Registration number:
Sea Shanty Restaurants Limited
for the Year Ended 28 September 2024
Sea Shanty Restaurants Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Sea Shanty Restaurants Limited
Company Information
Directors |
PL Brown N Gitton |
Registered office |
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Accountants |
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Sea Shanty Restaurants Limited
(Registration number: 08164075)
Balance Sheet as at 28 September 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
310,010 |
310,010 |
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Retained earnings |
588,634 |
480,194 |
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Shareholders' funds |
898,644 |
790,204 |
For the financial year ending 28 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Sea Shanty Restaurants Limited
(Registration number: 08164075)
Balance Sheet as at 28 September 2024
Approved and authorised by the
.........................................
Director
.........................................
Director
Sea Shanty Restaurants Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Wales
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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 Section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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.
The presentation currency of the financial statements is Pound Sterling (£).
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.
Government grants
Government grants in relation to expenditure are credited to the profit and loss account when the expenditure is charged to the profit and loss.
Tax
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.
Sea Shanty Restaurants Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Fixtures and fittings |
10% on cost |
Computer equipment |
33% on cost |
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
Short-term employee benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.
The company operates a defined benefits contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.
Sea Shanty Restaurants Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost |
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At 29 September 2023 |
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Additions |
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At 28 September 2024 |
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Depreciation |
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At 29 September 2023 |
- |
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Charge for the year |
- |
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At 28 September 2024 |
- |
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Carrying amount |
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At 28 September 2024 |
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At 28 September 2023 |
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Included within the net book value of land and buildings above is £1,369,814 (2023 - £1,340,274) in respect of freehold land and buildings.
Sea Shanty Restaurants Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024
Stocks |
2024 |
2023 |
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Stock |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Sea Shanty Restaurants Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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310,000 |
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310,000 |
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7 |
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7 |
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1 |
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1 |
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1 |
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1 |
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1 |
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1 |
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Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Bank borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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Bank borrowings
Bank loan is secured on all assets of the company. |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £