Dexters Hospitality Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09518229 (England and Wales)

DEXTERS HOSPITALITY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Luck

REGISTERED OFFICE:

Dexters on the Quay

Coracle Way

Carmarthen

Carmarthenshire

SA31 3JP

REGISTERED NUMBER:

09518229 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Intangible assets

4

-

16,000

Tangible assets

5

237,534

255,828

Investments

6

150,516

135,004

388,050

406,832

CURRENT ASSETS

Stocks

15,400

19,500

Debtors

7

14,428

9,121

Cash at bank and in hand

532,886

384,857

562,714

413,478

CREDITORS

Amounts falling due within one year

8

484,542

342,786

NET CURRENT ASSETS

78,172

70,692

TOTAL ASSETS LESS CURRENT LIABILITIES

466,222

477,524

CREDITORS

Amounts falling due after more than one year

9

(104,180

)

(119,133

)

PROVISIONS FOR LIABILITIES

(11,545

)

(15,598

)

NET ASSETS

350,497

342,793

CAPITAL AND RESERVES

Called up share capital

14

12

Retained earnings

350,483

342,781

350,497

342,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2024 and were signed by:

A M Luck - Director

1.	STATUTORY INFORMATION

Dexters Hospitality Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Long leasehold

-

in accordance with the property lease

Fixtures and equipment

-

20% on cost

Motor vehicles

-

20% on cost

Stocks

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

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with any changes recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2022 - 56 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2022

and 31 July 2023

80,000

AMORTISATION

At 1 August 2022

64,000

Amortisation for year

16,000

At 31 July 2023

80,000

NET BOOK VALUE

At 31 July 2023

-

At 31 July 2022

16,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

equipment

vehicles

Totals

£

£

£

£

COST

At 1 August 2022

and 31 July 2023

205,915

80,235

37,795

323,945

DEPRECIATION

At 1 August 2022

12,480

50,267

5,370

68,117

Charge for year

2,080

10,095

6,119

18,294

At 31 July 2023

14,560

60,362

11,489

86,411

NET BOOK VALUE

At 31 July 2023

191,355

19,873

26,306

237,534

At 31 July 2022

193,435

29,968

32,425

255,828

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2022

135,004

Additions

463,437

Disposals

(314,200

)

Revaluations

(208,725

)

Reversal of impairments

75,000

At 31 July 2023

150,516

NET BOOK VALUE

At 31 July 2023

150,516

At 31 July 2022

135,004

Cost or valuation at 31 July 2023 is represented by:

**ERROR**

£

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

UNLISTED INVESTMENTS

'COST' ACCOUNT TOTAL

Cost/valuation b/f

135,004

Additions

463,437

Disposals

(314,200

)

Revaluations

(208,725

)

Reversal of impairments

75,000

150,516

CLIENT SCREEN TOTAL

=

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

10,428

9,121

Other debtors

4,000

-

14,428

9,121

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,780

11,038

Trade creditors

90,289

19,921

Amounts owed to group undertakings

202,715

76,326

Taxation and social security

119,920

137,169

Other creditors

60,838

98,332

484,542

342,786

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

104,180

119,133

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

53,406

70,613