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REGISTERED NUMBER: 04373219 (England and Wales)











Unaudited Financial Statements for the Year Ended 28 February 2024

for

Medusa Bar Brighton Limited

Medusa Bar Brighton Limited (Registered number: 04373219)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Medusa Bar Brighton Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: Mr George Shahata
Mrs Marian Shahata



REGISTERED OFFICE: ASM House
103A Keymer Road
Hassocks
West Sussex
BN6 8QL



REGISTERED NUMBER: 04373219 (England and Wales)



BANKERS: Lloyds TSB Bank plc
Church Road
Burgess Hill
West Sussex
RH12 3BH

Medusa Bar Brighton Limited (Registered number: 04373219)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,719 73,835

CURRENT ASSETS
Stocks 2,500 2,500
Cash at bank and in hand 39,112 6,443
41,612 8,943
CREDITORS
Amounts falling due within one year 5 49,495 36,112
NET CURRENT LIABILITIES (7,883 ) (27,169 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,836

46,666

CREDITORS
Amounts falling due after more than one year 6 22,500 31,391
NET ASSETS 46,336 15,275

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7 46,334 15,273
SHAREHOLDERS' FUNDS 46,336 15,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Medusa Bar Brighton Limited (Registered number: 04373219)

Balance Sheet - continued
28 February 2024


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 Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





Mr George Shahata - Director


Medusa Bar Brighton Limited (Registered number: 04373219)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Medusa Bar Brighton 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Medusa Bar Brighton Limited (Registered number: 04373219)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 17,557 82,069 99,626
Additions - 4,571 4,571
At 28 February 2024 17,557 86,640 104,197
DEPRECIATION
At 1 March 2023 - 25,791 25,791
Charge for year - 1,687 1,687
At 28 February 2024 - 27,478 27,478
NET BOOK VALUE
At 28 February 2024 17,557 59,162 76,719
At 28 February 2023 17,557 56,278 73,835

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade creditors 2,100 4,427
Taxation and social security 17,068 13,775
Other creditors 30,327 17,910
49,495 36,112

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 22,500 31,391

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 22,500 31,391

Medusa Bar Brighton Limited (Registered number: 04373219)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. RESERVES
Retained
earnings
£   

At 1 March 2023 15,273
Profit for the year 45,761
Dividends (14,700 )
At 28 February 2024 46,334