1 January 2023 v2024.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP012930772023-01-012023-12-31012930772023-12-31012930772022-12-3101293077core:WithinOneYear2023-12-3101293077core:WithinOneYear2022-12-3101293077core:AfterOneYear2023-12-3101293077core:AfterOneYear2022-12-3101293077core:ShareCapital2023-12-3101293077core:ShareCapital2022-12-3101293077core:RetainedEarningsAccumulatedLosses2023-12-3101293077core:RetainedEarningsAccumulatedLosses2022-12-3101293077bus:Director12023-01-012023-12-3101293077bus:Director22023-01-012023-12-3101293077bus:RegisteredOffice2023-01-012023-12-3101293077core:PlantMachinery2023-01-012023-12-3101293077core:FurnitureFittingsToolsEquipment2023-01-012023-12-3101293077core:MotorVehicles2023-01-012023-12-31012930772022-01-012022-12-3101293077core:PlantMachinery2023-01-0101293077core:PlantMachinery2023-12-3101293077core:PlantMachinery2022-12-310129307712023-01-012023-12-3101293077countries:EnglandWales2023-01-012023-12-3101293077bus:AuditExemptWithAccountantsReport2023-01-012023-12-3101293077bus:PrivateLimitedCompanyLtd2023-01-012023-12-3101293077bus:SmallEntities2023-01-012023-12-3101293077bus:FullAccounts2023-01-012023-12-31
Company registration number:
01293077
Oliver Bros. (Restaurant) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Oliver Bros. (Restaurant) Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
44,531
 
48,724
 
Current assets    
Stocks
5,800
 
6,350
 
Debtors 6
155,346
 
155,346
 
Cash at bank and in hand
73,571
 
36,956
 
234,717
 
198,652
 
Creditors: amounts falling due within one year 7
(111,208
)
(102,510
)
Net current assets
123,509
 
96,142
 
Total assets less current liabilities 168,040   144,866  
Creditors: amounts falling due after more than one year 8
(34,723
)
(37,500
)
Provisions for liabilities
(9,208
)
(9,040
)
Net assets
124,109
 
98,326
 
Capital and reserves    
Called up share capital
4,030
 
4,030
 
Profit and loss account
120,079
 
94,296
 
Shareholders funds
124,109
 
98,326
 
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.
Directors' 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 directors acknowledge 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
25 September 2024
, and are signed on behalf of the board by:
I Stead
P Oliver
DirectorDirector
Company registration number:
01293077
Oliver Bros. (Restaurant) Limited
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
12 Market Place
,
Cleethorpes
,
North East Lincolnshire
,
North East Lincolnshire
,
DN35 8LY
, 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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:
Plant and machinery
10% reducing balance and 20% straight line
Fixtures, fittings and equipment
33% straight line
Motor vehicles
25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Government grants

Grants received relate to monies received from the local authority to assist with the impact of Covid 19 on the business.

4 Average number of employees

The average number of persons employed by the company during the year was
33
(2022:
35.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
304,336
 
Additions
1,216
 
At
31 December 2023
305,552
 
Depreciation  
At
1 January 2023
255,612
 
Charge
5,409
 
At
31 December 2023
261,021
 
Carrying amount  
At
31 December 2023
44,531
 
At 31 December 2022
48,724
 

6 Debtors

20232022
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
155,346
 
155,346
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
5,555
 
8,333
 
Trade creditors
37,237
 
44,776
 
Taxation and social security
58,502
 
40,451
 
Other creditors
9,914
 
8,950
 
111,208
 
102,510
 
Bank overdraft is secured by a cross guarantee by PG & EB Oliver Ltd.

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
34,723
 
37,500