Southgate Restaurants Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00765251 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Southgate Restaurants Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F John

Mrs M John

REGISTERED OFFICE:

C/O Arthur John & Co

43, High Street

Cowbridge

CF71 7YG

REGISTERED NUMBER:

00765251 (England and Wales)

ACCOUNTANTS:

Macey Owen Limited

5, Willow Walk

Cowbridge

Vale of Glamorgan

CF71 7EE

FIXED ASSETS

Investment property

4

525,000

600,000

CURRENT ASSETS

Debtors

3,425

2,760

Cash at bank

52,042

16,838

55,467

19,598

CREDITORS

Amounts falling due within one year

(40,703

)

(10,230

)

NET CURRENT ASSETS

14,764

9,368

TOTAL ASSETS LESS CURRENT LIABILITIES

539,764

609,368

PROVISIONS FOR LIABILITIES

(101,892

)

(116,892

)

NET ASSETS

437,872

492,476

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

407,567

467,567

Retained earnings

30,205

24,809

SHAREHOLDERS' FUNDS

437,872

492,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 December 2017 and were signed on its behalf by:

Mrs F John - Director

Mrs M John - Director

1.	STATUTORY INFORMATION

Southgate Restaurants 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is

recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

600,000

Revaluations

(75,000

)

At 31 March 2017

525,000

NET BOOK VALUE

At 31 March 2017

525,000

At 31 March 2016

600,000

The directors are of the opinion the market value of the investment property was £600,000 as at 31 March 2016. No

depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £15,541 (2014 - £15,541), and aggregate

depreciation of £15.541 (2014 - £15,541).

5.	ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.