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Registered number: 06551619
Parkstone Bay Cafe Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Avencia Tax and Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06551619
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,159 60,785
69,159 60,785
CURRENT ASSETS
Stocks 5 7,957 11,764
Debtors 6 12,392 3,504
Cash at bank and in hand 248,315 247,805
268,664 263,073
Creditors: Amounts Falling Due Within One Year 7 (134,544 ) (88,726 )
NET CURRENT ASSETS (LIABILITIES) 134,120 174,347
TOTAL ASSETS LESS CURRENT LIABILITIES 203,279 235,132
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,606 ) (6,077 )
NET ASSETS 192,673 229,055
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 192,473 228,855
SHAREHOLDERS' FUNDS 192,673 229,055
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Emma Warington-Smyth
Director
16/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Parkstone Bay Cafe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06551619 . The registered office is Northpoint Parkstone Bay Marina, Turks Lane, Poole, Dorset, BH14 8EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 years reducing balance
Motor Vehicles 4 years reducing balance
Fixtures & Fittings 4 years reducing balance
Computer Equipment 4 years reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 35 (2023: 35)
35 35
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 164,543 28,000 11,646 1,180 205,369
Additions 27,140 - 3,690 1,675 32,505
Disposals (4,054 ) - - (1,180 ) (5,234 )
As at 31 March 2024 187,629 28,000 15,336 1,675 232,640
Depreciation
As at 1 April 2023 126,723 12,250 5,095 516 144,584
Provided during the period 16,240 3,938 2,560 419 23,157
Disposals (3,596 ) - - (664 ) (4,260 )
As at 31 March 2024 139,367 16,188 7,655 271 163,481
Net Book Value
As at 31 March 2024 48,262 11,812 7,681 1,404 69,159
As at 1 April 2023 37,820 15,750 6,551 664 60,785
5. Stocks
2024 2023
£ £
Materials 7,957 11,764
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,993 -
Prepayments and accrued income 2,153 2,613
Other debtors 1,146 791
Amounts owed by group undertakings 100 100
12,392 3,504
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,128 18,010
Corporation tax - 15,246
Other taxes and social security 8,683 7,711
VAT 7,707 10,469
Net wages 47 47
Other creditors 7,440 2,976
Accruals and deferred income 8,699 12,049
Directors' loan accounts 32,355 11,099
Amounts owed to group undertakings 16,485 11,119
134,544 88,726
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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