Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-262023-02-262022-02-27falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13457691 2022-02-26 13457691 2022-02-27 2023-02-26 13457691 2021-06-15 2022-02-27 13457691 2023-02-26 13457691 2022-02-27 13457691 c:Director1 2022-02-27 2023-02-26 13457691 d:Buildings d:LongLeaseholdAssets 2022-02-27 2023-02-26 13457691 d:Buildings d:LongLeaseholdAssets 2023-02-26 13457691 d:Buildings d:LongLeaseholdAssets 2022-02-27 13457691 d:FurnitureFittings 2022-02-27 2023-02-26 13457691 d:FurnitureFittings 2023-02-26 13457691 d:FurnitureFittings 2022-02-27 13457691 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-27 2023-02-26 13457691 d:OfficeEquipment 2022-02-27 2023-02-26 13457691 d:ComputerEquipment 2022-02-27 2023-02-26 13457691 d:ComputerEquipment 2023-02-26 13457691 d:ComputerEquipment 2022-02-27 13457691 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-27 2023-02-26 13457691 d:OtherPropertyPlantEquipment 2022-02-27 2023-02-26 13457691 d:OtherPropertyPlantEquipment 2023-02-26 13457691 d:OtherPropertyPlantEquipment 2022-02-27 13457691 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-02-27 2023-02-26 13457691 d:OwnedOrFreeholdAssets 2022-02-27 2023-02-26 13457691 d:CurrentFinancialInstruments 2023-02-26 13457691 d:CurrentFinancialInstruments 2022-02-27 13457691 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-26 13457691 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-27 13457691 d:ShareCapital 2023-02-26 13457691 d:ShareCapital 2021-06-15 2022-02-27 13457691 d:ShareCapital 2022-02-27 13457691 d:RetainedEarningsAccumulatedLosses 2022-02-27 2023-02-26 13457691 d:RetainedEarningsAccumulatedLosses 2023-02-26 13457691 d:RetainedEarningsAccumulatedLosses 2021-06-15 2022-02-27 13457691 d:RetainedEarningsAccumulatedLosses 2022-02-27 13457691 c:OrdinaryShareClass1 2022-02-27 2023-02-26 13457691 c:OrdinaryShareClass1 2023-02-26 13457691 c:OrdinaryShareClass1 2022-02-27 13457691 c:FRS102 2022-02-27 2023-02-26 13457691 c:AuditExempt-NoAccountantsReport 2022-02-27 2023-02-26 13457691 c:FullAccounts 2022-02-27 2023-02-26 13457691 c:PrivateLimitedCompanyLtd 2022-02-27 2023-02-26 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13457691










MAVEN PREMIUM BARS & RESTAURANTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 26 FEBRUARY 2023

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
REGISTERED NUMBER: 13457691

STATEMENT OF FINANCIAL POSITION
AS AT 26 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,081,825
1,673,442

Current assets
  

Stocks
  
82,395
-

Debtors: amounts falling due within one year
 5 
8,139
318,851

Bank and cash balances
  
130,889
980

  
221,423
319,831

Creditors: amounts falling due within one year
 6 
(4,190,131)
(2,091,021)

Net current liabilities
  
 
 
(3,968,708)
 
 
(1,771,190)

Total assets less current liabilities
  
(886,883)
(97,748)

  

Net liabilities
  
(886,883)
(97,748)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(886,983)
(97,848)

  
(886,883)
(97,748)


Page 1

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
REGISTERED NUMBER: 13457691
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 26 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E W J Martin
Director

Date: 31 October 2023

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

Page 2

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 26 FEBRUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(97,848)
(97,848)

Shares issued during the period
100
-
100



At 27 February 2022
100
(97,848)
(97,748)


Comprehensive income for the year

Loss for the year
-
(789,135)
(789,135)


At 26 February 2023
100
(886,983)
(886,883)


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

Page 3

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023

1.


General information

Maven Premium Bars & Restaurants Limited is a limited liability company incorporated in England and Wales, registered number 13457691. The company's registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared detailed forecasts and cash flow analysis models for a period of 12
months from the date of approval of the financial statements which indicate that the Company will
have sufficient funds to meet its liabilities as they fall due for that period.

  
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the turnover can be reliably measured. Turnover is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other taxes.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
over the life of the lease
Fixtures and fittings
-
20%
Office equipment
-
20%
Computer equipment
-
20%
Smallwares
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023

2.Accounting policies (continued)

  
2.5

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises direct purchase
costs that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.10

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the Company pays fixed contributions into a separate entity. Once the
contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid
are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are
held separately from the Company in independently administered funds.

Page 5

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Operating leases

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
The payroll of Maven Premium Bars & Restaurants Limited is run through Maven Leisure Limited, a company within the same group as Maven Premium Bars & Restaurants Limited.


4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 27 February 2022
529,134
1,096,385
47,923
-
1,673,442


Additions
743,944
834,431
114,657
81,595
1,774,627



At 26 February 2023

1,273,078
1,930,816
162,580
81,595
3,448,069



Depreciation


Charge for the year on owned assets
46,790
276,784
24,611
18,059
366,244



At 26 February 2023

46,790
276,784
24,611
18,059
366,244



Net book value



At 26 February 2023
1,226,288
1,654,032
137,969
63,536
3,081,825



At 26 February 2022
529,134
1,096,385
47,923
-
1,673,442

Page 6

 
MAVEN PREMIUM BARS & RESTAURANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
100

Other debtors
-
318,380

Prepayments and accrued income
8,139
371

8,139
318,851



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
314,355
208,243

Amounts owed to group undertakings
2,953,296
1,799,876

Other taxation and social security
72,769
-

Other creditors
349,411
-

Accruals and deferred income
500,300
82,902

4,190,131
2,091,021



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



8.


Related party transactions

Amounts owed to group undertakings is made up of £2,707,845 (2022 £1,662,578) owed to Maven Leisure Limited, the parent company of Maven Premium Bars & Restaurants Limited and £245,451 (2022 £137,298) owed to Maven Premium Sports Bars Limited, a fellow subsidiary in the same group.


9.


Controlling party

The company is 100% owed by Maven Leisure Limited.
There is no one ultimate controlling party.

 
Page 7