Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-03-01No description of principal activity7387truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05307060 2022-03-01 2023-02-28 05307060 2021-03-01 2022-02-28 05307060 2023-02-28 05307060 2022-02-28 05307060 c:Director1 2022-03-01 2023-02-28 05307060 d:Buildings d:ShortLeaseholdAssets 2022-03-01 2023-02-28 05307060 d:Buildings d:ShortLeaseholdAssets 2023-02-28 05307060 d:Buildings d:ShortLeaseholdAssets 2022-02-28 05307060 d:PlantMachinery 2022-03-01 2023-02-28 05307060 d:PlantMachinery 2023-02-28 05307060 d:PlantMachinery 2022-02-28 05307060 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 05307060 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 05307060 d:Goodwill 2023-02-28 05307060 d:Goodwill 2022-02-28 05307060 d:CurrentFinancialInstruments 2023-02-28 05307060 d:CurrentFinancialInstruments 2022-02-28 05307060 d:Non-currentFinancialInstruments 2023-02-28 05307060 d:Non-currentFinancialInstruments 2022-02-28 05307060 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05307060 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 05307060 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 05307060 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 05307060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 05307060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 05307060 d:ShareCapital 2023-02-28 05307060 d:ShareCapital 2022-02-28 05307060 d:SharePremium 2023-02-28 05307060 d:SharePremium 2022-02-28 05307060 d:OtherMiscellaneousReserve 2023-02-28 05307060 d:OtherMiscellaneousReserve 2022-02-28 05307060 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 05307060 d:RetainedEarningsAccumulatedLosses 2023-02-28 05307060 d:RetainedEarningsAccumulatedLosses 2022-02-28 05307060 c:FRS102 2022-03-01 2023-02-28 05307060 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 05307060 c:FullAccounts 2022-03-01 2023-02-28 05307060 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05307060 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 05307060 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 05307060










SNUG BARS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
SNUG BARS LIMITED
REGISTERED NUMBER:05307060

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
149,860
167,666

Current assets
  

Stocks
  
36,087
42,590

Debtors: amounts falling due within one year
 6 
290,415
247,362

Cash at bank and in hand
 7 
110,938
128,420

  
437,440
418,372

Creditors: amounts falling due within one year
 8 
(936,990)
(905,842)

Net current liabilities
  
 
 
(499,550)
 
 
(487,470)

Total assets less current liabilities
  
(349,690)
(319,804)

Creditors: amounts falling due after more than one year
 9 
(28,333)
(38,333)

  

Net liabilities
  
(378,023)
(358,137)


Capital and reserves
  

Called up share capital 
  
8,500
8,500

Share premium account
 12 
1,798
1,798

Other reserves
 12 
18,329
18,329

Profit and loss account
 12 
(406,650)
(386,764)

  
(378,023)
(358,137)


Page 1

 
SNUG BARS LIMITED
REGISTERED NUMBER:05307060
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The Director considers 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 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 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: 




Giles Fry
Director

Date: 1 December 2023


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Snug Bars Limited is a limited liability company incorporated in England and Wales. The Company registration number is 5307060. The registered office is 1 French Row, St. Albans, Hertfordshire, AL3 5DU.
The financial statements are presented in pound sterling which is the functional currency of the Company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 the financial statements on the going concern basis which is dependent on the continued financial support of the Company's creditors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

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:

Short Term Leasehold Property
-
Straight line over the length of the lease
Plant and Machinery
-
Between 1 and 10 years depending on the asset

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

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.

 
2.8

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.

Page 4

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 73 (2022 - 87).


4.


Intangible assets




Goodwill

£



Cost


At 1 March 2022
29,793



At 28 February 2023

29,793



Amortisation


At 1 March 2022
29,793



At 28 February 2023

29,793



Net book value



At 28 February 2023
-



At 28 February 2022
-



Page 6

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Short Term Leasehold Property
Plant and Machinery
Total

£
£
£



Cost or valuation


At 1 March 2022
60,307
1,378,198
1,438,505


Additions
-
65,047
65,047


Disposals
-
(122,873)
(122,873)



At 28 February 2023

60,307
1,320,372
1,380,679



Depreciation


At 1 March 2022
47,582
1,223,257
1,270,839


Charge for the year on owned assets
3,128
69,188
72,316


Disposals
-
(112,336)
(112,336)



At 28 February 2023

50,710
1,180,109
1,230,819



Net book value



At 28 February 2023
9,597
140,263
149,860



At 28 February 2022
12,725
154,941
167,666

Page 7

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
21,739
19,493

Other debtors
170,364
133,317

Prepayments and accrued income
87,312
83,552

Deferred taxation
11,000
11,000

290,415
247,362



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
110,938
128,420



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
10,000
11,893

Trade creditors
271,886
146,498

Other taxation and social security
96,850
107,774

Other creditors
454,047
458,056

Accruals and deferred income
104,207
181,621

936,990
905,842



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,333
38,333


Page 8

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Loans


2023
2022
£
£

Amounts falling due within one year

Other loans
10,000
11,893


Amounts falling due 2-5 years

Bank loans
28,333
38,333


38,333
50,226



11.


Deferred taxation




2023


£






At beginning of year
11,000



At end of year
11,000

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
11,000
11,000


12.


Reserves

Profit and loss account

The profit and loss account is the accumulation of distributable profits from the current and previous periods. 


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £20,726 (2022 - £19,251). Contributions totalling £10,603 (2022 - £7,807) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

14.


Related party transactions

There were no transactions with related parties to be disclosed under the requirements of the Financial Reporting Standard 102 - Section 1A.


15.


Controlling party

During the year, the ultimate controlling party of the Company was Mr Giles Fry, who is also a Director.

 
Page 10