Company registration number 08214145 (England and Wales)
BAR 44 (TAPAS Y COPAS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BAR 44 (TAPAS Y COPAS) LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 9
BAR 44 (TAPAS Y COPAS) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BAR 44 (TAPAS Y COPAS) LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bar 44 (Tapas y Copas) Limited for the year ended 30 September 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the board of directors of Bar 44 (Tapas y Copas) Limited, as a body, in accordance with the terms of our engagement letter dated 9 April 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Bar 44 (Tapas y Copas) Limited and state those matters that we have agreed to state to the board of directors of Bar 44 (Tapas y Copas) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bar 44 (Tapas y Copas) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Bar 44 (Tapas y Copas) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bar 44 (Tapas y Copas) Limited. You consider that Bar 44 (Tapas y Copas) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bar 44 (Tapas y Copas) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Azets
27 February 2024
Ty Derw
Lime Tree Court
Cardiff Gate Business Park
Cardiff
Wales
CF23 8AB
BAR 44 (TAPAS Y COPAS) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
87,104
76,107
Current assets
Stocks
11,468
15,540
Debtors
5
352,646
160,391
Cash at bank and in hand
54,319
255,162
418,433
431,093
Creditors: amounts falling due within one year
6
(124,652)
(137,530)
Net current assets
293,781
293,563
Total assets less current liabilities
380,885
369,670
Provisions for liabilities
(4,701)
(4,602)
Net assets
376,184
365,068
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
376,084
364,968
Total equity
376,184
365,068

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 February 2024 and are signed on its behalf by:
Mr T C Morgan
Director
Company Registration No. 08214145
BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Bar 44 (Tapas y Copas) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Asador 44, 14 Quay Street, Cardiff, United Kingdom, CF10 1EA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
10% on cost
Plant and machinery
20% on cost
Fixtures, fittings & equipment
15% on cost
Computer equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
17
3
Dividends
2023
2022
£
£
Final paid
20,063
5,000
BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2022
62,911
260,495
323,406
Additions
-
0
28,562
28,562
Disposals
(2,806)
(151,442)
(154,248)
At 30 September 2023
60,105
137,615
197,720
Depreciation and impairment
At 1 October 2022
4,853
242,446
247,299
Depreciation charged in the year
1,190
9,156
10,346
Eliminated in respect of disposals
(1,455)
(145,574)
(147,029)
At 30 September 2023
4,588
106,028
110,616
Carrying amount
At 30 September 2023
55,517
31,587
87,104
At 30 September 2022
58,058
18,049
76,107
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
350,952
157,161
Other debtors
1,694
3,230
352,646
160,391
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
22,842
34,090
Amounts owed to group undertakings
-
0
17,672
Corporation tax
8,616
-
0
Other taxation and social security
31,322
28,641
Other creditors
61,872
57,127
124,652
137,530
BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
150,000
-
0
BAR 44 (TAPAS Y COPAS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Name of related party
Nature of relationship
Other related parties
Description of
Income
Payments
transaction
2023
2022
2023
2022
£
£
£
£
Other related parties
Expenses paid and received
8,737
3,228
378,010
108,433
Amounts owed to/by related parties

The following amounts were outstanding at the reporting end date:

Amount owed to
Amounts owed by
2023
2022
2023
2022
£
£
£
£
Other related parties
-
0
17,672
350,952
157,161
2023-09-302022-10-01false27 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr T C MorganMr O C MorganMs N A Isaacfalse082141452022-10-012023-09-30082141452023-09-30082141452022-09-3008214145core:LandBuildings2023-09-3008214145core:OtherPropertyPlantEquipment2023-09-3008214145core:LandBuildings2022-09-3008214145core:OtherPropertyPlantEquipment2022-09-3008214145core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3008214145core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3008214145core:CurrentFinancialInstruments2023-09-3008214145core:CurrentFinancialInstruments2022-09-3008214145core:ShareCapital2023-09-3008214145core:ShareCapital2022-09-3008214145core:RetainedEarningsAccumulatedLosses2023-09-3008214145core:RetainedEarningsAccumulatedLosses2022-09-3008214145bus:Director12022-10-012023-09-3008214145core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-10-012023-09-3008214145core:PlantMachinery2022-10-012023-09-3008214145core:FurnitureFittings2022-10-012023-09-3008214145core:ComputerEquipment2022-10-012023-09-30082141452021-10-012022-09-3008214145core:LandBuildings2022-09-3008214145core:OtherPropertyPlantEquipment2022-09-30082141452022-09-3008214145core:LandBuildings2022-10-012023-09-3008214145core:OtherPropertyPlantEquipment2022-10-012023-09-3008214145core:WithinOneYear2023-09-3008214145core:WithinOneYear2022-09-3008214145bus:PrivateLimitedCompanyLtd2022-10-012023-09-3008214145bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3008214145bus:FRS1022022-10-012023-09-3008214145bus:AuditExempt-NoAccountantsReport2022-10-012023-09-3008214145bus:Director22022-10-012023-09-3008214145bus:Director32022-10-012023-09-3008214145bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP