Registered number
12374863
S K Micro Pub Ltd
Filleted Accounts
31 December 2023
S K Micro Pub Ltd
Registered number: 12374863
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 35,100 40,950
Tangible assets 4 3,293 2,933
38,393 43,883
Current assets
Stocks 3,150 3,000
Cash at bank and in hand 12,583 22,036
15,733 25,036
Creditors: amounts falling due within one year 5 (31,737) (28,179)
Net current liabilities (16,004) (3,143)
Total assets less current liabilities 22,389 40,740
Creditors: amounts falling due after more than one year 6 (18,587) (28,402)
Net assets 3,802 12,338
Capital and reserves
Share premium 2 2
Profit and loss account 3,800 12,336
Shareholders' funds 3,802 12,338
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Oates
Director
Approved by the board on 14 February 2024
S K Micro Pub Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 58,500
At 31 December 2023 58,500
Amortisation
At 1 January 2023 17,550
Provided during the year 5,850
At 31 December 2023 23,400
Net book value
At 31 December 2023 35,100
At 31 December 2022 40,950
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 6,561
Additions 2,090
At 31 December 2023 8,651
Depreciation
At 1 January 2023 3,628
Charge for the year 1,730
At 31 December 2023 5,358
Net book value
At 31 December 2023 3,293
At 31 December 2022 2,933
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,158 7,821
Taxation and social security costs 14,471 10,358
Other creditors 108 -
31,737 28,179
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,167
Other creditors 4,420 4,235
18,587 28,402
7 Controlling party
The company is controlled by Mr S Bamforth & Mrs K Oates.
8 Other information
S K Micro Pub Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland
Barnsley
South Yorkshire
S74 0PB
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