KRCB Street Ltd 12398048 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is Public house Digita Accounts Production Advanced 6.30.9574.0 true 12398048 2022-02-01 2023-01-31 12398048 2023-01-31 12398048 core:CurrentFinancialInstruments 2023-01-31 12398048 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12398048 core:FurnitureFittingsToolsEquipment 2023-01-31 12398048 bus:SmallEntities 2022-02-01 2023-01-31 12398048 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12398048 bus:AbridgedAccounts 2022-02-01 2023-01-31 12398048 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12398048 bus:RegisteredOffice 2022-02-01 2023-01-31 12398048 bus:Director1 2022-02-01 2023-01-31 12398048 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12398048 core:FurnitureFittings 2022-02-01 2023-01-31 12398048 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 12398048 countries:EnglandWales 2022-02-01 2023-01-31 12398048 2022-01-31 12398048 core:FurnitureFittingsToolsEquipment 2022-01-31 12398048 2021-02-01 2022-01-31 12398048 2022-01-31 12398048 core:CurrentFinancialInstruments 2022-01-31 12398048 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 12398048 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 12398048

KRCB Street Ltd

trading as The North Western

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2023

 

KRCB Street Ltd

trading as The North Western

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

KRCB Street Ltd

trading as The North Western

Company Information

Director

Mr K Street

Registered office

Inn Control Ltd
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

Accountants

Inn Control
10 Cheyne Walk
Northampton
England
NN1 5PT

 

KRCB Street Ltd

trading as The North Western

(Registration number: 12398048)
Abridged Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

554

382

Current assets

 

Debtors

17,953

21,659

Cash at bank and in hand

 

19,090

13,728

 

37,043

35,387

Creditors: Amounts falling due within one year

(22,411)

(20,136)

Net current assets

 

14,632

15,251

Net assets

 

15,186

15,633

Capital and reserves

 

Called up share capital

1

1

Retained earnings

15,185

15,632

Shareholders' funds

 

15,186

15,633

 

KRCB Street Ltd

trading as The North Western

(Registration number: 12398048)
Abridged Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 23 October 2023
 

.........................................
Mr K Street
Director

 

KRCB Street Ltd

trading as The North Western

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

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:
Inn Control Ltd
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

These financial statements were authorised for issue by the director on 23 October 2023.

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.

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

 

KRCB Street Ltd

trading as The North Western

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

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 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.

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

Furniture and Fixtures

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.

 

KRCB Street Ltd

trading as The North Western

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 6 (2022 - 4).

 

KRCB Street Ltd

trading as The North Western

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

493

493

Additions

249

249

At 31 January 2023

742

742

Depreciation

At 1 February 2022

111

111

Charge for the year

77

77

At 31 January 2023

188

188

Carrying amount

At 31 January 2023

554

554

At 31 January 2022

382

382

5

Stocks

2023
£

2022
£