Southgate Restaurants Limited - Accounts to registrar (filleted) - small 18.2

Southgate Restaurants Limited - Accounts to registrar (filleted) - small 18.2

SOUTHGATE RESTAURANTS LIMITED - Company Information

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REGISTERED NUMBER: 00765251 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Southgate Restaurants Limited
Southgate Restaurants Limited (Registered number: 00765251)

Contents of the Financial Statements
for the Year Ended 31 March 2022










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Southgate Restaurants Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mrs F John
Mrs M John





REGISTERED OFFICE: C/O Arthur John & Co
43, High Street
Cowbridge
CF71 7YG





REGISTERED NUMBER: 00765251 (England and Wales)





ACCOUNTANTS: Macey Owen Limited
5, Willow Walk
Cowbridge
Vale of Glamorgan
CF71 7EE
Page 1
Southgate Restaurants Limited (Registered number: 00765251)

Abridged Statement of Financial Position
31 March 2022

31/3/22 31/3/21
Notes £    £   
FIXED ASSETS
Tangible assets 4 543 1,054
Investment property 5 529,200 529,290
529,743 530,344

CURRENT ASSETS
Cash at bank 45,332 51,434

CREDITORS
Amounts falling due within one year (32,153 ) (37,689 )
NET CURRENT ASSETS 13,179 13,745
TOTAL ASSETS LESS CURRENT
LIABILITIES
542,922
544,089

PROVISIONS FOR LIABILITIES (101,892 ) (101,892 )
NET ASSETS 441,030 442,197

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 407,567 407,567
Retained earnings 33,363 34,530
SHAREHOLDERS' FUNDS 441,030 442,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
Southgate Restaurants Limited (Registered number: 00765251)

Abridged Statement of Financial Position - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 September 2022 and were signed on its behalf by:





Mrs F John - Director


The notes form part of these financial statements

Page 3
Southgate Restaurants Limited (Registered number: 00765251)

Notes to the Financial Statements
for the Year Ended 31 March 2022


1. STATUTORY INFORMATION

Southgate Restaurants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investment properties are revalued annually at their open market value. The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than the measure of consumption and so to depreciate them would not give a true and fair view.

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

Page 4 continued...
Southgate Restaurants Limited (Registered number: 00765251)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021
and 31 March 2022 2,544
DEPRECIATION
At 1 April 2021 1,490
Charge for year 511
At 31 March 2022 2,001
NET BOOK VALUE
At 31 March 2022 543
At 31 March 2021 1,054

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021
and 31 March 2022 529,516
DEPRECIATION
At 1 April 2021 226
Charge for year 90
At 31 March 2022 316
NET BOOK VALUE
At 31 March 2022 529,200
At 31 March 2021 529,290

The directors are of the opinion the market value of the investment property was £525,000 as at 31 March 2022. No depreciation is provided in respect of these properties but depreciation has been calculated on any improvements.

On an historical cost basis these would have been included at an original cost of £15,541 (2021 - £15,541), and aggregate depreciation of £15.541 (2021 - £15,541).

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2021 - £23,000) were paid to the directors .

7. ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.

Page 5