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Financial Statements For The Year Ended 30 November 2017 |
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Mussel Inn Limited |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 30 November 2017 |
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for |
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Mussel Inn Limited |
Mussel Inn Limited (Registered number: SC111821) |
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Contents of the Financial Statements |
For The Year Ended 30 November 2017 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Mussel Inn Limited |
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Company Information |
For The Year Ended 30 November 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Mussel Inn Limited (Registered number: SC111821) |
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Abridged Statement of Financial Position |
30 November 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Mussel Inn Limited (Registered number: SC111821) |
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Notes to the Financial Statements |
For The Year Ended 30 November 2017 |
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1. | STATUTORY INFORMATION |
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Mussel Inn Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous statements were prepared in accordance with UK GAAP, the date of |
transition to FRS 102 Section 1A is 1 December 2015. No adjustments were required on transition. |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the |
goods are physically delivered to the customer. |
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Tangible fixed assets |
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Heritable property | - |
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Leasehold property | - |
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Plant and machinery | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
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. |
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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 statement of financial position date. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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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. |
Mussel Inn Limited (Registered number: SC111821) |
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Notes to the Financial Statements - continued |
For The Year Ended 30 November 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2016 |
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Additions |
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Disposals | ( |
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At 30 November 2017 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 December 2016 |
and 30 November 2017 | 1 |
NET BOOK VALUE |
At 30 November 2017 | 1 |
At 30 November 2016 | 1 |
Mussel Inn Limited (Registered number: SC111821) |
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Notes to the Financial Statements - continued |
For The Year Ended 30 November 2017 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Statement of Financial Position date in the share capital of companies include |
the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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2017 | 2016 |
£ | £ |
Aggregate capital and reserves |
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6. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | RELATED PARTY DISCLOSURES |
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Parent company |
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The company is a 60% subsidiary. |
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In the year under review, the company paid administration charges totalling £7,875 (2016 - £7,875) to the parent. |
Expenses of £1,133 (2016: £1,591) were recharged by the company to the parent. |
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2017 | 2016 |
£ | £ |
Amount due to related party at the balance sheet date | 1,281 | 1,096 |