Sorrel Restaurant Ltd
Registered number: 10420330
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 59,642 77,814
Current assets
Stocks 11,969 10,703
Debtors 5 145,952 19,404
Cash at bank and in hand 89,199 196,429
247,120 226,536
Creditors: amounts falling due within one year 6 (170,108) (163,652)
Net current assets 77,012 62,884
Total assets less current liabilities 136,654 140,698
Provisions for liabilities (14,442) (18,673)
Net assets 122,212 122,025
Capital and reserves
Called up share capital 100 100
Profit and loss account 122,112 121,925
Shareholders' funds 122,212 122,025
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 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.
SR Drake
Director
Approved by the board on 11 August 2025
Sorrel Restaurant Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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.
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 10 years
Fixtures & fittings 10% straight line
Plant and machinery 25% straight line
Inventories
Inventories 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, 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. 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.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 21 21
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 18,218
At 31 March 2025 18,218
Amortisation
At 1 April 2024 18,218
At 31 March 2025 18,218
Net book value
At 31 March 2025 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 12,497 42,384 231,710 286,591
Additions - 7,601 2,424 10,025
At 31 March 2025 12,497 49,985 234,134 296,616
Depreciation
At 1 April 2024 9,373 33,182 166,222 208,777
Charge for the year 1,250 3,580 23,367 28,197
At 31 March 2025 10,623 36,762 189,589 236,974
Net book value
At 31 March 2025 1,874 13,223 44,545 59,642
At 31 March 2024 3,124 9,202 65,488 77,814
5 Debtors 2025 2024
£ £
Prepayments 25,799 11,533
Other debtors 120,153 7,871
145,952 19,404
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 43,152 34,339
Accruals 10,673 7,641
Corporation tax 37,803 69,209
Other taxes and social security costs 44,394 33,409
Other creditors 34,086 19,054
170,108 163,652
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
SR Drake
Repayable on demand 7,871 - 418 7,453
7,871 - 418 7,453
8 Other information
Sorrel Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Sorrel
77 South Street
Dorking
Surrey
RH4 2JU
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