Registered number
13827461
XYZ Bar Company Limited
Filleted Accounts
31 March 2023
XYZ Bar Company Limited
Registered number: 13827461
Balance Sheet
as at 31 March 2023
Notes 2023
£
Current assets
Stocks 2,435
Debtors 3 28,944
Cash at bank and in hand 126,246
157,625
Creditors: amounts falling due within one year 4 (43,613)
Net current assets 114,012
Net assets 114,012
Capital and reserves
Called up share capital 100
Profit and loss account 113,912
Shareholder's funds 114,012
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Arnull
Director
Approved by the board on 2 October 2023
XYZ Bar Company Limited
Notes to the Accounts
for the period from 4 January 2022 to 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Debtors 2023
£
Other taxes and social security 22,856
Other debtors 6,088
28,944
4 Creditors: amounts falling due within one year 2023
£
Trade creditors 1,161
Taxation and social security costs 41,252
Other creditors 1,200
43,613
5 Events after the reporting date
There have been no know events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
6 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
7 Contingent liabilities
There are no know contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Related party transactions
Total dividend of £50,000 were paid to the shareholders of the company. As at the end of the year the shareholders of the company owed £6088 to the company. The loan is interest free and will be repaid within 9 months of the year end.
9 Controlling party
The company is under the control of Mr M Arnull, being director and shareholder of the company.
10 Other information
XYZ Bar Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Highlands Avenue
Northampton
NN3 6BG
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