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Registered Number: 10146865
England and Wales

 

 

 

EASY RUSTY BAR LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Accountants report

You consider that the company is exempt from an audit for the year ended 30 April 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
RCi Chartered Accountants & Registered Auditors
Windsor House
9-15 Adelaide Street
Luton
LU1 5BJ
02 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 303,466    242,497 
Investments 5 51,000    37,500 
354,466    279,997 
Current assets      
Stocks 15,124    7,133 
Debtors 121,050    52,046 
Cash at bank and in hand 94,019    123,729 
230,193    182,908 
Creditors: amount falling due within one year (317,662)   (219,255)
Net current liabilities (87,469)   (36,347)
 
Total assets less current liabilities 266,997    243,650 
Creditors: amount falling due after more than one year (114,203)   (90,446)
Provisions for liabilities (837)   (917)
Net assets 151,957    152,287 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 151,857    152,187 
Shareholder's funds 151,957    152,287 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 February 2024 and were signed by:


-------------------------------
Thira Pornpaditkong
Director
2
General Information
Easy Rusty Bar Limited is a private company, limited by shares, registered in England and Wales, registration number 10146865, registration address 588 Mile End Road, London, E3 4PH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 15 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 379,493    410,138 
Social security costs 24,124    20,349 
Pension costs, defined contribution plan 849    1,428 
Other staff costs 24,681    5,239 
429,147    437,154 
 
Average number of employees during the year Number   Number
Administration 9    9 
 

3.

Average number of employees

Average number of employees during the year was 41 (2022 : 30).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Improvements to property   Investment properties   Total
  £   £   £   £   £   £   £
At 01 May 2022 21,686      79,920    183,941    67,371    77,449    430,367 
Additions   15,474    64,813    16,512        96,799 
Disposals           (77,449)   (77,449)
At 30 April 2023 21,686    15,474    144,733    200,453    67,371      449,717 
Depreciation
At 01 May 2022 1,446      9,117    95,367    4,491      110,421 
Charge for year 1,445    3,044    10,113    16,737    4,491      35,830 
On disposals            
At 30 April 2023 2,891    3,044    19,230    112,104    8,982      146,251 
Net book values
Closing balance as at 30 April 2023 18,795    12,430    125,503    88,349    58,389      303,466 
Opening balance as at 01 May 2022 20,240      70,803    88,574    62,880      242,497 

The net book value of Investment properties includes £ 58,389 (2022 £140,329) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 May 2022  
Additions  
Transfer to/from tangible fixed assets 51,000    51,000 
Disposals  
At 30 April 2023 51,000    51,000 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3