Prego Restaurant (Carluke) Ltd Filleted accounts for Companies House (small and micro)
Prego Restaurant (Carluke) Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
SC307423
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For the year ended |
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Abridged Financial Statements |
Year ended 31 March 2021
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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-------- |
-------- |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
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--------- |
--------- |
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Net current assets/(liabilities) |
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(
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--------- |
-------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Provisions |
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--------- |
-------- |
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Net assets |
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--------- |
-------- |
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Abridged Statement of Financial Position (continued) |
2021 |
2020 |
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Note |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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-------- |
------- |
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Shareholders funds |
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-------- |
------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 December 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
SC307423
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Notes to the Abridged Financial Statements |
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Mechanics Workshop, New Lanark, Lanark, ML11 9DB.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
Revenue recognition
Taxation
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property |
- |
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Plant and machinery |
- |
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Fixture and fittings |
- |
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Motor Vehicles |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Investments are measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
25
(2020:
29
).
5.
Tangible assets
£ |
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Cost |
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At 1 April 2020 |
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Additions |
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--------- |
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At 31 March 2021 |
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--------- |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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--------- |
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At 31 March 2021 |
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--------- |
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Carrying amount |
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At 31 March 2021 |
90,251 |
--------- |
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At 31 March 2020 |
99,258 |
--------- |
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6.
Investments
£ |
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Cost |
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At 1 April 2020 and 31 March 2021 |
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---- |
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Impairment |
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At 1 April 2020 and 31 March 2021 |
– |
---- |
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Carrying amount |
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At 31 March 2021 |
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---- |
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At 31 March 2020 |
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---- |
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7.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021 |
2020 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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-------- |
-------- |
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8.
Charges on assets
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £5,040 (2020 - £83,108).
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021 |
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Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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(
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(
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(
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(
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(
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(
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-------- |
-------- |
--------- |
------- |
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(
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(
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-------- |
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2020 |
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Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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12,613
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(
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13,406
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(
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(
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4,666
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(
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(
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2,843
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------- |
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(
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(
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------- |
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10.
Related party transactions
During the year, the company paid dividends of £84,000 (2020 - £50,000) to the directors.