Registered number
12365481
Temptations Dessert Lounge Ltd
Filleted Accounts
31 December 2023
Temptations Dessert Lounge Ltd
Registered number: 12365481
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 233,840 258,252
Current assets
Stocks 6,330 6,554
Debtors 4 30,530 42,837
Cash at bank and in hand 5,119 11,166
41,979 60,557
Creditors: amounts falling due within one year 5 (119,967) (110,382)
Net current liabilities (77,988) (49,825)
Total assets less current liabilities 155,852 208,427
Creditors: amounts falling due after more than one year 6 (316,508) (319,288)
Net liabilities (160,656) (110,861)
Capital and reserves
Called up share capital 1 1
Profit and loss account (160,657) (110,862)
Shareholder's funds (160,656) (110,861)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
K Washburn
Director
Approved by the board on 19 September 2024
Temptations Dessert Lounge Ltd
Notes to the Accounts
for the year ended 31 December 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.
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:
Premises lease costs over 10 years
Plant and machinery 25% reducing balance
Fixtures, fittings and equipment 25% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 16 19
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 199,422 92,327 291,749
Additions 13,868 548 14,416
At 31 December 2023 213,290 92,875 306,165
Depreciation
At 1 January 2023 11,633 21,864 33,497
Charge for the year 21,098 17,730 38,828
At 31 December 2023 32,731 39,594 72,325
Net book value
At 31 December 2023 180,559 53,281 233,840
At 31 December 2022 187,789 70,463 258,252
4 Debtors 2023 2022
£ £
Trade debtors 530 2,170
Other debtors 30,000 40,667
30,530 42,837
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,556 5,556
Trade creditors 46,693 35,762
Taxation and social security costs 12,606 10,595
Other creditors 55,112 58,469
119,967 110,382
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 37,963 41,204
Other creditors 278,545 278,084
316,508 319,288
7 Other information
Temptations Dessert Lounge Ltd is a private company limited by shares and incorporated in England. Its registered office is:
49 Aldrich Road
Oxford
OX2 7ST
Temptations Dessert Lounge Ltd 12365481 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 K Washburn No description of principal activity 12365481 2022-01-01 2022-12-31 12365481 core:WithinOneYear 2022-12-31 12365481 core:AfterOneYear 2022-12-31 12365481 core:ShareCapital 2022-12-31 12365481 core:RetainedEarningsAccumulatedLosses 2022-12-31 12365481 2023-01-01 2023-12-31 12365481 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12365481 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12365481 bus:Director40 2023-01-01 2023-12-31 12365481 1 2023-01-01 2023-12-31 12365481 2 2023-01-01 2023-12-31 12365481 core:LandBuildings 2023-01-01 2023-12-31 12365481 core:PlantMachinery 2023-01-01 2023-12-31 12365481 countries:England 2023-01-01 2023-12-31 12365481 bus:FRS102 2023-01-01 2023-12-31 12365481 bus:FilletedAccounts 2023-01-01 2023-12-31 12365481 2023-12-31 12365481 core:WithinOneYear 2023-12-31 12365481 core:AfterOneYear 2023-12-31 12365481 core:ShareCapital 2023-12-31 12365481 core:RetainedEarningsAccumulatedLosses 2023-12-31 12365481 core:LandBuildings 2023-12-31 12365481 core:PlantMachinery 2023-12-31 12365481 2022-12-31 12365481 core:LandBuildings 2022-12-31 12365481 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure