ACCOUNTS - Final Accounts

GOOD TIMES HOSPITALITY LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-314No description of principal activity2021-01-01truefalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09450935 2021-01-01 2021-12-31 09450935 2020-01-01 2020-12-31 09450935 2021-12-31 09450935 2020-12-31 09450935 c:Director2 2021-01-01 2021-12-31 09450935 c:Director3 2021-01-01 2021-12-31 09450935 c:Director4 2021-01-01 2021-12-31 09450935 c:RegisteredOffice 2021-01-01 2021-12-31 09450935 d:CurrentFinancialInstruments 2021-12-31 09450935 d:CurrentFinancialInstruments 2020-12-31 09450935 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09450935 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 09450935 d:ShareCapital 2021-12-31 09450935 d:ShareCapital 2020-12-31 09450935 d:RetainedEarningsAccumulatedLosses 2021-12-31 09450935 d:RetainedEarningsAccumulatedLosses 2020-12-31 09450935 c:OrdinaryShareClass1 2021-01-01 2021-12-31 09450935 c:OrdinaryShareClass1 2021-12-31 09450935 c:OrdinaryShareClass1 2020-12-31 09450935 c:FRS102 2021-01-01 2021-12-31 09450935 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 09450935 c:FullAccounts 2021-01-01 2021-12-31 09450935 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09450935 4 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09450935

GOOD TIMES HOSPITALITY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

GOOD TIMES HOSPITALITY LIMITED

CONTENTS

	Page
Company information	1
Balance sheet	2
Notes to the financial statements	3 - 5

GOOD TIMES HOSPITALITY LIMITED

COMPANY INFORMATION

Directors	J C Barnet (appointed 29 March 2021)
	A Maccuish
	T McNicholl (appointed 29 March 2021)
	E J A Warren (appointed 29 June 2021)

Registered number	09450935


Registered office	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH


Accountants	Blick Rothenberg Limited
	Chartered Accountants
	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH

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REGISTERED NUMBER:09450935

GOOD TIMES HOSPITALITY LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	3		3
Creditors: amounts falling due within one year	6	(132,606)		(132,106)
Net current liabilities			(132,603)		(132,103)

Net liabilities			(132,603)		(132,103)

Capital and reserves
Called up share capital	7	3	3
Profit and loss account		(132,606)	(132,106)
Total deficit		(132,603)	(132,103)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and in accordance with Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

___________________________

T McNicholl

Director

Date: 29 March 2022

The notes on pages 3 to 5 form part of these financial statements.

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GOOD TIMES HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Good Times Hospitality Limited is a private company limited by shares and registered in England and Wales. The company’s registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

As at the balance sheet date, the company's liabilities exceeded assets by £132,603 (2020 - £132,103). Since the balance sheet date, the company’s directors and shareholders have decided that the company is no longer required and have decided to wind up the affairs of the company. The striking off process of the company has not yet formally commenced.

2.3

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial liabilities
Basic financial liabilities, including other creditors, loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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GOOD TIMES HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

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GOOD TIMES HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

3.	Turnover
	An analysis of turnover by class of business is as follows:

Analysis of turnover by country of destination:

Employees

The average monthly number of employees, including directors, during the year was 4 (2020 -2).

5.	Debtors: Amounts falling due within one year

					2021	2020
					£	£


Amounts owed by group undertakings	3	3

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Amounts owed to group undertakings	132,106	131,606
Accruals	500	500
	132,606	132,106

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

3 (2020 -3) Ordinary shares of £1.00 each	3	3

8.	Controlling party

The smallest group for which consolidated financial statements are drawn up is Sunshine Partners Group Limited whose registered office address is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.

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