Company registration number 09210308 (England and Wales)
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED (REGISTERED NUMBER: 09210308)
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
26,554
30,291
Current assets
Stocks
18,000
18,000
Debtors
4
106,251
98,597
Cash at bank and in hand
1,075
17,520
125,326
134,117
Creditors: amounts falling due within one year
5
(80,369)
(86,011)
Net current assets
44,957
48,106
Total assets less current liabilities
71,511
78,397
Creditors: amounts falling due after more than one year
6
(17,365)
(29,269)
Net assets
54,146
49,128
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
54,046
49,028
Total equity
54,146
49,128
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED (REGISTERED NUMBER: 09210308)
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mrs P I Cottrell
Director
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Townhouse (Tunbridge Wells) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Upper Grosvenor Road, Tunbridge Wells, England, TN1 2EP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts received in respect of bar and food sales, net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
over period of lease
Property improvements
15% on reducing balance
Fittings & equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
9
10
3
Tangible fixed assets
Land and buildings Leasehold
Property improvements
Fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2022
4,709
30,731
50,721
1,500
87,661
Additions
889
889
At 30 September 2023
4,709
31,620
50,721
1,500
88,550
Depreciation and impairment
At 1 October 2022
2,512
21,382
32,126
1,350
57,370
Depreciation charged in the year
330
1,469
2,789
38
4,626
At 30 September 2023
2,842
22,851
34,915
1,388
61,996
Carrying amount
At 30 September 2023
1,867
8,769
15,806
112
26,554
At 30 September 2022
2,197
9,349
18,595
150
30,291
TOWNHOUSE (TUNBRIDGE WELLS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
106,251
98,597
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
11,904
18,805
Trade creditors
1,880
12,696
Taxation and social security
46,004
41,576
Other creditors
20,581
12,934
80,369
86,011
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,365
29,269
7
Financial commitments, guarantees and contingent liabilities
During the accounting period ending 30 September 2021, the company borrowed £50,000 from its bankers as a Bounce Back Loan. As part of this loan scheme the UK government has guaranteed the advance and will pay the interest and fees due for the first 12 months. As at the balance sheet date, the balance outstanding on this loan was £27,442.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
150,480
175,560