Grain Hospitality Limited - Period Ending 2023-03-31
Grain Hospitality Limited - Period Ending 2023-03-31
Registration number:
Grain Hospitality Limited
for the Year Ended 31 March 2023
Grain Hospitality Limited
Contents
Abridged Balance Sheet |
|
Notes to the Abridged Financial Statements |
Grain Hospitality Limited
(Registration number: 09543583)
Abridged Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr S A Middle
Director
Grain Hospitality Limited
Notes to the Abridged Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The Directors have considered the ability of the company to meet its liabilities as they fall due and given the nature of the sector, have sufficient liquidity to satisfy its creditors.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Grain Hospitality Limited
Notes to the Abridged Financial Statements for the Year Ended 31 March 2023
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
Straight line over 20 years |
Plant and machinery |
25% straight line |
Fixture, fittings and equipment |
25% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Auditors' remuneration |
2023 |
2022 |
|
Audit of the financial statements |
|
- |
Grain Hospitality Limited
Notes to the Abridged Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Total |
|
Cost or valuation |
|
At 1 April 2022 |
|
Additions |
|
At 31 March 2023 |
|
Depreciation |
|
At 1 April 2022 |
|
Charge for the year |
|
At 31 March 2023 |
|
Carrying amount |
|
At 31 March 2023 |
|
At 31 March 2022 |
|
Included within the net book value of land and buildings above is £4,548 (2022 - £4,806) in respect of short leasehold land and buildings.