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REGISTERED NUMBER: 12810058 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BUDDIES FAMILY SHOW BAR LTD

BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUDDIES FAMILY SHOW BAR LTD

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTORS: D R J Richmond
Miss P S Smith





REGISTERED OFFICE: Fairways
Neat Marsh Road
Preston
Hull
HU12 8TP





REGISTERED NUMBER: 12810058 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,381 77,783

CURRENT ASSETS
Stocks 4,245 4,245
Debtors 5 6,550 8,950
Cash at bank and in hand 159,339 107,035
170,134 120,230
CREDITORS
Amounts falling due within one year 6 63,598 46,398
NET CURRENT ASSETS 106,536 73,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,917

151,615

CREDITORS
Amounts falling due after more than one year 7 (13,180 ) (18,634 )

PROVISIONS FOR LIABILITIES (15,653 ) (14,779 )
NET ASSETS 160,084 118,202

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 159,984 118,102
160,084 118,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

BALANCE SHEET - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:




Miss P S Smith - Director



D R J Richmond - Director


BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Buddies Family Show Bar Ltd is a private company, limited by shares, registered in England. The company's registered number and registered office address can be found on the Company information page.

The financial statements are presented in Sterling, which is the functional currency of the company.

The principal activity is that of a public bar also providing family entertainment.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost and 15% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.
In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 23 ) .

BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 87,838
Additions 24,116
At 31 January 2023 111,954
DEPRECIATION
At 1 February 2022 10,055
Charge for year 19,518
At 31 January 2023 29,573
NET BOOK VALUE
At 31 January 2023 82,381
At 31 January 2022 77,783

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2022
and 31 January 2023 32,495
DEPRECIATION
At 1 February 2022 4,335
Charge for year 6,499
At 31 January 2023 10,834
NET BOOK VALUE
At 31 January 2023 21,661
At 31 January 2022 28,160

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,550 8,950

BUDDIES FAMILY SHOW BAR LTD (REGISTERED NUMBER: 12810058)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,454 5,454
Trade creditors 20,530 10,216
Taxation and social security 16,701 18,298
Other creditors 20,913 12,430
63,598 46,398

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 13,180 18,634

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 January 2023 and the period ended 31 January 2022:

2023 2022
£    £   
Miss P S Smith
Balance outstanding at start of year 5,340 -
Amounts advanced 2,000 5,340
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,340 5,340

D R J Richmond
Balance outstanding at start of year 5,340 -
Amounts advanced 4,661 5,340
Amounts repaid (2,823 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,178 5,340

Included in other creditors due within one year are amounts owed to the directors, Miss P S Smith and Mr D R J Richmond amounting to £14,518 (2021: £10,680).

No interest is charged on the above amounts.