2023-03-01 09365456 2024-02-27 09365456 2023-03-01 2024-02-27 09365456 2023-02-28 09365456 2022-03-01 2023-02-28 09365456 uk-core:WithinOneYear 2023-02-28 09365456 uk-core:WithinOneYear 2024-02-27 09365456 uk-core:AfterOneYear 2023-02-28 09365456 uk-core:AfterOneYear 2024-02-27 09365456 uk-core:ShareCapital 2024-02-27 09365456 uk-core:ShareCapital 2023-02-28 09365456 uk-core:RetainedEarningsAccumulatedLosses 2024-02-27 09365456 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 09365456 uk-bus:Director1 2023-03-01 2024-02-27 09365456 uk-bus:Director2 2023-03-01 2024-02-27 09365456 uk-core:LeaseholdImprovements 2023-03-01 2024-02-27 09365456 uk-core:OfficeEquipment 2023-03-01 2024-02-27 09365456 uk-core:MotorVehicles 2023-03-01 2024-02-27 09365456 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-27 09365456 uk-core:Goodwill 2023-02-28 09365456 uk-core:Goodwill 2024-02-27 09365456 uk-core:Goodwill 2023-03-01 2024-02-27 09365456 uk-core:OfficeEquipment 2023-02-28 09365456 uk-core:FurnitureFittingsToolsEquipment 2023-02-28 09365456 uk-core:MotorVehicles 2023-02-28 09365456 uk-core:LeaseholdImprovements 2023-02-28 09365456 uk-core:MotorVehicles 2024-02-27 09365456 uk-core:FurnitureFittingsToolsEquipment 2024-02-27 09365456 uk-core:OfficeEquipment 2024-02-27 09365456 uk-core:LeaseholdImprovements 2024-02-27 09365456 uk-core:WithinOneYear uk-core:Secured 2024-02-27 09365456 uk-core:WithinOneYear uk-core:Secured 2023-02-28 09365456 uk-core:WithinOneYear 2024-02-27 09365456 uk-core:WithinOneYear 2023-02-28 09365456 uk-core:WithinOneYear 2023-03-01 2024-02-27 09365456 uk-core:AfterOneYear 2023-03-01 2024-02-27 09365456 2 uk-bus:Director1 2023-03-01 2024-02-27 09365456 2 uk-bus:Director1 2024-02-27 09365456 2 uk-bus:Director1 2023-02-28 09365456 3 uk-bus:Director2 2023-03-01 2024-02-27 09365456 3 uk-bus:Director2 2024-02-27 09365456 3 uk-bus:Director2 2023-02-28 09365456 uk-core:BetweenTwoFiveYears 2023-02-28 09365456 uk-core:BetweenTwoFiveYears 2024-02-27 iso4217:GBP xbrli:pure 09365456 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-27 09365456 uk-bus:FRS102 2023-03-01 2024-02-27 09365456 uk-bus:FilletedAccounts 2023-03-01 2024-02-27 09365456 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-27
S & G Trading (Torquay) Limited
Registered Number:09365456
For the period ended 27 February 2024
England and Wales
Unaudited Financial Statements
2
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
3
Registered Number :
09365456
As at 27 February 2024
S & G Trading (Torquay) Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
72,000
81,000
2
Property, plant and equipment
58,101
73,151
3
130,101
154,151
Current assets
Inventories
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)
Capital and reserves
Called up share capital
100
100
Retained earnings
(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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4
Registered Number :
09365456
For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Statement of Financial Position Continued
G Van Blankenstein Director
S J Perry 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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5
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
Registered address:
13 - 14 Victoria Parade
Torquay
Devon
TQ1 2BB
The presentation currency is £ sterling.
1. Accounting policies
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
25% Reducing balance
33% Straight line
Leased equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
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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6
For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 March 2023
123,448
At 27 February 2024
123,448
Amortisation
At 01 March 2023
42,448
9,000
Charge for period
At 27 February 2024
51,448
Net book value
At 27 February 2024
72,000
At 28 February 2023
81,000
3. Property, plant and equipment
Total
Leased
equipment
Fixtures &
equipment
Motor vehicles
Leasehold
Improvements
£
£
£
£
£
Cost or
valuation
At 01 March 2023
213,931
12,921
122,351
20,301
58,358
4,317
-
4,317
-
-
Additions
At 27 February 2024
20,301
126,668
12,921
218,248
58,358
Provision for depreciation and impairment
At 01 March 2023
140,780
12,921
74,467
8,881
44,511
Charge for period
19,367
-
13,050
2,855
3,462
At 27 February 2024
160,147
12,921
87,517
11,736
47,973
At 27 February 2024
Net book value
10,385
8,565
39,151
-
58,101
At 28 February 2023
13,847
11,420
47,884
-
73,151
4. Inventories
2023
2024
£
£
Stocks
13,204
10,935
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7
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
£
£
Other debtors
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
Bank loans and overdraft
9,497
-
Trade creditors
38,183
42,876
Taxation and social security
55,571
78,707
Other creditors
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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8
For the period ended 27 February 2024
S & G Trading (Torquay) Limited
Notes to the Financial Statements Continued
9. Directors advances and guarantees
At 01/03/2023
Loaned
Repaid
At 27/02/2024
£
£
£
£
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
Lease 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
-
Within 1 year
64,000
24,100
Within 2 to 5 years
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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