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Registration number: SC646524

Devonpark Taverns Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Devonpark Taverns Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Devonpark Taverns Ltd

Company Information

Director

Mr Kevin Barnard

Company secretary

Mr Kevin Barnard

Registered office

44 Alexandra Street,
Devonside,
Tillicoultry
Fife
FK13 6HW

Accountants

Mr Diarmaid O Dushlaine
Association of Chartered Certified Accountants
Tullohill Accountancy Limited
Tullohill Cottage
Saline
Fife
KY12 9TT

 

Devonpark Taverns Ltd

(Registration number: SC646524)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

80,000

80,000

Current assets

 

Cash at bank and in hand

 

362

1,195

Total assets less current liabilities

 

80,362

81,195

Creditors: Amounts falling due after more than one year

5

(94,996)

(94,923)

Net liabilities

 

(14,634)

(13,728)

Capital and reserves

 

Retained earnings

(14,634)

(13,728)

Shareholders' deficit

 

(14,634)

(13,728)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 August 2024
 

.........................................
Mr Kevin Barnard
Company secretary and director

 

Devonpark Taverns Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
44 Alexandra Street,
Devonside,
Tillicoultry
Fife
FK13 6HW
Scotland

These financial statements were authorised for issue by the director on 22 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Devonpark Taverns Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 December

80,000

At 30 November

80,000

There has been no valuation of investment property by an independent valuer.

 

Devonpark Taverns Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Creditors

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

94,996

94,923

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

37,945

43,588

Other borrowings

57,051

51,335

94,996

94,923