The Worthing Well Ltd 14192174 true 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Public House and bar. Digita Accounts Production Advanced 6.30.9574.0 true true 14192174 2023-07-01 2024-06-30 14192174 2024-06-30 14192174 bus:Director1 1 2024-06-30 14192174 core:CurrentFinancialInstruments 2024-06-30 14192174 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 14192174 core:FurnitureFittingsToolsEquipment 2024-06-30 14192174 core:LandBuildings 2024-06-30 14192174 core:OtherPropertyPlantEquipment 2024-06-30 14192174 bus:SmallEntities 2023-07-01 2024-06-30 14192174 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14192174 bus:FilletedAccounts 2023-07-01 2024-06-30 14192174 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14192174 bus:RegisteredOffice 2023-07-01 2024-06-30 14192174 bus:Director1 2023-07-01 2024-06-30 14192174 bus:Director1 1 2023-07-01 2024-06-30 14192174 bus:EntityHasNeverTraded 2023-07-01 2024-06-30 14192174 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14192174 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 14192174 core:LandBuildings 2023-07-01 2024-06-30 14192174 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 14192174 countries:EnglandWales 2023-07-01 2024-06-30 14192174 bus:Director1 1 2023-06-30 14192174 2022-06-23 2023-06-30 14192174 2023-06-30 14192174 core:CurrentFinancialInstruments 2023-06-30 14192174 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 14192174

The Worthing Well Ltd

trading as The Signal Post

Annual Report and Unaudited Financial Statements

for the year ended 30 June 2024

 

The Worthing Well Ltd

trading as The Signal Post

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

The Worthing Well Ltd

trading as The Signal Post

(Registration number: 14192174)
Statement of Financial Position
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

42,844

-

Current assets

 

Stocks

5

13,270

-

Debtors

6

251

-

Cash at bank and in hand

 

21,371

1

 

34,892

1

Creditors: Amounts falling due within one year

7

(145,090)

-

Net current (liabilities)/assets

 

(110,198)

1

Net (liabilities)/assets

 

(67,354)

1

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(67,355)

-

Shareholders' (deficit)/funds

 

(67,354)

1

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Worthing Well Ltd

trading as The Signal Post

(Registration number: 14192174)
Statement of Financial Position
30 June 2024

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
F I T Penny
Director

 

The Worthing Well Ltd

trading as The Signal Post

Notes to the Unaudited Financial Statements
for the year ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Rowlands Road
Worthing
West Sussex
BN11 3JN

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Worthing Well Ltd

trading as The Signal Post

Notes to the Unaudited Financial Statements
for the year ended 30 June 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Worthing Well Ltd

trading as The Signal Post

Notes to the Unaudited Financial Statements
for the year ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

30,729

11,761

6,086

48,576

At 30 June 2024

30,729

11,761

6,086

48,576

Depreciation

Charge for the year

2,879

1,636

1,217

5,732

At 30 June 2024

2,879

1,636

1,217

5,732

Carrying amount

At 30 June 2024

27,850

10,125

4,869

42,844

Included within the net book value of land and buildings above is £27,850 (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

The Worthing Well Ltd

trading as The Signal Post

Notes to the Unaudited Financial Statements
for the year ended 30 June 2024

5

Stocks

2024
£

2023
£

Other inventories

13,270

-

6

Debtors

Current

2024
£

2023
£

Other debtors

251

-

 

251

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

4,671

-

Accruals and deferred income

2,050

-

Other creditors

138,369

-

145,090

-

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

F I T Penny

-

251

251