Smoke & Salt Hospitality Group Ltd - Accounts to registrar (filleted) - small 18.2
Smoke & Salt Hospitality Group Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2020 |
| for |
| Smoke & Salt Hospitality Group Ltd |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Smoke & Salt Hospitality Group Ltd |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3 Sheen Road |
| Richmond Upon Thames |
| Surrey |
| TW9 1AD |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Balance Sheet |
| 31 May 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Balance Sheet - continued |
| 31 May 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Smoke & Salt Hospitality Group Ltd is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| 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 is reduced for estimated customer returns, rebates and other similar allowances. |
| Sale of goods |
| Turnover from the sale of goods is reconginsed when significant risk and rewards of ownership of the goods has transferred to the buyer. This usually take at the point that the customer has signed the delivery of goods. |
| Rendering of services |
| Turnover from the rendering of services is recognised by reference to the stage of completion of contract. The stage of completion of contract is measured by comparing the costs incurred for work performed to date to the total of estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of the contract cannot be estimated reliably. |
| TANGIBLE FIXED ASSETS |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Plant and machinery | : | 5 % Straight line method |
| Computer equipment | : | 33% Straight line method |
| Leasehold | : | 11% Straight line method |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Computer |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2019 |
| Additions |
| At 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Paye NI liability |
| Pension Liability | 298 | 397 |
| VAT | 971 | 3,966 |
| Other creditors |
| Funders Loan Account | - | 736 |
| Net wages | - | 7,976 |
| Directors' loan accounts | 13,498 | 12,943 |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other loans - 1-2 years |
| Santander bounce back loan | 50,000 | - |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Santander bounce back loan | 50,000 | - |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | 0.000005 | 1 | 1 |
| 41,641 Ordinary shares of 0.000005 each were allotted as fully paid |
| 9. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 June 2019 | ( |
) | (30,502 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Cash share issue | - | 153,239 | 153,239 |
| At 31 May 2020 | ( |
) | 74,668 |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, included in creditors is an amount owed to the directors and shareholders, Mr O Williams & Mr A Webster for the sum of £13,498 (2019: £12,943). |
| 11. | POST BALANCE SHEET EVENTS |
| Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the company continues to operates using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success. |
| Smoke & Salt Hospitality Group Ltd (Registered number: 10163379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The directors Mr. O Williams & Mr A Webster control the company by virtue of their shareholdings. |