Company registration number 09962436 (England and Wales)
Fat Badger Harrogate (UK) Ltd
Unaudited
Financial Statements
for the year ended 31 January 2023
PAGES FOR FILING WITH REGISTRAR
Fat Badger Harrogate (UK) Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Fat Badger Harrogate (UK) Ltd
Statement Of Financial Position
as at 31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
680,052
687,797
Current assets
Stocks
46,387
36,164
Debtors
5
1,873,382
2,074,676
Cash at bank and in hand
310,570
951,842
2,230,339
3,062,682
Creditors: amounts falling due within one year
6
(2,061,938)
(2,509,988)
Net current assets
168,401
552,694
Total assets less current liabilities
848,453
1,240,491
Creditors: amounts falling due after more than one year
7
(488,426)
(528,500)
Net assets
360,027
711,991
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
360,025
711,989
Total equity
360,027
711,991
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
Fat Badger Harrogate (UK) Ltd
Statement Of Financial Position (continued)
as at 31 January 2023
- 2 -
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 October 2023 and are signed on its behalf by:
P M Barker
Director
Company Registration No. 09962436
Fat Badger Harrogate (UK) Ltd
Notes to the Financial Statements
for the year ended 31 January 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Fat Badger Harrogate (UK) Ltd
Notes to the Financial Statements (continued)
for the year ended 31 January 2023
1
Accounting policies
(continued)
- 4 -
Government grants
Government grants are recognised at the fair value of the asset received and are recognised over the same period in which the related costs are incurred.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
106
99
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022
1,263,439
35,813
1,299,252
Additions
61,197
190,568
251,765
Disposals
(108,358)
(22,813)
(131,171)
At 31 January 2023
1,216,278
203,568
1,419,846
Depreciation and impairment
At 1 February 2022
603,623
7,832
611,455
Depreciation charged in the year
117,279
11,056
128,335
Eliminated in respect of disposals
(47,963)
(7,034)
(54,997)
Adjustment
51,331
3,670
55,001
At 31 January 2023
724,270
15,524
739,794
Carrying amount
At 31 January 2023
492,008
188,044
680,052
At 31 January 2022
659,816
27,981
687,797
Fat Badger Harrogate (UK) Ltd
Notes to the Financial Statements (continued)
for the year ended 31 January 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
56,270
125,606
Other debtors
1,800,555
1,949,070
Prepayments and accrued income
16,557
1,873,382
2,074,676
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
151,000
151,000
Obligations under finance lease
21,350
Trade creditors
441,319
237,279
Corporation tax
4,296
157,536
Other taxation and social security
221,487
163,866
Other creditors
1,115,455
1,680,038
Accruals and deferred income
107,031
120,269
2,061,938
2,509,988
The bank loan is secured by an additional cross guarantee between this company and Visit Yorkshire Holdings Ltd, a connected company. The obligations under finance lease is secured.
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loan
377,500
528,500
Obligations under finance lease
110,926
488,426
528,500
The bank loan is secured by an additional cross guarantee between this company and Visit Yorkshire Holdings Ltd, a connected company. The obligations under finance lease is secured.
8
Company information
Fat Badger Harrogate (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.