Company Registration No. 05480333 (England and Wales)
B & L Franco's of Longridge Limited
Unaudited accounts
for the year ended 30 June 2023
B & L Franco's of Longridge Limited
Unaudited accounts
Contents
B & L Franco's of Longridge Limited
Company Information
for the year ended 30 June 2023
Directors
Luigi Molinari
Barbara Molinari
Company Number
05480333 (England and Wales)
Registered Office
FRANCO'S RESTAURANT
244 PRESTON ROAD
ALSTON, LONGRIDGE
PRESTON
PR3 3BD
B & L Franco's of Longridge Limited
Statement of financial position
as at 30 June 2023
Tangible assets
45,020
55,009
Cash at bank and in hand
120,046
175,220
Creditors: amounts falling due within one year
(59,259)
(69,889)
Net current assets
34,232
79,158
Total assets less current liabilities
79,252
134,167
Creditors: amounts falling due after more than one year
(29,352)
(119,205)
Called up share capital
99
99
Profit and loss account
49,801
14,863
Shareholders' funds
49,900
14,962
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by
Luigi Molinari
Director
Company Registration No. 05480333
B & L Franco's of Longridge Limited
Notes to the Accounts
for the year ended 30 June 2023
B & L Franco's of Longridge Limited is a private company, limited by shares, registered in England and Wales, registration number 05480333. The registered office is FRANCO'S RESTAURANT, 244 PRESTON ROAD, ALSTON, LONGRIDGE, PRESTON, PR3 3BD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% on reducing balance
Plant & machinery
12.5% on reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
B & L Franco's of Longridge Limited
Notes to the Accounts
for the year ended 30 June 2023
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.
The accounts are presented in £ sterling.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 July 2022
45,377
26,517
71,894
Disposals
-
(6,415)
(6,415)
At 30 June 2023
51,738
20,102
71,840
At 1 July 2022
4,446
12,439
16,885
Charge for the year
8,175
1,760
9,935
At 30 June 2023
12,621
14,199
26,820
At 30 June 2023
39,117
5,903
45,020
At 30 June 2022
40,931
14,078
55,009
Amounts falling due within one year
Trade debtors
(34,615)
(38,169)
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
(18,719)
37,455
Taxes and social security
30,623
33,088
Other creditors
23,800
3,994
B & L Franco's of Longridge Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 35 (2022: 38).