| Sowena Taverns Limited |
| Registered Number: 06055700 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
54,000 |
|
|
58,500 |
| Tangible assets |
3 |
|
|
341,976 |
|
|
353,008 |
|
|
|
|
395,976 |
|
|
411,508 |
|
| Current assets |
| Debtors |
|
|
277 |
|
|
- |
|
| Creditors: amounts falling due within one year |
|
|
(644,504) |
|
|
(608,795) |
|
| Net current liabilities |
|
|
|
(644,227) |
|
|
(608,795) |
|
| Total assets less current liabilities |
|
|
|
(248,251) |
|
|
(197,287) |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(316,651) |
|
|
(328,212) |
|
|
|
| Net liabilities |
|
|
|
(564,902) |
|
|
(525,499) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
(565,902) |
|
|
(526,499) |
|
| Shareholders' funds |
|
|
|
(564,902) |
|
|
(525,499) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Peter Stroud |
| Director |
| Approved by the board on 29 December 2015 |
|
| Sowena Taverns Limited |
| Registered Number: 06055700 |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Land and buildings |
2% straight line |
|
Fixtures, fittings and equipment |
25% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Goodwill |
|
Acquired Goodwill is written off in equal annual instalments over its estimated useful economic life which is deemed to be 20 years. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Going concern |
|
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for the foreseeable future and have agreed not to seek repayment of their loans until the company has sufficient liquid assets to allow for repayment. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
90,000 |
|
At 31 March 2015 |
90,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2014 |
31,500 |
|
Provided during the year |
4,500 |
|
At 31 March 2015 |
36,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
54,000 |
|
At 31 March 2014 |
58,500 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
468,898 |
|
At 31 March 2015 |
468,898 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
115,890 |
|
Charge for the year |
11,032 |
|
At 31 March 2015 |
126,922 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
341,976 |
|
At 31 March 2014 |
353,008 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
