1 April 2023 v2024.57.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP140433152023-04-012024-03-31140433152024-03-31140433152023-03-3114043315core:WithinOneYear2024-03-3114043315core:WithinOneYear2023-03-3114043315core:AfterOneYear2023-03-3114043315core:ShareCapital2024-03-3114043315core:ShareCapital2023-03-3114043315core:OtherReservesSubtotal2024-03-3114043315core:OtherReservesSubtotal2023-03-3114043315core:RetainedEarningsAccumulatedLosses2024-03-3114043315core:RetainedEarningsAccumulatedLosses2023-03-3114043315bus:Director12023-04-012024-03-3114043315bus:RegisteredOffice2023-04-012024-03-3114043315core:NetGoodwill2023-04-012024-03-3114043315core:OtherResidualIntangibleAssets2023-04-012024-03-3114043315core:Goodwill2023-04-012024-03-3114043315core:LandBuildings2023-04-012024-03-3114043315core:PlantMachinery2023-04-012024-03-3114043315core:OfficeEquipment2023-04-012024-03-3114043315core:FurnitureFittings2023-04-012024-03-3114043315core:FurnitureFittingsToolsEquipment2023-04-012024-03-3114043315core:MotorVehicles2023-04-012024-03-31140433152022-06-012023-03-31140433152023-04-011404331512023-04-012024-03-3114043315countries:EnglandWales2023-04-012024-03-3114043315bus:AuditExemptWithAccountantsReport2023-04-012024-03-3114043315bus:PrivateLimitedCompanyLtd2023-04-012024-03-3114043315bus:SmallEntities2023-04-012024-03-3114043315bus:AbridgedAccounts2023-04-012024-03-31
Company registration number:
14043315
Cliff End Taverns Ltd
Unaudited Filleted Abridged Financial Statements for the year ended
31 March 2024
Cliff End Taverns Ltd
Report of the Accountant to the director of Cliff End Taverns Ltd
Year ended
31 March 2024
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 March 2024
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Cliff End Taverns depreciation policy covers a short term, 4 year, life cycle for most tangible assets. The effect of this policy reduces asset values quicker during the earlier years of trading leading to early period losses. Some of the fixed assets agreed through the Finance Lease arrangement with Grangerest Ltd are not intending to be replaced for a number of years.
Sussex Business Services Ltd
Hillcrest
Eight Acre Lane
Three Oaks, Hastings
East Sussex
TN35 4NL
United Kingdom
Date:
30 September 2024
Cliff End Taverns Ltd
Abridged Statement of Financial Position
31 March 2024
20242023
as restated
Note££
Fixed assets    
Intangible assets 5
13,310
 
20,135
 
Tangible assets 5
23,154
 
31,461
 
36,464
 
51,596
 
Current assets    
Stocks
10,636
 
11,914
 
Cash at bank and in hand
16,980
 
28,654
 
27,616
 
40,568
 
Creditors: amounts falling due within one year
(36,500
)
(28,244
)
Net current (liabilities)/assets
(8,884
)
12,324
 
Total assets less current liabilities 27,580   63,920  
Creditors: amounts falling due after more than one year -  
(646
)
Net assets
27,580
 
63,274
 
Capital and reserves    
Called up share capital
100
 
100
 
Other reserves
95,351
 
85,900
 
Profit and loss account
(67,871
)
(22,726
)
Shareholders funds
27,580
 
63,274
 
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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 March 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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
abridged financial statements
were approved by the board of directors and authorised for issue on
30 September 2024
, and are signed on behalf of the board by:
R Lyons
Director
Company registration number:
14043315
Cliff End Taverns Ltd
Notes to the Abridged Financial Statements
Year ended
31 March 2024

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
The Royal Oak Pett Road
,
Pett
,
Hastings
,
East Sussex
,
TN35 4HG
, .

2 Statement of compliance

These
abridged 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
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Judgements and key sources of estimation uncertainty

Finance Lease with Grangerest Ltd totals 27,302.00 agreed over a 4 year period from 1st June 2022

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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.
Amortisation 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:
Other intangible assets
25% straight line
Goodwill
10% straight line

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:
Land and buildings
Straight line over 10 years
Plant and machinery
25% straight line
Office equipment
25% straight line
Fixtures and fittings
25% straight line
Fixtures, fittings and equipment
25% straight line
Motor vehicles
25% straight line

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.

4 Average number of employees

The average number of persons employed by the company during the year was
15
(2023:
15.00
).

5 Fixed assets

Intangible assetsTangible assetsTotal
£££
Cost      
At
1 April 2023
27,302
 
39,165
  66,467  
Additions -  
1,249
  1,249  
At
31 March 2024
27,302
 
40,414
  67,716  
Amortisation and depreciation      
At
1 April 2023
7,167
 
7,704
  14,871  
Charge
6,825
 
9,556
  16,381  
At
31 March 2024
13,992
 
17,260
  31,252  
Carrying amount      
At
31 March 2024
13,310
 
23,154
 
36,464
 
At 31 March 2023
20,135
 
31,461
 
51,596
 

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
Intangible assetsTangible assetsIntangible assetsTangible assets
££££
Aggregate historical cost 78,833   31,461   86,000   39,165  
Aggregate amortisation and depreciation (15,767 ) (9,214 ) (7,167 ) (7,704 )
Carrying amount
63,066
  22,247  
78,833
  31,461