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Registration number: 09471676

Bar Azita (Hitchin) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Bar Azita (Hitchin) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Bar Azita (Hitchin) Limited

Company Information

Directors

NJ Pike

J Pike

E Llapanji

M J Dreyer

L E Pike

Registered office

Venton Green Acres
Lilley
Luton
Bedfordshire
LU2 8LS

 

Bar Azita (Hitchin) Limited

(Registration number: 09471676)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

48,038

58,829

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

116,487

165,166

Cash at bank and in hand

 

43,820

75,112

 

165,307

245,278

Creditors: Amounts falling due within one year

7

(73,555)

(73,339)

Net current assets

 

91,752

171,939

Total assets less current liabilities

 

139,790

230,768

Provisions for liabilities

(8,345)

(7,350)

Net assets

 

131,445

223,418

Capital and reserves

 

Called up share capital

100

100

Retained earnings

131,345

223,318

Shareholders' funds

 

131,445

223,418

For the financial year ending 31 July 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.

 

Bar Azita (Hitchin) Limited

(Registration number: 09471676)
Balance Sheet as at 31 July 2023

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 18 January 2024 and signed on its behalf by:
 

.........................................
NJ Pike
Director

.........................................
J Pike
Director

 

Bar Azita (Hitchin) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Venton Green Acres
Lilley
Luton
Bedfordshire
LU2 8LS

These financial statements were authorised for issue by the Board on 18 January 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Bar Azita (Hitchin) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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

Fixtures and equipment

15% on reducing balance

Computer equipment

33% on straight line

Amortisation

Asset class

Amortisation method and rate

Goodwill

1 year useful life

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 merchandise sold 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.

 

Bar Azita (Hitchin) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 13).

 

Bar Azita (Hitchin) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Properties under construction
 £

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

25,121

130,644

5,163

160,928

At 31 July 2023

25,121

130,644

5,163

160,928

Depreciation

At 1 August 2022

20,473

76,463

5,163

102,099

Charge for the year

2,664

8,127

-

10,791

At 31 July 2023

23,137

84,590

5,163

112,890

Carrying amount

At 31 July 2023

1,984

46,054

-

48,038

At 31 July 2022

4,648

54,181

-

58,829

5

Stocks

2023
£

2022
£

Other inventories

5,000

5,000

6

Debtors

2023
£

2022
£

Prepayments

2,593

4,355

Other debtors

113,894

160,811

116,487

165,166

 

Bar Azita (Hitchin) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

24,978

30,456

Taxation and social security

39,876

34,692

Accruals and deferred income

8,312

8,191

Other creditors

389

-

73,555

73,339

8

Related party transactions

Transactions with directors

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

NJ Pike

The directors operate a joint loan account. Interest is charged at 2% per annum. There are no fixed terms of repayment.

110,650

66,548

(111,000)

66,198

         
       

 

2022

At 1 March 2021
£

Advances to director
£

At 31 July 2022
£

NJ Pike

The directors operate a joint loan account. Interest is charged at 2% per annum. There are no fixed terms of repayment.

-

110,650

110,650