43,252 15,306 5,591 20,897 22,355 27,198 xbrli:pure xbrli:shares iso4217:GBP 07285152 2022-11-01 2023-10-31 07285152 2023-10-31 07285152 2022-10-31 07285152 2021-11-01 2022-10-31 07285152 2022-10-31 07285152 core:FurnitureFittings 2022-11-01 2023-10-31 07285152 bus:Director3 2022-11-01 2023-10-31 07285152 core:FurnitureFittings 2022-10-31 07285152 core:FurnitureFittings 2023-10-31 07285152 core:WithinOneYear 2023-10-31 07285152 core:WithinOneYear 2022-10-31 07285152 core:ShareCapital 2023-10-31 07285152 core:ShareCapital 2022-10-31 07285152 core:RetainedEarningsAccumulatedLosses 2023-10-31 07285152 core:RetainedEarningsAccumulatedLosses 2022-10-31 07285152 core:FurnitureFittings 2022-10-31 07285152 bus:SmallEntities 2022-11-01 2023-10-31 07285152 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 07285152 bus:FullAccounts 2022-11-01 2023-10-31 07285152 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07285152 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 07285152
SEA VIEW TEA ROOMS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2023
SEA VIEW TEA ROOMS LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
22,355
27,198
Current assets
Stocks
1,690
1,536
Debtors
6
1,242
2,054
Cash at bank and in hand
109,308
77,295
---------
--------
112,240
80,885
Creditors: amounts falling due within one year
7
56,152
44,501
---------
--------
Net current assets
56,088
36,384
--------
--------
Total assets less current liabilities
78,443
63,582
Provisions
Taxation including deferred tax
4,249
5,168
--------
--------
Net assets
74,194
58,414
--------
--------
Capital and reserves
Called up share capital
3
3
Profit and loss account
74,191
58,411
--------
--------
Shareholders funds
74,194
58,414
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SEA VIEW TEA ROOMS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr H Southall
Director
Company registration number: 07285152
SEA VIEW TEA ROOMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Sea View Terrace, Borth y Gest, Porthmadog, Gwynedd, LL49 9TR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Taxation Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & equipment - 20% reducing balance
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2022: 19 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 November 2022
42,504
42,504
Additions
748
748
--------
--------
At 31 October 2023
43,252
43,252
--------
--------
Depreciation
At 1 November 2022
15,306
15,306
Charge for the year
5,591
5,591
--------
--------
At 31 October 2023
20,897
20,897
--------
--------
Carrying amount
At 31 October 2023
22,355
22,355
--------
--------
At 31 October 2022
27,198
27,198
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
403
201
Other debtors
839
1,853
-------
-------
1,242
2,054
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
16,945
20,825
Corporation tax
14,087
Social security and other taxes
21,512
17,385
Other creditors
3,608
6,291
--------
--------
56,152
44,501
--------
--------
8. Directors' advances, credits and guarantees
There were no director's advances, credits or guarantees during the year.