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REGISTERED NUMBER:
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Oakscliff |
Trading as |
Golden Grid and Princess Cafe |
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Unaudited Financial Statements |
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For The Year Ended 28 February 2018 |
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REGISTERED NUMBER:
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Oakscliff |
Trading as |
Golden Grid and Princess Cafe |
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Unaudited Financial Statements |
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For The Year Ended 28 February 2018 |
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Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Contents of the Financial Statements |
For The Year Ended 28 February 2018 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Abridged Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Oakscliff |
Trading as Golden Grid and Princess Cafe |
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Company Information |
For The Year Ended 28 February 2018 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
George Stanley House |
2 West Parade Road |
Scarborough |
North Yorkshire |
YO12 5ED |
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BANKERS: |
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3 Westborough |
Scarborough |
North Yorkshire |
YO11 2GA |
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SOLICITORS: |
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106 Victoria Road |
Scarborough |
North Yorkshire |
YO11 1SL |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Oakscliff |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Oakscliff for the year ended 28 February 2018 which comprise the Income Statement, Abridged |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Oakscliff, as a body, in accordance with the terms of our engagement letter dated 15 November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Oakscliff and state those matters that we have agreed to state to the Board of Directors of Oakscliff, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakscliff and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Oakscliff has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakscliff. You consider that Oakscliff is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Oakscliff. 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 financial statements. |
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Chartered Accountants |
George Stanley House |
2 West Parade Road |
Scarborough |
North Yorkshire |
YO12 5ED |
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Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Abridged Balance Sheet |
28 February 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 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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CREDITORS |
Amounts falling due after more than one
year |
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( |
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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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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Abridged Balance Sheet - continued |
28 February 2018 |
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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
by: |
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Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Notes to the Financial Statements |
For The Year Ended 28 February 2018 |
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1. | STATUTORY INFORMATION |
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Oakscliff is a private company , registered in England and Wales. The company's registered 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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
Goodwill has been amortised over its useful economic life of ten years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Freehold investment properties | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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No depreciation has been provided in the financial statements in respect of Freehold property, as the Director |
considers this to be immaterial, given the high estimated residual value of the properties. |
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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 or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Notes to the Financial Statements - continued |
For The Year Ended 28 February 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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Freehold investment properties |
In accordance with Section 1A " Small Entities" of Financial Reporting Standard 102, Freehold investment |
properties are revalued annually and the aggregate surplus or deficit is transferred to retained earnings, and no |
depreciation is provided. |
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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. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2017 |
and 28 February 2018 |
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AMORTISATION |
At 1 March 2017 |
and 28 February 2018 |
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NET BOOK VALUE |
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At 28 February 2018 |
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At 28 February 2017 |
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Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Notes to the Financial Statements - continued |
For The Year Ended 28 February 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 March 2017 |
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Additions |
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Disposals | ( |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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Cost or valuation at 28 February 2018 is represented by: |
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Totals |
£ |
Valuation in 2008 | 10,000 |
Valuation in 2005 | 141,594 |
Cost | 809,675 |
961,269 |
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If Freehold investment properties had not been revalued they would have been included at the following |
historical cost: |
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2018 | 2017 |
£ | £ |
Cost | 183,406 | 183,406 |
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Freehold investment properties were valued on an open market basis on by J W Senior . |
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J W Senior is a director of the company. |
Oakscliff (Registered number: 00613788) |
Trading as Golden Grid and Princess Cafe |
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Notes to the Financial Statements - continued |
For The Year Ended 28 February 2018 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
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Totals |
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COST OR VALUATION |
At 1 March 2017 |
and 28 February 2018 | 55,850 |
DEPRECIATION |
At 1 March 2017 | 53,113 |
Charge for year | 684 |
At 28 February 2018 | 53,797 |
NET BOOK VALUE |
At 28 February 2018 | 2,053 |
At 28 February 2017 | 2,737 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdraft |
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Bank loans |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 28 February 2018 and |
28 February 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Senior Holdings (Scarborough)Limited. |
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The ultimate controlling party is
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The registered office of Senior Holdings (Scarborough) Limited is 2 West Parade Road, Scarborough, North |
Yorkshire, YO12 5ED. |