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Registration number: 13586692

Good Sheds Bar Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 26 August 2021 to 28 February 2022

 

Good Sheds Bar Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Good Sheds Bar Ltd

Company Information

Directors

Ms J E Morgan

Mr ASW Baston

Registered office

Pod 7 Avon House
Stanwell Road
Penarth
CF64 2EZ

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Good Sheds Bar Ltd

(Registration number: 13586692)
Abridged Balance Sheet as at 28 February 2022

Note

2022
£

Current assets

 

Debtors

1,808

Cash at bank and in hand

 

9,945

 

11,753

Creditors: Amounts falling due within one year

(5,535)

Total assets less current liabilities

 

6,218

Accruals and deferred income

 

(1,339)

Net assets

 

4,879

capital and reserves

 

Called up share capital

170

Profit and loss account

4,709

Shareholders' funds

 

4,879

 

Good Sheds Bar Ltd

(Registration number: 13586692)
Abridged Balance Sheet as at 28 February 2022

For the financial period ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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 Board on 16 August 2022 and signed on its behalf by:
 

.........................................

Ms J E Morgan
Director

 

Good Sheds Bar Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 26 August 2021 to 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
Pod 7 Avon House
Stanwell Road
Penarth
CF64 2EZ

These financial statements were authorised for issue by the Board on 16 August 2022.

2

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Good Sheds Bar Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 26 August 2021 to 28 February 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Good Sheds Bar Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 26 August 2021 to 28 February 2022

4

Related party transactions

Other transactions with directors

During the period the directors made interest free, unsecured, repayable on demand loans to the company. At the balance sheet date the amount due to the directors was £10.

5

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary A of £1 each

120

120

Ordinary B of £1 each

50

50

 

170

170

New shares allotted

During the period 120 Ordinary A having an aggregate nominal value of were allotted for an aggregate consideration of £120.

During the period 50 Ordinary B having an aggregate nominal value of were allotted for an aggregate consideration of £50.