S & G Trading (Torquay) Limited |
Registered Number:09365456 |
For the period ended 27 February 2024
England and Wales
Unaudited Financial Statements
For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
S & G Trading (Torquay) Limited
Statement of Financial Position
2023
2024
72,000
81,000
2
Property, plant and equipment |
58,101
73,151
3
130,101
154,151
10,935
13,204
4
Trade and other receivables |
23,971
38,097
5
7,508
Cash and cash equivalents |
1,624
52,925
42,414
Trade and other payables: amounts falling due within one |
year |
(217,590)
(248,626)
6
(175,176)
(195,701)
Net current liabilities
Total assets less current liabilities |
(65,600)
(21,025)
Trade and other payables: amounts falling due after more |
than one year |
(91,650)
(41,540)
7
(9,066)
(4,451)
Provisions for liabilities |
(116,206)
Net liabilities
(117,126)
100
100
(116,306)
(117,226)
(116,206)
(117,126)
Shareholders' funds
For the period ended 27 February 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 of its financial statements for the period ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Statement of Financial Position Continued
G Van Blankenstein Director |
These financial statements were approved and authorised for issue by the Board on 08 January 2025 and were signed by: |
The notes form part of these financial statements |
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For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements
Statutory Information
S & G Trading (Torquay) Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 09365456. |
Principal place of business: |
2 Victoria Parade
Torquay
Devon
TQ1 2BB
13 - 14 Victoria Parade
Torquay
Devon
TQ1 2BB
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company in the sale of fish and chips and the running of a cafe, net of Value Added Tax and trade discounts. |
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over 10 years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
Property, plant and equipment
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Leasehold Improvements
Leased equipment
Motor vehicles
Fixtures & equipment
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
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For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
123,448
123,448
42,448
9,000
Charge for period
51,448
72,000
81,000
3. Property, plant and equipment |
Motor vehicles
213,931
12,921
122,351
20,301
58,358
4,317
-
4,317
-
-
20,301
126,668
12,921
218,248
58,358
Provision for depreciation and impairment |
140,780
12,921
74,467
8,881
44,511
Charge for period
19,367
-
13,050
2,855
3,462
160,147
12,921
87,517
11,736
47,973
10,385
8,565
39,151
-
58,101
13,847
11,420
47,884
-
73,151
2023
2024
13,204
10,935
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For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2023
2024
38,097
23,971
6. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
74,465
51,112
9,497
-
38,183
42,876
Taxation and social security |
55,571
78,707
70,910
44,895
248,626
217,590
Included within taxation and social security is corporation tax of £Nil (2023: £15,134).
7. Trade and other payables: amounts falling due after more than one year |
2023
2024
Bank loans and overdraft (secured) |
41,540
91,650
Previously a bounce back laon was taken out, this was to help the business get through the Coronavirus Pandemic. The loan was taken out over 6 years, however, the first repayment was due 13 months after the loan was received. On 11 July 2022 a business loan was taken out over 35 months. The bank holds a fixed and floating charge over the company's assets and personal guarantees from each of the directors. |
8. Related party transactions |
The company is under the effective control of its directors.
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For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements Continued
9. Directors advances and guarantees |
Loaned
Repaid
S J Perry
Loan (to) Director
(9,890)
(75,803)
78,143
12,230
(9,890)
(75,803)
78,143
12,230
G Van Blankenstein
Loan from/ (to) Director
67,508
108,600
29,051
70,143
67,508
108,600
29,051
70,143
10. Guarantees and other financial commitments |
At 27 February 2024 the company had annual commitments under non-cancellable operating leases as set out |
below: |
2023
2024
Operating leases which expire: |
32,000
-
64,000
24,100
56,100
64,000
Under FRS 102, the figures represent the full amount payable for the whole period of the lease remaining at the |
period end. |
11. Average number of persons employed |
During the period the average number of employees was 27 (2023 : 23)
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