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Registration number: 11837654

The Mixed Bunch Ltd

trading as Bunch of Grapes

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Company Information

Directors

J Cavanagh

T Cavanagh

Registered office

GMSM Accounting
4-6, The Stable Block Courtyard
Leigh Court Business Centre
Bristol
BS8 3RA

Accountants

GMSM Accounting Limited
Chartered Certified Accountants
Unit 4 The Stable Block
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

(Registration number: 11837654)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

15,078

18,890

Current assets

 

Stocks

5

3,000

6,000

Debtors

6

41,553

42,491

Cash at bank and in hand

 

12,716

21,610

 

57,269

70,101

Creditors: Amounts falling due within one year

7

(33,084)

(24,175)

Net current assets

 

24,185

45,926

Total assets less current liabilities

 

39,263

64,816

Creditors: Amounts falling due after more than one year

7

(55,439)

(64,571)

Net (liabilities)/assets

 

(16,176)

245

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(16,276)

145

Shareholders' (deficit)/funds

 

(16,176)

245

For the financial year 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 year 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.

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:
 

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

(Registration number: 11837654)
Balance Sheet as at 28 February 2022

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

J Cavanagh
Director

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 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:
GMSM Accounting
4-6, The Stable Block Courtyard
Leigh Court Business Centre
Bristol
BS8 3RA
England and Wales

These financial statements were authorised for issue by the Board on 14 September 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

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.

Tax

The tax expense for the period comprises 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.

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% straight line basis

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.

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.

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

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2021 - 5).

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

26,985

26,985

Additions

255

255

At 28 February 2022

27,240

27,240

Depreciation

At 1 March 2021

8,095

8,095

Charge for the year

4,067

4,067

At 28 February 2022

12,162

12,162

Carrying amount

At 28 February 2022

15,078

15,078

At 28 February 2021

18,890

18,890

5

Stocks

2022
£

2021
£

Other inventories

3,000

6,000

6

Debtors

2022
£

2021
£

Prepayments

1,433

400

Other debtors

40,120

42,091

41,553

42,491

 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

15,550

8,654

Trade creditors

 

4,038

3,605

Taxation and social security

 

12,163

10,985

Accruals and deferred income

 

905

774

Other creditors

 

428

157

 

33,084

24,175

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

55,439

64,571

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

The Mixed Bunch Ltd

trading as Bunch of Grapes

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

38,085

41,667

Hire purchase contracts

17,354

22,904

55,439

64,571

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,000

8,334

Hire purchase contracts

5,550

320

15,550

8,654