1 January 2023 v2024.41.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP045657292023-01-012023-12-31045657292023-12-31045657292022-12-3104565729core:WithinOneYear2023-12-3104565729core:WithinOneYear2022-12-3104565729core:AfterOneYear2023-12-3104565729core:AfterOneYear2022-12-3104565729core:ShareCapital2023-12-3104565729core:ShareCapital2022-12-3104565729core:RetainedEarningsAccumulatedLosses2023-12-3104565729core:RetainedEarningsAccumulatedLosses2022-12-3104565729bus:Director12023-01-012023-12-3104565729bus:RegisteredOffice2023-01-012023-12-3104565729core:NetGoodwill2023-01-012023-12-3104565729core:OfficeEquipment2023-01-012023-12-3104565729core:FurnitureFittings2023-01-012023-12-3104565729core:NetGoodwill2023-01-0104565729core:PlantMachinery2023-01-0104565729core:PlantMachinery2023-01-012023-12-3104565729core:PlantMachinery2022-12-310456572912023-01-012023-12-31045657292022-01-012022-12-3104565729countries:EnglandWales2023-01-012023-12-3104565729bus:AuditExemptWithAccountantsReport2023-01-012023-12-3104565729bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104565729bus:SmallEntities2023-01-012023-12-3104565729bus:FullAccounts2023-01-012023-12-31
Company registration number:
04565729
Granvilles Restaurants Ltd.
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Granvilles Restaurants Ltd.
Report to the board of directors on the preparation of the unaudited statutory financial statements of Granvilles Restaurants Ltd.
Year ended
31 December 2023
As described on the statement of financial position, the Board of Directors of
Granvilles Restaurants Ltd.
are responsible for the preparation of the
financial statements
for the year ended
31 December 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
The Accountsmith Limited
Suite 3 8 The Westbury Centre
Westbury Park
Newcastle Under lyme
Staffordshire
ST5 4LY
United Kingdom
Date:
27 August 2024
Granvilles Restaurants Ltd.
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 6 -  
4,505
 
Current assets    
Debtors 7
47,595
 
54,167
 
Cash at bank and in hand
577
 
925
 
48,172
 
55,092
 
Creditors: amounts falling due within one year 8
(40,536
)
(40,536
)
Net current assets
7,636
 
14,556
 
Total assets less current liabilities 7,636   19,061  
Creditors: amounts falling due after more than one year 9
(16,991
)
(24,034
)
Net liabilities
(9,355
)
(4,973
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(9,455
)
(5,073
)
Shareholders deficit
(9,355
)
(4,973
)
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2024
, and are signed on behalf of the board by:
Mr Adam Jones
Director
Company registration number:
04565729
Granvilles Restaurants Ltd.
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3-5 Station Road
,
Stone
,
Staffordshire
,
ST15 8JP
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33% reducing balance
Fixtures and fittings
15% reducing balance

Impairment

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.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Intangible assets

Goodwill
£
Cost  
At
1 January 2023
15,000
 
Disposals
(15,000
)
At
31 December 2023
-  
Amortisation  
At
1 January 2023
15,000
 
Disposals
(15,000
)
At
31 December 2023
-  
Carrying amount  
At
31 December 2023
-  
At 31 December 2022 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
63,883
 
Disposals
(63,883
)
At
31 December 2023
-  
Depreciation  
At
1 January 2023
59,378
 
Disposals
(59,378
)
At
31 December 2023
-  
Carrying amount  
At
31 December 2023
-  
At 31 December 2022
4,505
 

7 Debtors

20232022
££
Other debtors
47,595
 
54,167
 

8 Creditors: amounts falling due within one year

20232022
££
Trade creditors
6,293
 
6,293
 
Taxation and social security
34,410
 
34,410
 
Other creditors
(167
)
(167
)
40,536
 
40,536
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
16,991
 
24,034
 

10 Director's advances, credit and guarantees

The following advances to directors subsisted during the period ended 31 December 2020 and 31 December 2019 Mr A D L Jones and Mrs A L Jones
Balance outstanding at 1-1-2020 £36,690
Advances £12,691
Repaid nil
Balance at 31-12-2020 £49,381
Balance outstanding at 1-1-2019 £ 29,214
Advances £34,806
Repaid £27,330
Balance at 31-12-2019 £36,690