Registered number
10042011
MYSE HOVINGHAM LIMITED
Filleted Accounts
31 March 2025
MYSE HOVINGHAM LIMITED
Registered number: 10042011
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 75,627 71,085
Current assets
Stocks 30,581 16,220
Debtors 4 251,685 161,586
Cash at bank and in hand 34,386 67,064
316,652 244,870
Creditors: amounts falling due within one year 5 (302,728) (231,252)
Net current assets 13,924 13,618
Total assets less current liabilities 89,551 84,703
Creditors: amounts falling due after more than one year 6 (12,511) (25,089)
Net assets 77,040 59,614
Capital and reserves
Called up share capital 65,100 65,100
Profit and loss account 11,940 (5,486)
Shareholders' funds 77,040 59,614
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V ROBERTS
Director
Approved by the board on 25 June 2025
MYSE HOVINGHAM LIMITED
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
General information and basis of preparation
Myse Hovingham Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £000.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 43,760 31,169 74,929
Additions 485 10,475 10,960
At 31 March 2025 44,245 41,644 85,889
Depreciation
At 1 April 2024 3,089 755 3,844
Charge for the year 3,440 2,978 6,418
At 31 March 2025 6,529 3,733 10,262
Net book value
At 31 March 2025 37,716 37,911 75,627
At 31 March 2024 40,671 30,414 71,085
4 Debtors 2025 2024
£ £
Trade debtors 2,442 1,667
Inter-company Debtors 222,796 121,011
Directors' current account 26,447 38,908
251,685 161,586
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 11,680 10,782
Trade creditors 48,948 26,985
Taxation and social security costs 83,501 77,970
Other creditors 138,599 105,515
Other loans 20,000 10,000
302,728 231,252
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 12,511 25,089
7 Other information
MYSE HOVINGHAM LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Restaurant Myse Main Street
Hovingham,
York
YO62 4LF
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