SOUTHAMPTON GUILDHALL COFFEE LTD
Company registration number 10573528 (England and Wales)
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SOUTHAMPTON GUILDHALL COFFEE LTD
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SOUTHAMPTON GUILDHALL COFFEE LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company continued to be that of a chain of restaurants.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr S Bowman
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr S Bowman
Director
16 September 2024
SOUTHAMPTON GUILDHALL COFFEE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
115,296
78,298
Current assets
Stocks
25,500
25,500
Debtors
5
211,866
114,014
Cash at bank and in hand
90,633
55,228
327,999
194,742
Creditors: amounts falling due within one year
6
(237,221)
(106,918)
Net current assets
90,778
87,824
Total assets less current liabilities
206,074
166,122
Creditors: amounts falling due after more than one year
7
(20,276)
(29,097)
Net assets
185,798
137,025
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
185,698
136,925
Total equity
185,798
137,025

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

SOUTHAMPTON GUILDHALL COFFEE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 19 September 2024
Mr S Bowman
Director
Company registration number 10573528 (England and Wales)
SOUTHAMPTON GUILDHALL COFFEE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Southampton Guildhall Coffee Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Guildhall Place, Southampton, SO14 7DU.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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:

Leasehold land and buildings
Leasehold improvements
5% straight line
Plant and equipment
10% straight line

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
Impairment of fixed assets

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 estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SOUTHAMPTON GUILDHALL COFFEE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
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.

SOUTHAMPTON GUILDHALL COFFEE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
44
14
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
36,685
57,629
94,314
Additions
-
0
49,551
49,551
At 31 December 2023
36,685
107,180
143,865
Depreciation and impairment
At 1 January 2023
2,488
13,528
16,016
Depreciation charged in the year
1,833
10,720
12,553
At 31 December 2023
4,321
24,248
28,569
Carrying amount
At 31 December 2023
32,364
82,932
115,296
At 31 December 2022
34,197
44,101
78,298
SOUTHAMPTON GUILDHALL COFFEE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,456
3,214
Other debtors
208,410
110,800
211,866
114,014
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,035
9,788
Trade creditors
41,018
10,701
Taxation and social security
56,672
63,567
Other creditors
129,496
22,862
237,221
106,918
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,276
29,097
2023-12-312023-01-01false19 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr S Bowmanfalsefalse105735282023-01-012023-12-3110573528bus:Director12023-01-012023-12-31105735282023-12-31105735282022-12-3110573528core:LandBuildings2023-12-3110573528core:OtherPropertyPlantEquipment2023-12-3110573528core:LandBuildings2022-12-3110573528core:OtherPropertyPlantEquipment2022-12-3110573528core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3110573528core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3110573528core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3110573528core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3110573528core:CurrentFinancialInstruments2023-12-3110573528core:CurrentFinancialInstruments2022-12-3110573528core:ShareCapital2023-12-3110573528core:ShareCapital2022-12-3110573528core:RetainedEarningsAccumulatedLosses2023-12-3110573528core:RetainedEarningsAccumulatedLosses2022-12-3110573528core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2023-01-012023-12-3110573528core:PlantMachinery2023-01-012023-12-31105735282022-01-012022-12-3110573528core:LandBuildings2022-12-3110573528core:OtherPropertyPlantEquipment2022-12-31105735282022-12-3110573528core:LandBuildings2023-01-012023-12-3110573528core:OtherPropertyPlantEquipment2023-01-012023-12-3110573528core:WithinOneYear2023-12-3110573528core:WithinOneYear2022-12-3110573528core:Non-currentFinancialInstruments2023-12-3110573528core:Non-currentFinancialInstruments2022-12-3110573528bus:PrivateLimitedCompanyLtd2023-01-012023-12-3110573528bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110573528bus:FRS1022023-01-012023-12-3110573528bus:AuditExemptWithAccountantsReport2023-01-012023-12-3110573528bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP