IRIS Accounts Production v24.3.0.553 11115040 Board of Directors Board of Directors Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111150402023-02-28111150402024-02-29111150402023-03-012024-02-29111150402022-02-28111150402022-03-012023-02-28111150402023-02-2811115040ns15:EnglandWales2023-03-012024-02-2911115040ns14:PoundSterling2023-03-012024-02-2911115040ns10:Director12023-03-012024-02-2911115040ns10:Director22023-03-012024-02-2911115040ns10:Director32023-03-012024-02-2911115040ns10:Director42023-03-012024-02-2911115040ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2911115040ns10:SmallEntities2023-03-012024-02-2911115040ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2911115040ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2911115040ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2911115040ns10:FullAccounts2023-03-012024-02-2911115040ns10:RegisteredOffice2023-03-012024-02-2911115040ns5:CurrentFinancialInstruments2024-02-2911115040ns5:CurrentFinancialInstruments2023-02-2811115040ns5:Non-currentFinancialInstruments2024-02-2911115040ns5:Non-currentFinancialInstruments2023-02-2811115040ns5:ShareCapital2024-02-2911115040ns5:ShareCapital2023-02-2811115040ns5:RetainedEarningsAccumulatedLosses2024-02-2911115040ns5:RetainedEarningsAccumulatedLosses2023-02-2811115040ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2911115040ns5:FurnitureFittings2023-03-012024-02-2911115040ns5:ComputerEquipment2023-03-012024-02-2911115040ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2811115040ns5:FurnitureFittings2023-02-2811115040ns5:ComputerEquipment2023-02-2811115040ns5:ShortLeaseholdAssetsns5:LandBuildings2024-02-2911115040ns5:FurnitureFittings2024-02-2911115040ns5:ComputerEquipment2024-02-2911115040ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2811115040ns5:FurnitureFittings2023-02-2811115040ns5:ComputerEquipment2023-02-2811115040ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2911115040ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2811115040ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-02-2911115040ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2811115040ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2911115040ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2811115040ns5:WithinOneYear2024-02-2911115040ns5:WithinOneYear2023-02-2811115040ns5:BetweenOneFiveYears2024-02-2911115040ns5:BetweenOneFiveYears2023-02-2811115040ns5:MoreThanFiveYears2024-02-2911115040ns5:MoreThanFiveYears2023-02-2811115040ns5:AllPeriods2024-02-2911115040ns5:AllPeriods2023-02-28
DRAFT
REGISTERED NUMBER: 11115040 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TAP HOUSE SHOREHAM LTD

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

DRAFT



Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAP HOUSE SHOREHAM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DRAFT
DIRECTORS: Ms M Gearing
D Gearing
T J Taylor
M J Taylor





REGISTERED OFFICE: 80 High Street
Worthing
West Sussex
BN11 1DJ





REGISTERED NUMBER: 11115040 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
DRAFT
FIXED ASSETS
Tangible assets 3 146,677 162,021

CURRENT ASSETS
Stocks 4 10,000 9,500
Debtors 5 11,918 13,576
Cash at bank and in hand 87,163 65,245
109,081 88,321
CREDITORS
Amounts falling due within one year 6 64,123 61,547
NET CURRENT ASSETS 44,958 26,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,635

188,795

CREDITORS
Amounts falling due after more than one
year

7

(12,854

)

(22,860

)

PROVISIONS FOR LIABILITIES (4,009 ) (3,205 )
NET ASSETS 174,772 162,730

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 173,772 161,730
174,772 162,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

BALANCE SHEET - continued
29 FEBRUARY 2024

DRAFT

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




D Gearing - Director Ms M Gearing - Director




M J Taylor - Director T J Taylor - Director


TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
DRAFT

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 the rendering of services. Turnover is reduced from estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Leasehold - over the period of the lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024
DRAFT

3. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 216,009 30,884 9,416 256,309
Additions - 3,965 - 3,965
At 29 February 2024 216,009 34,849 9,416 260,274
DEPRECIATION
At 1 March 2023 70,854 16,613 6,821 94,288
Charge for year 14,516 4,146 647 19,309
At 29 February 2024 85,370 20,759 7,468 113,597
NET BOOK VALUE
At 29 February 2024 130,639 14,090 1,948 146,677
At 28 February 2023 145,155 14,271 2,595 162,021

4. STOCKS
2024 2023
£    £   
Stocks 10,000 9,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,657 4,727
Amounts owed by associates 4,727 4,727
Other debtors - 668
Prepayments 3,534 3,454
11,918 13,576

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,283 10,160
Trade creditors 28,488 26,769
Amounts owed to associates 192 192
Tax 7,070 6,880
Social security and other taxes 2,340 2,540
VAT 9,578 10,203
Other creditors 3,905 3,450
Accrued expenses 2,267 1,353
64,123 61,547

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,283 10,160
Bank loans - 2-5 years 2,571 12,700
12,854 22,860

TAP HOUSE SHOREHAM LTD (REGISTERED NUMBER: 11115040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024
DRAFT

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,000 28,000
Between one and five years 112,000 112,000
In more than five years 107,240 135,240
247,240 275,240

9. RELATED PARTY DISCLOSURES

As at 29 February 2024, Portland Freehouse Company Limited owed the company £1,386 (2023: £4,781). Of this balance, £357 is included within trade debtors and £3,698 within trade creditors. The balance is interest free and repayable on demand.

As at 29 February 2024, the company owed The Beach House Worthing Company Limited £1,857 (2023: £1,926). Of this balance, £1,665 is included within trade creditors. The balance is interest free and repayable on demand.

As at 29 February 2024, the company owed Our Eating House Limited £2,005 (2023: £1,137). Of this balance, £2,005 is included within trade creditors. The balance is interest free and repayable on demand.

During the year, the following wages were recharged to Tap House Shoreham Ltd by:

The Beach House Worthing Company Limited - £15,337
Portland Freehouse Company Limited - £28,482

10. ULTIMATE CONTROLLING PARTY

This was by virtue of Mr D Gearing and Ms M Gearing's 51% holding of the issued share capital.