South Side Story Ltd 12072845 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is operation of restaurant and take-away food shops Digita Accounts Production Advanced 6.30.9574.0 true true 12072845 2023-07-01 2024-06-30 12072845 2024-06-30 12072845 bus:OrdinaryShareClass1 2024-06-30 12072845 core:CurrentFinancialInstruments 2024-06-30 12072845 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 12072845 core:Non-currentFinancialInstruments 2024-06-30 12072845 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 12072845 core:FurnitureFittingsToolsEquipment 2024-06-30 12072845 core:MotorVehicles 2024-06-30 12072845 bus:SmallEntities 2023-07-01 2024-06-30 12072845 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12072845 bus:FilletedAccounts 2023-07-01 2024-06-30 12072845 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12072845 bus:RegisteredOffice 2023-07-01 2024-06-30 12072845 bus:Director1 2023-07-01 2024-06-30 12072845 bus:Director2 2023-07-01 2024-06-30 12072845 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 12072845 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12072845 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 12072845 core:MotorVehicles 2023-07-01 2024-06-30 12072845 core:Vehicles 2023-07-01 2024-06-30 12072845 countries:England 2023-07-01 2024-06-30 12072845 2023-06-30 12072845 core:FurnitureFittingsToolsEquipment 2023-06-30 12072845 core:MotorVehicles 2023-06-30 12072845 2022-07-01 2023-06-30 12072845 2023-06-30 12072845 bus:OrdinaryShareClass1 2023-06-30 12072845 core:CurrentFinancialInstruments 2023-06-30 12072845 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12072845 core:Non-currentFinancialInstruments 2023-06-30 12072845 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 12072845 core:FurnitureFittingsToolsEquipment 2023-06-30 12072845 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12072845

South Side Story Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

South Side Story Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

South Side Story Ltd

Company Information

Directors

Mr Sofiul Alam

Ms Joanne O'Sullivan

Registered office

31 St Johns Hill
Clapham
London
SW11 1SZ

Accountants

Aims Accountants
84Crantock Road
London
London
SE6 2QP

 

South Side Story Ltd

(Registration number: 12072845)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,048

60,064

Current assets

 

Debtors

5

19,507

27,707

Cash at bank and in hand

 

364,821

241,542

 

384,328

269,249

Creditors: Amounts falling due within one year

6

(55,983)

(67,789)

Net current assets

 

328,345

201,460

Total assets less current liabilities

 

373,393

261,524

Creditors: Amounts falling due after more than one year

6

(266,986)

(228,427)

Net assets

 

106,407

33,097

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

106,405

33,095

Shareholders' funds

 

106,407

33,097

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr Sofiul Alam
Director

 

South Side Story Ltd

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.

The address of its registered office is:
31 St Johns Hill
Clapham
London
SW11 1SZ

These financial statements were authorised for issue by the Board on 13 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

South Side Story Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Fixtures and Fittings

25% reducing balance basis

Motor Vehicles

25% reducing balance basis

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 20).

 

South Side Story Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

110,330

14,000

124,330

At 30 June 2024

110,330

14,000

124,330

Depreciation

At 1 July 2023

60,016

4,250

64,266

Charge for the year

12,578

2,438

15,016

At 30 June 2024

72,594

6,688

79,282

Carrying amount

At 30 June 2024

37,736

7,312

45,048

At 30 June 2023

50,314

9,750

60,064

5

Debtors

Current

2024
£

2023
£

Other debtors

19,507

27,707

 

19,507

27,707

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

52,702

57,728

Other creditors

3,281

10,061

55,983

67,789

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

123,819

85,753

Other non-current financial liabilities

 

143,167

142,674

 

266,986

228,427

 

South Side Story Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,583

30,478

Other borrowings

101,236

55,275

123,819

85,753

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

Interim dividend of £37,000.00 (2023 - £37,000.00) per ordinary share

64,000

74,000

64,000

74,000