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COMPANY REGISTRATION NUMBER: 13761327
L&H Eateries Limited
Filleted Unaudited Financial Statements
30 November 2023
L&H Eateries Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
19,461
25,725
Current assets
Stocks
4,380
4,380
Debtors
6
128
Cash at bank and in hand
57,628
50,547
--------
--------
62,008
55,055
Creditors: amounts falling due within one year
7
66,060
71,102
--------
--------
Net current liabilities
4,052
16,047
--------
--------
Total assets less current liabilities
15,409
9,678
--------
-------
Net assets
15,409
9,678
--------
-------
Capital and reserves
Called up share capital
1,002
1,002
Profit and loss account
14,407
8,676
--------
-------
Shareholders funds
15,409
9,678
--------
-------
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 30 November 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 .
L&H Eateries Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 8 August 2024 , and are signed on behalf of the board by:
Mr R Lopez-Soriano
Director
Company registration number: 13761327
L&H Eateries Limited
Notes to the Financial Statements
Year ended 30 November 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 45 Queen Street, Deal, CT146EY, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
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:
Freehold property
-
10% straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% 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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
18,297
741
7,825
1,518
28,381
Additions
407
223
630
--------
----
-------
-------
--------
At 30 November 2023
18,297
741
8,232
1,741
29,011
--------
----
-------
-------
--------
Depreciation
At 1 December 2022
1,139
109
1,127
281
2,656
Charge for the year
4,574
185
1,732
403
6,894
--------
----
-------
-------
--------
At 30 November 2023
5,713
294
2,859
684
9,550
--------
----
-------
-------
--------
Carrying amount
At 30 November 2023
12,584
447
5,373
1,057
19,461
--------
----
-------
-------
--------
At 30 November 2022
17,158
632
6,698
1,237
25,725
--------
----
-------
-------
--------
6. Debtors
2023
2022
£
£
Other debtors
128
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,678
459
Corporation tax
7,173
Social security and other taxes
10,587
129
Other creditors
46,622
70,514
--------
--------
66,060
71,102
--------
--------
8. Directors' advances, credits and guarantees
At the year end the company owed £10,459 (2022: £57,416) to the directors.
9. Related party transactions
During the year the company paid dividends of £28,000 (2022: £Nil).