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Registered number: 12721874
Hythe Bay Bar And Grill Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Ads Accountants
Certified Practising Accountants
117 Dartford Road
Dartford
Kent
DA1 3EN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12721874
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,000 50,000
Tangible Assets 5 358,260 389,800
408,260 439,800
CURRENT ASSETS
Stocks 6 37,994 32,565
Debtors 7 271,171 -
Cash at bank and in hand 254,712 418,299
563,877 450,864
Creditors: Amounts Falling Due Within One Year 8 (808,225 ) (573,433 )
NET CURRENT ASSETS (LIABILITIES) (244,348 ) (122,569 )
TOTAL ASSETS LESS CURRENT LIABILITIES 163,912 317,231
Creditors: Amounts Falling Due After More Than One Year 9 (181,679 ) (196,258 )
NET (LIABILITIES)/ASSETS (17,767 ) 120,973
CAPITAL AND RESERVES
Called up share capital 10 1 1
Other reserves 20,523 20,523
Profit and Loss Account (38,291 ) 100,449
SHAREHOLDERS' FUNDS (17,767) 120,973
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Anne-Marie Johnston
Director
30/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hythe Bay Bar And Grill Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12721874 . The registered office is Flat 1 Sandown Marine Parade, Hythe, CT21 6AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 8%
Plant & Machinery 15% Reducing
Fixtures & Fittings 15% Reducing
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 50,000
As at 31 July 2023 50,000
Net Book Value
As at 31 July 2023 50,000
As at 1 August 2022 50,000
Page 3
Page 4
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2022 298,701 9,485 119,000 427,186
Additions - - 7,063 7,063
As at 31 July 2023 298,701 9,485 126,063 434,249
Depreciation
As at 1 August 2022 1,731 2,632 33,023 37,386
Provided during the period 23,619 1,028 13,956 38,603
As at 31 July 2023 25,350 3,660 46,979 75,989
Net Book Value
As at 31 July 2023 273,351 5,825 79,084 358,260
As at 1 August 2022 296,970 6,853 85,977 389,800
6. Stocks
2023 2022
£ £
Materials 37,994 32,565
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 271,171 -
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts - 8,901
VAT 370,193 186,681
Accruals and deferred income 43,868 -
Director's loan account 394,164 377,851
808,225 573,433
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Trade creditors 86,848 103,654
Bank loans 94,831 92,604
181,679 196,258
Page 4
Page 5
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5