Shores Community Diner Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06459499 (England and Wales)

Shores Community Diner Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

Mrs L Healing

Mrs J Sturt

Mrs A Illingworth

Mrs C Laycock

SECRETARY:

Mrs J Nendick

REGISTERED OFFICE:

29 - 31 Seaside Road

Withernsea

East Yorkshire

HU19 2DL

REGISTERED NUMBER:

06459499 (England and Wales)

ACCOUNTANTS:

Southgates

Chartered Certified Accountants

Owthorne Manor

2 Hubert Street

Withernsea

East Yorkshire

HU19 2AT

FIXED ASSETS

Tangible assets

4

786

1,047

CURRENT ASSETS

Stocks

5

500

500

Debtors

6

891

947

Cash at bank and in hand

2,507

2,001

3,898

3,448

CREDITORS

Amounts falling due within one year

7

48,292

48,292

NET CURRENT LIABILITIES

(44,394

)

(44,844

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(43,608

)

(43,797

)

CREDITORS

Amounts falling due after more than one year

8

56,311

64,493

NET LIABILITIES

(99,919

)

(108,290

)

RESERVES

Income and expenditure account

(99,919

)

(108,290

)

(99,919

)

(108,290

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 surplus or deficit 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2021 and were signed on its behalf by:

Mrs L Healing - Director

1.	STATUTORY INFORMATION

Shores Community Diner Limited is a private company, limited by guarantee , 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Government grants

Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as income in the profit and loss account in the period they are receivable.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

4,774

DEPRECIATION

At 1 April 2020

3,727

Charge for year

261

At 31 March 2021

3,988

NET BOOK VALUE

At 31 March 2021

786

At 31 March 2020

1,047

5.

STOCKS

2021

2020

£

£

Stocks

500

500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

100

Other debtors

73

-

Prepayments

818

847

891

947

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

48,292

48,292

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other loans - 2-5 years

56,311

64,493

9.	COMPANY LIMITED BY GUARANTEE

The company is Limited by Guarantee. Every member undertakes to contribute an amount not exceeding £10.00 to the company's assets if it should be wound up while he or she is a member or within one year of ceasing to be a member.

10.	GOING CONCERN

At the balance sheet date the company had a balance sheet deficit of £99,919. The ability of the company to continue as a going concern is dependent on the continued support of the Southern Holderness Resource Centre. There is no indication that this support will not continue in the future.