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Registered number: 11657200
Gather Restaurants Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11657200
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 48,862 52,573
48,862 52,573
CURRENT ASSETS
Stocks 5,800 6,000
Cash at bank and in hand 74,894 71,158
80,694 77,158
Creditors: Amounts Falling Due Within One Year 5 (102,233 ) (100,219 )
NET CURRENT ASSETS (LIABILITIES) (21,539 ) (23,061 )
TOTAL ASSETS LESS CURRENT LIABILITIES 27,323 29,512
NET ASSETS 27,323 29,512
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 27,313 29,502
SHAREHOLDERS' FUNDS 27,323 29,512
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Harrison Brockington
Director
Caryn Brockington
Director
31/07/2024
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
Gather Restaurants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11657200 . The registered office is 13 Hyde Road, Paignton, Devon, TQ4 5BW.
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. 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 Over 20 Years
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Straight Line
2.5. 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 9 (2022: 12)
9 12
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Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 64,235 22,847 1,622 844 89,548
Additions - 508 - - 508
As at 30 November 2023 64,235 23,355 1,622 844 90,056
Depreciation
As at 1 December 2022 16,508 18,635 908 924 36,975
Provided during the period 3,212 944 143 (80 ) 4,219
As at 30 November 2023 19,720 19,579 1,051 844 41,194
Net Book Value
As at 30 November 2023 44,515 3,776 571 - 48,862
As at 1 December 2022 47,727 4,212 714 (80 ) 52,573
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,772 -
Other taxes and social security 1,283 3,007
VAT 12,180 10,100
Net wages - 10,906
Accruals and deferred income 949 1,615
Directors' loan accounts 84,049 74,591
102,233 100,219
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
7. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Harrison Brockington 1,000 -
Page 4
Page 5
8. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 1,000 -
Page 5