Mereview Taverns Limited Filleted accounts for Companies House (small and micro)

Mereview Taverns Limited Filleted accounts for Companies House (small and micro)

MEREVIEW TAVERNS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 11736647
Mereview Taverns Limited
Filleted Unaudited Abridged Financial Statements
31 December 2022
Mereview Taverns Limited
Abridged Financial Statements
Year Ended 31 December 2022
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 6
Mereview Taverns Limited
Officers and Professional Advisers
The board of directors
Mr J P Capper
Mrs V Capper
Registered office
A1 Doddington Road
Chatteris
Cambs
United Kingdom
PE16 6UA
Accountants
SR Howell & Co
Chartered Certified Accountants
88 High Street
Ramsey
Huntingdon
Cambs
PE26 1BS
Mereview Taverns Limited
Abridged Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
10,711
12,418
Current assets
Stocks
4,297
2,544
Debtors
4,187
2,801
Cash at bank and in hand
10,232
21,155
--------
--------
18,716
26,500
Creditors: amounts falling due within one year
17,542
16,239
--------
--------
Net current assets
1,174
10,261
--------
--------
Total assets less current liabilities
11,885
22,679
Creditors: amounts falling due after more than one year
13,415
18,548
--------
--------
Net (liabilities)/assets
( 1,530)
4,131
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,630)
4,031
-------
-------
Shareholders (deficit)/funds
( 1,530)
4,131
-------
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 ;
- 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 .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Mereview Taverns Limited
Abridged Statement of Financial Position (continued)
31 December 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 25 September 2023 , and are signed on behalf of the board by:
Mr J P Capper
Director
Company registration number: 11736647
Mereview Taverns Limited
Notes to the Abridged Financial Statements
Year Ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A1 Doddington Road, Chatteris, Cambs, PE16 6UA, United Kingdom.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures & fittings
-
20% reducing balance
Equipment
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2021: 4 ).
5. Tangible assets
£
Cost
At 1 January 2022
20,669
Additions
950
--------
At 31 December 2022
21,619
--------
Depreciation
At 1 January 2022
8,251
Charge for the year
2,657
--------
At 31 December 2022
10,908
--------
Carrying amount
At 31 December 2022
10,711
--------
At 31 December 2021
12,418
--------
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Two directors
( 438)
7
( 431)
----
----
----
2021
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Two directors
( 1,903)
1,465
( 438)
-------
-------
----