J&G EATERY LTD

Company Registration Number:
NI644757 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 August 2023

Period of accounts

Start date: 1 September 2022

End date: 31 August 2023

J&G EATERY LTD

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Additional notes
Balance sheet notes

J&G EATERY LTD

Balance sheet

As at 31 August 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 95,067 63,000
Total fixed assets: 95,067 63,000
Current assets
Stocks: 4 9,892 5,624
Cash at bank and in hand: 147,221 138,385
Total current assets: 157,113 144,009
Creditors: amounts falling due within one year: 5 ( 206,291 ) ( 141,685 )
Net current assets (liabilities): (49,178) 2,324
Total assets less current liabilities: 45,889 65,324
Creditors: amounts falling due after more than one year: 6 ( 15,750 ) ( 24,750 )
Provision for liabilities: ( 18,063 ) ( 11,970 )
Total net assets (liabilities): 12,076 28,604
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 11,976 28,504
Total Shareholders' funds: 12,076 28,604

The notes form part of these financial statements

J&G EATERY LTD

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 20 August 2024
and signed on behalf of the board by:

Name: Joanne Dolan
Status: Director

The notes form part of these financial statements

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration receivable net of discounts and VAT. The policy adopted for the recognition of turnover is as follows: Sale of food and beverages Turnover from sales of food and beverages is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer and the amount of turnover can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at point of sale.

    Tangible fixed assets depreciation policy

    Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: Fixtures, fittings and equipment - 20% straight line Motor vehicles - 25% straight line The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimated the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Statement of Income and Retained Earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    Stocks If stocks were stated at replacement cost (latest purchase price) they would not differ materially from the above. Borrowing costs Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. Provisions Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense. Employee benefits When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service Taxation Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Provision is made at the rates expected to apply when the timing differences reverse. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in taxable profits in periods different from those in which they are recognised in the financial statements. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Statement of Income and Retained Earnings.

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 24 25

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2022 88,547 21,667 110,214
Additions 55,833 55,833
Disposals
Revaluations
Transfers
At 31 August 2023 144,380 21,667 166,047
Depreciation
At 1 September 2022 39,414 7,800 47,214
Charge for year 20,993 2,773 23,766
On disposals
Other adjustments
At 31 August 2023 60,407 10,573 70,980
Net book value
At 31 August 2023 83,973 11,094 95,067
At 31 August 2022 49,133 13,867 63,000

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Stocks

2023 2022
£ £
Stocks 9,892 5,624
Total 9,892 5,624

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 9,000 9,000
Trade creditors 140,760 54,472
Taxation and social security 43,021 45,915
Accruals and deferred income 7,510 8,561
Other creditors 6,000 23,737
Total 206,291 141,685

J&G EATERY LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 15,750 24,750
Total 15,750 24,750