Company Registration No. 03473125 (England and Wales)
The Seashell of Lisson Grove Limited
Unaudited accounts
for the year ended 31 December 2024
The Seashell of Lisson Grove Limited
Unaudited accounts
Contents
The Seashell of Lisson Grove Limited
Company Information
for the year ended 31 December 2024
Directors
Shai Ross DAVIS
Andre John Argus MISSO
Secretary
Andre John Argus MISSO
Company Number
03473125 (England and Wales)
Registered Office
Office G14, Moulton Park Business Centre
Northampton
Northamptonshire
NN3 6AQ
United Kingdom
Accountants
The Tax Shop Group Ltd
Moulton Park Business Centre
Redhouse Road
Northampton
Northamptonshire
NN3 6AQ
The Seashell of Lisson Grove Limited
Statement of financial position
as at 31 December 2024
Tangible assets
152,435
200,156
Cash at bank and in hand
91,803
89,147
Creditors: amounts falling due within one year
(1,349,425)
(1,286,460)
Net current liabilities
(1,094,836)
(1,066,600)
Total assets less current liabilities
(942,398)
(866,441)
Creditors: amounts falling due after more than one year
(5,123)
(14,976)
Provisions for liabilities
Other provisions
(3,445)
(3,445)
Net liabilities
(950,966)
(884,862)
Called up share capital
1
1
Profit and loss account
(950,967)
(884,863)
Shareholders' funds
(950,966)
(884,862)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by
Andre John Argus MISSO
Director
Company Registration No. 03473125
The Seashell of Lisson Grove Limited
Notes to the Accounts
for the year ended 31 December 2024
The Seashell of Lisson Grove Limited is a private company, limited by shares, registered in England and Wales, registration number 03473125. The registered office is Office G14, Moulton Park Business Centre, Northampton, Northamptonshire, NN3 6AQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Covid-19 had a significant impact to the hospitality sector throughout 2020 and 2021 which required the management to adapt how the company operates. The restaurant has opened when possible in compliance with government guidance with the restaurant running at restricted capacity and the takeaway continuing to be busy.
The company continues to rely on the support of its shareholders by including not requiring repayment of creditors on the balance sheet of £904,424 and by the landlord allowing the company a rent holiday for the 2023 period.
Revenue is recognised to the extent that it is probable that economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover arises from restaurant sales recognised at the point of supply of the meal.
The Seashell of Lisson Grove Limited
Notes to the Accounts
for the year ended 31 December 2024
2.4 Operating lease: Company as lessee
Rental paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
The Company has taken advantage of the optional exemption available on the transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Goodwill
Goodwill represents the difference between amounts paid to the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.
2.7 Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Land & buildings
6%-10% Straight line basis
Plant & machinery
4%/10%/30% Straight line basis
Fixtures & fittings
10% Straight line basis
Stocks are stated at the lower of cost and net realisable value, being the estimated selling prices less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If the stock is 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.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.10 Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with the insignificant risk of change in value.
The Seashell of Lisson Grove Limited
Notes to the Accounts
for the year ended 31 December 2024
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
At 1 January 2024
1,302,798
At 31 December 2024
1,312,409
At 1 January 2024
1,102,642
Charge for the year
57,332
At 31 December 2024
1,159,974
At 31 December 2024
152,435
At 31 December 2023
200,156
6
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
50,000
-
Later than one year and not later than five years
50,000
-
7
Transactions with related parties
Included in Other Creditors at the balance sheet date is £1,028,366 (2023: £904,424) due to participators.
The Seashell of Lisson Grove Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 23 (2023: 23).