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REGISTERED NUMBER: 08885844 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

The Famous Yellow Sub Company Limited

The Famous Yellow Sub Company Limited (Registered number: 08885844)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Famous Yellow Sub Company Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: A McCaughran





REGISTERED OFFICE: Unit 16 Muir Road
Brookfield Business Park
Aintree
Liverpool
L9 7AR





REGISTERED NUMBER: 08885844 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

The Famous Yellow Sub Company Limited (Registered number: 08885844)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,533 2,533
Tangible assets 5 118,046 118,046
120,579 120,579

CURRENT ASSETS
Debtors 6 129,300 129,300

CREDITORS
Amounts falling due within one year 7 324,612 324,612
NET CURRENT LIABILITIES (195,312 ) (195,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(74,733

)

(74,733

)

PROVISIONS FOR LIABILITIES 528 528
NET LIABILITIES (75,261 ) (75,261 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (75,361 ) (75,361 )
SHAREHOLDERS' FUNDS (75,261 ) (75,261 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:



A McCaughran - Director


The Famous Yellow Sub Company Limited (Registered number: 08885844)

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

1. STATUTORY INFORMATION

The Famous Yellow Sub Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Famous Yellow Sub Company Limited (Registered number: 08885844)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 10,000
AMORTISATION
At 1 August 2022
and 31 July 2023 7,467
NET BOOK VALUE
At 31 July 2023 2,533
At 31 July 2022 2,533

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 204,189
DEPRECIATION
At 1 August 2022
and 31 July 2023 86,143
NET BOOK VALUE
At 31 July 2023 118,046
At 31 July 2022 118,046

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 129,300 129,300

The Famous Yellow Sub Company Limited (Registered number: 08885844)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 89,166 89,166
Trade creditors 69,508 69,508
Taxation and social security 2,617 2,617
Other creditors 163,321 163,321
324,612 324,612

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank overdrafts 29,283 29,283
Bank loans 59,883 59,883
89,166 89,166

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director operates a current account to which transactions of a private nature are posted. As at 31 July 2022, a balance of £162,121, (2021. £162,121) owing to Mr A McCaughran, was included within other creditors.

10. RELATED PARTY DISCLOSURES

Bullit Express Limited.

A company in which Lord Alfred McCaughran is a director and shareholder. As at the balance sheet date a balance of £4,800, (2022, £4,800) was included within other debtors.

Bubbles Champagne Bar Limited.

A company in which Lord Alfred McCaughran is a director and shareholder. As at the balance sheet date a balance of £10, (2022, £10) was included within other creditors.