Registered number
05911780
The Seaview Restaurant Ltd
Filleted Accounts
31 August 2023
The Seaview Restaurant Ltd
Registered number: 05911780
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 97,235 129,646
Tangible assets 4 316,397 354,136
413,632 483,782
Current assets
Stocks 10,000 12,000
Debtors 5 20,250 60,130
Cash at bank and in hand 398,280 560,537
428,530 632,667
Creditors: amounts falling due within one year 6 (427,023) (553,568)
Net current assets 1,507 79,099
Total assets less current liabilities 415,139 562,881
Creditors: amounts falling due after more than one year 7 (104,166) (154,166)
Provisions for liabilities (60,823) (40,423)
Net assets 250,150 368,292
Capital and reserves
Called up share capital 2 2
Profit and loss account 250,148 368,290
Shareholders' funds 250,150 368,292
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Glenn Pearson
Director
Approved by the board on 28 August 2024
The Seaview Restaurant Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery at 15% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 63 48
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 162,058
At 31 August 2023 162,058
Amortisation
At 1 September 2022 32,412
Provided during the year 32,411
At 31 August 2023 64,823
Net book value
At 31 August 2023 97,235
At 31 August 2022 129,646
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 323,098 554,304 7,979 885,381
Additions - 27,948 - 27,948
At 31 August 2023 323,098 582,252 7,979 913,329
Depreciation
At 1 September 2022 145,031 378,631 7,583 531,245
Charge for the year 26,710 38,898 79 65,687
At 31 August 2023 171,741 417,529 7,662 596,932
Net book value
At 31 August 2023 151,357 164,723 317 316,397
At 31 August 2022 178,067 175,673 396 354,136
5 Debtors 2023 2022
£ £
Other debtors 20,250 60,130
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 50,000 50,000
Trade creditors - (17,571)
Taxation and social security costs 348,835 473,398
Other creditors 28,188 47,741
427,023 553,568
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 104,166 154,166
8 Other information
The Seaview Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Marske Mil Lane
Saltburn-By-The-Sea
Cleveland
TS12 1HR
The Seaview Restaurant Ltd 05911780 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts April 2024 Glenn Pearson No description of principal activity 05911780 2021-09-01 2022-08-31 05911780 core:WithinOneYear 2022-08-31 05911780 core:AfterOneYear 2022-08-31 05911780 core:ShareCapital 2022-08-31 05911780 core:RetainedEarningsAccumulatedLosses 2022-08-31 05911780 2022-09-01 2023-08-31 05911780 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05911780 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05911780 bus:Director40 2022-09-01 2023-08-31 05911780 1 2022-09-01 2023-08-31 05911780 2 2022-09-01 2023-08-31 05911780 core:Goodwill 2022-09-01 2023-08-31 05911780 core:LandBuildings 2022-09-01 2023-08-31 05911780 core:PlantMachinery 2022-09-01 2023-08-31 05911780 core:Vehicles 2022-09-01 2023-08-31 05911780 countries:England 2022-09-01 2023-08-31 05911780 bus:FRS102 2022-09-01 2023-08-31 05911780 bus:FilletedAccounts 2022-09-01 2023-08-31 05911780 2023-08-31 05911780 core:WithinOneYear 2023-08-31 05911780 core:AfterOneYear 2023-08-31 05911780 core:ShareCapital 2023-08-31 05911780 core:RetainedEarningsAccumulatedLosses 2023-08-31 05911780 core:Goodwill 2023-08-31 05911780 core:LandBuildings 2023-08-31 05911780 core:PlantMachinery 2023-08-31 05911780 core:Vehicles 2023-08-31 05911780 2022-08-31 05911780 core:Goodwill 2022-08-31 05911780 core:LandBuildings 2022-08-31 05911780 core:PlantMachinery 2022-08-31 05911780 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure