Registered number
10867734
Survivor Caribbean Restaurant Ltd
Unaudited Filleted Accounts
30 April 2024
Survivor Caribbean Restaurant Ltd
Registered number: 10867734
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 13,081 18,200
Tangible assets 4 79,823 42,943
92,904 61,143
Current assets
Stocks 9,841 7,198
Debtors 5 25,735 24,731
Cash at bank and in hand 48,739 94,721
84,315 126,650
Creditors: amounts falling due within one year 6 (98,337) (143,387)
Net current liabilities (14,022) (16,737)
Net assets 78,882 44,406
Capital and reserves
Called up share capital 2 2
Profit and loss account 78,880 44,404
Shareholders' funds 78,882 44,406
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Raymond Clarke
Director
Approved by the board on 4 September 2024
Survivor Caribbean Restaurant Ltd
Notes to the Accounts
for the period from 1 August 2023 to 30 April 2024
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).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and equipment 15% on written down value
Motor vehicles 25% on written down value
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.
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 2024 2023
Number Number
Average number of persons employed by the company 30 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 (20,475)
At 30 April 2024 (20,475)
Amortisation
At 1 August 2023 (38,675)
Provided during the period 5,119
At 30 April 2024 (33,556)
Net book value
At 30 April 2024 13,081
At 31 July 2023 18,200
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 68,577 13,529 82,106
Additions 17,246 33,011 50,257
At 30 April 2024 85,823 46,540 132,363
Depreciation
At 1 August 2023 31,175 7,988 39,163
Charge for the period 6,148 7,229 13,377
At 30 April 2024 37,323 15,217 52,540
Net book value
At 30 April 2024 48,500 31,323 79,823
At 31 July 2023 37,402 5,541 42,943
5 Debtors 2024 2023
£ £
Trade debtors 10,172 10,668
Other debtors 15,563 14,063
25,735 24,731
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,358 535
Taxation and social security costs 60,244 43,872
Other creditors 27,735 98,980
98,337 143,387
7 Other information
Survivor Caribbean Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4-6 Sandringham Road
London
E8 2LP
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