Accounts filed on 31-12-2019

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			Company registration number:			04998505
SOUTHERN GRILLE & GATE LIMITED
REPORT OF THE DIRECTORS' AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2019

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SOUTHERN GRILLE & GATE LIMITED
BALANCE SHEET
AS AT 31 December 2019
					2019				2018
				Notes	£		£		£		£
FIXED ASSETS
Tangible assets				3			198,093				212,906
							198,093				212,906
CURRENT ASSETS
Stocks					170,203				142,319
Debtors					512,507				450,713
Cash at bank and in hand					114,970				256,199
					797,680				849,231
CREDITORS
Amounts falling due within one year					(379,264)				(447,585)
NET CURRENT ASSETS							418,416				401,646
TOTAL ASSETS LESS
CURRENT LIABILITIES							616,509				614,552
Creditors falling due after one year							(1,628)				(6,511)
PROVISIONS FOR LIABILITIES							(29,155)				(29,969)
NET ASSETS							585,726				578,072
CAPITAL AND RESERVES
Called-up equity share capital							100				100
Profit and loss account							585,626				577,972
SHAREHOLDERS FUNDS							585,726				578,072
For the year ending 31 December 2019 the company was entitled to exemption 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 the 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. Approved by the board of directors on 11 August 2020 and signed on its behalf.
All members have consented to the preparation of these abridged financial statements.
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A Nurse
11 August 2020
The annexed notes form part of these financial statements.

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SOUTHERN GRILLE & GATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.

Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible Assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. Before 2016 goodwill was written off in equal annual instalments over its estimated economic life of twenty years. From 2016 the estimated econimic life was revised down to five years under the new FRS102 accounting rules. The businesses were purchased in 2004 and 2007.

Foreign Currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and Machinery - 20% per annum of cost

Fixtures and Fittings - 20 - 33% per annum of cost

Motor Vehicles - 20% per annum of cost

Short term lease - 5% per annum of lease

Stocks and Work In Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Pension Scheme

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Research and Development

Expenditure on research and development is written off in the year in which it is incurred.

2.

Employees

The average number of persons employed by the company (including directors during the year was 37 (2018 : 38).

3.	Tangible fixed assets
				Total
	Cost
	At start of period			957,576
	Additions			49,242
	At end of period			1,006,818
	Depreciation
	At start of period			744,670
	Provided during the period			64,055
	At end of period			808,725
	Net Book Value
	At start of period			212,906
	At end of period			198,093

4.

Creditors due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,164 (2018 £28,587). The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.

5.

Creditors due after more than one year

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £1,628 (2018 £6,511). The bank loans are secured by a fixed and floating charge over the company's assets and the finance leases are secured on the assets concerned.