Company registration number 10420676 (England and Wales)
GUY GOLD COFFEE BAR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
GUY GOLD COFFEE BAR LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GUY GOLD COFFEE BAR LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr G Gold
Company number
10420676
Registered office
88 Hill Village Road
Sutton Coldfield
West Midlands
United Kingdom
B75 5BE
Accountants
Haslehursts Limited
88 Hill Village Road
Four Oaks
Sutton Coldfield
West Midlands
B75 5BE
GUY GOLD COFFEE BAR LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,132
39,285
Current assets
Stocks
1,500
1,500
Debtors
4
10,732
11,296
Cash at bank and in hand
5,124
18,150
17,356
30,946
Creditors: amounts falling due within one year
5
(159,312)
(130,039)
Net current liabilities
(141,956)
(99,093)
Total assets less current liabilities
(104,824)
(59,808)
Creditors: amounts falling due after more than one year
6
(21,557)
(32,407)
Net liabilities
(126,381)
(92,215)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(126,481)
(92,315)
Total equity
(126,381)
(92,215)

The notes on pages 4 to 7 form part of these financial statements.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his 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.

GUY GOLD COFFEE BAR LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 6 October 2023
Mr G Gold
Director
Company registration number 10420676 (England and Wales)
GUY GOLD COFFEE BAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Guy Gold Coffee Bar Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, United Kingdom, B75 5BE.

1.1
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 accounts are prepared on the going concern basis, on the assumption that the company's creditors, in particular the director of the company, continues to provide financial support to the company.

The company has taken advantage of exemption, under the terms of financial reporting standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Leasehold improvements
15 years straight line
Fixtures and fittings
25% on cost
Computers
33% on cost
1.4
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.5
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

GUY GOLD COFFEE BAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Government grants

Government grants have been recognised under the accruals model. Government grants relating to revenue expenditure are recognised in oncome on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
5
GUY GOLD COFFEE BAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
51,928
27,985
79,913
Additions
-
0
4,972
4,972
At 31 March 2023
51,928
32,957
84,885
Depreciation and impairment
At 1 April 2022
18,579
22,049
40,628
Depreciation charged in the year
3,462
3,663
7,125
At 31 March 2023
22,041
25,712
47,753
Carrying amount
At 31 March 2023
29,887
7,245
37,132
At 31 March 2022
33,349
5,936
39,285
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
10,732
11,296
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,109
9,743
Trade creditors
8,473
3,359
Taxation and social security
1,906
(1,213)
Other creditors
138,824
118,150
159,312
130,039
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,557
32,407
GUY GOLD COFFEE BAR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
8
Parent company

The ultimate parent company is Guy Gold & Associates Limited, who share the same registered office as its subsidiary company.

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