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REGISTERED NUMBER: SC270793 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

THE OLD BANK BAR LTD.

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

THE OLD BANK BAR LTD.

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTOR: Mrs J L Smart





REGISTERED OFFICE: Oldtown Farm
Peterculter
Aberdeenshire
AB14 0LN





REGISTERED NUMBER: SC270793 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,009 78,146

CURRENT ASSETS
Stocks 4,962 4,962
Debtors 5 132,656 130,030
Cash at bank and in hand 11,817 28,349
149,435 163,341
CREDITORS
Amounts falling due within one year 6 211,923 223,369
NET CURRENT LIABILITIES (62,488 ) (60,028 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,521

18,118

CREDITORS
Amounts falling due after more than one year 7 (38,579 ) (43,823 )

PROVISIONS FOR LIABILITIES 9 (590 ) (595 )
NET LIABILITIES (33,648 ) (26,300 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (33,748 ) (26,400 )
SHAREHOLDERS' FUNDS (33,648 ) (26,300 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 24 November 2023 and were signed by:





Mrs J L Smart - Director


THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

The Old Bank Bar Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade.

The directors have given assurance they will continue to support the company and make funds available to enable it to meet its debts as they fall due for a period of not less than 12 months from the date of approval of the financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Fixtures and fittings - 20% on cost

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

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.

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
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 5 (2022 - 5 ) .

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 March 2022 226,891 44,994 271,885
Additions - 400 400
At 28 February 2023 226,891 45,394 272,285
DEPRECIATION
At 1 March 2022 153,470 40,269 193,739
Charge for year 9,075 1,462 10,537
At 28 February 2023 162,545 41,731 204,276
NET BOOK VALUE
At 28 February 2023 64,346 3,663 68,009
At 28 February 2022 73,421 4,725 78,146

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 131,906 129,396
Prepayments and accrued income 750 634
132,656 130,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,244 5,396
Trade creditors 12,885 12,127
Tax 623 8,318
Social security and other taxes 3,437 3,919
VAT 5,415 7,986
Other creditors 172,826 173,389
Directors' current accounts 11,493 12,234
211,923 223,369

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,405 5,244
Bank loans - 2-5 years 17,202 16,703
Bank loans more 5 yr by instal 15,972 21,876
38,579 43,823

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,972 21,876

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 12,000 12,000
Between one and five years 48,000 48,000
In more than five years 27,000 39,000
87,000 99,000

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 590 595

Deferred
tax
£   
Balance at 1 March 2022 595
Provided during year (5 )
Balance at 28 February 2023 590

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mrs J L Smart
Balance outstanding at start of year (12,234 ) (12,234 )
Amounts advanced 10,933 -
Amounts repaid (10,192 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,493 ) (12,234 )

The loan is interest free and has no set repayment terms.

11. RELATED PARTY DISCLOSURES

As at the year end £170,113 (2022: £170,220) remains outstanding in respect of amounts owed by The Old Bank Bar Ltd. to an immediate family member of the director.

As at the year end £2,800 (2022: £2,800) remains outstanding in respect of amounts owed by The Old Bank Bar Ltd. to a connected company.

As at the year end £50,000 (2022: £49,000) remains outstanding in respect of amounts due to The Old Bank Bar Ltd. by a connected company.

As at the year end £81,906 (2022: £80,396) remains outstanding in respect of amounts due to The Old Bank Bar Ltd. by a connected company.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE OLD BANK BAR LTD.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Old Bank Bar Ltd. for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of The Old Bank Bar Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Old Bank Bar Ltd. and state those matters that we have agreed to state to the director of The Old Bank Bar Ltd. in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The Old Bank Bar Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Old Bank Bar Ltd.. You consider that The Old Bank Bar Ltd. 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 financial statements of The Old Bank Bar Ltd.. 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 financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


24 November 2023