Registration number:
Turnpike Tav Ltd
for the Year Ended 31 October 2022
Turnpike Tav Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Turnpike Tav Ltd
Company Information
Director |
Mr James Brennan |
Registered office |
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Accountants |
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Turnpike Tav Ltd
Director's Report for the Year Ended 31 October 2022
The director presents his report and the abridged financial statements for the year ended 31 October 2022.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is Public House
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Turnpike Tav Ltd
for the Year Ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Turnpike Tav Ltd for the year ended 31 October 2022 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Turnpike Tav Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Turnpike Tav Ltd and state those matters that we have agreed to state to the Board of Directors of Turnpike Tav Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turnpike Tav Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Turnpike Tav Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Turnpike Tav Ltd. You consider that Turnpike Tav Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Turnpike Tav Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Grangemouth
Falkirk
FK3 8PG
Turnpike Tav Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 October 2022
Note |
2022 |
2021 |
|
Turnover |
|
- |
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Cost of sales |
( |
- |
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Gross profit |
|
- |
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Administrative expenses |
( |
- |
|
Operating loss |
( |
- |
|
Loss before tax |
( |
- |
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Loss for the financial year |
( |
- |
|
Retained earnings brought forward |
- |
- |
|
Retained earnings carried forward |
(1,223) |
- |
Turnpike Tav Ltd
(Registration number: SC678890)
Abridged Balance Sheet as at 31 October 2022
Note |
2022 |
2021 |
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Current assets |
|||
Stocks |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
- |
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Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Accruals and deferred income |
( |
- |
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
1 |
1 |
|
Retained earnings |
(1,223) |
- |
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Shareholders' (deficit)/funds |
(1,222) |
1 |
For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Turnpike Tav Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Turnpike Tav Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022 (continued)
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Turnpike Tav Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022 (continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stocks |
2022 |
2021 |
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Other inventories |
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- |
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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|
|
1 |
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1 |