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REGISTRAR OF COMPANIES

Registration number: 08998873

ES Bar Limited

Unaudited Financial Statements

31 May 2023

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ES Bar Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ES Bar Limited
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ES Bar Limited for the year ended 31 May 2023 as set out on pages 2 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of ES Bar Limited, as a body, in accordance with the terms of our engagement letter dated 27 October 2020. Our work has been undertaken solely to prepare for your approval the accounts of ES Bar Limited and state those matters that we have agreed to state to the Board of Directors of ES Bar Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ES Bar Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ES Bar Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ES Bar Limited. You consider that ES Bar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ES Bar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

3 October 2023

 

ES Bar Limited

(Registration number: 08998873)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

274,353

284,328

Investments

5

160

160

 

274,513

284,488

Current assets

 

Stocks

8,379

6,732

Debtors

6

104,602

125,470

Cash at bank and in hand

 

110,132

103,751

 

223,113

235,953

Creditors: Amounts falling due within one year

7

(121,246)

(105,790)

Net current assets

 

101,867

130,163

Total assets less current liabilities

 

376,380

414,651

Creditors: Amounts falling due after more than one year

7

(113,142)

(136,748)

Provisions for liabilities

(8,509)

(10,693)

Net assets

 

254,729

267,210

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

254,629

267,110

Total equity

 

254,729

267,210

 

ES Bar Limited

(Registration number: 08998873)
Balance Sheet as at 31 May 2023 (continued)

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

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

.........................................

S D Stables

Company secretary and director

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
1 New Street
KESWICK
CA12 5BB

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

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

Land and buildings

2% straight line

Motor vehicles

25% reducing balance

Funiture, fittings and office equipment

15% reducing balance

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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 the sale of goods 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.

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.

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

Financial instruments

Classification
Equity shares and debt securities.
 Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured
reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.
Investments in equity shares which are not publicly traded and where fair value cannot be measured
reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 Impairment
For instruments measured at cost less impairment the impairment is the difference between the
assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at
the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2022 - 23).

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 June 2022

256,899

7,345

63,828

328,072

Additions

-

-

2,236

2,236

At 31 May 2023

256,899

7,345

66,064

330,308

Depreciation

At 1 June 2022

17,127

4,310

22,308

43,745

Charge for the year

5,138

759

6,313

12,210

At 31 May 2023

22,265

5,069

28,621

55,955

Carrying amount

At 31 May 2023

234,634

2,276

37,443

274,353

At 31 May 2022

239,772

3,035

41,521

284,328

5

Investments

2023
£

2022
£

Investments in subsidiaries

160

160

Subsidiaries

£

Cost or valuation

At 1 June 2022

160

At 31 May 2023

160

Provision

Carrying amount

At 31 May 2023

160

At 31 May 2022

160

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

6

Debtors

2023
£

2022
£

Trade debtors

1,992

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

80,133

89,933

Other debtors

22,477

35,537

104,602

125,470

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

23,842

22,946

Trade creditors

 

35,943

27,261

Taxation and social security

 

31,116

23,666

Corporation tax liability

 

22,248

25,826

Other creditors

 

8,097

6,091

 

121,246

105,790

Due after one year

 

Loans and borrowings

8

113,142

136,748

2023
£

2022
£

After more than five years by instalments

29,361

44,700

29,361

44,700

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

23,842

22,946

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

23,842

22,946

Bank borrowings are secured by fixed and floating charges over the company's assets.

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

113,142

136,748

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

113,142

136,748

Bank borrowings are secured by fixed and floating charges over the company's assets.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £26,208 (2022 - £34,708). This relates to the lease of the business' property, of which 3 years and 1 month are remaining.

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

10

Related party transactions

Transactions with directors

2023

At 1 June 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 May 2023
£

M E Swider

-

12,000

(6,098)

-

-

94

5,996

               
         

S D Stables

16,120

10,000

(3,988)

-

(16,000)

168

6,300

               
         

Z Barua

16,120

4,000

(600)

-

(16,000)

127

3,647

               
         

 

2022

At 1 June 2021
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 May 2022
£

S D Stables

-

16,000

-

-

-

120

16,120

               
         

Z Barua

-

16,000

-

-

-

120

16,120

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% and 2.25% on advances to directors.

 

ES Bar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

11

Transition to FRS 102

For the year ended 31 May 2023 the company is no longer eligible to prepare financial statements in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'. As such the financial statements have been prepared in accordance with FRS 102, involving a full retrospective restatement of assets and liabiliites from the transition date, 1 June 2021. The only transition adjustment being the inclusion of a deferred tax liability, as follows

Balance Sheet at 1 June 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Provisions for liabilities

-

-

(6,206)

(6,206)

Capital and reserves

Profit and loss account

168,557

-

(6,206)

162,351

Balance Sheet at 31 May 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Provisions for liabilities

-

-

(10,693)

(10,693)

Capital and reserves

Profit and loss account

277,803

-

(10,693)

267,110