Registered number
NI665258
Quench Bars Ltd
Filleted Accounts
31 October 2023
Quench Bars Ltd
Registered number: NI665258
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 79,530 45,320
Current assets
Stocks 3,000 2,500
Cash at bank and in hand 28,093 24,993
31,093 27,493
Creditors: amounts falling due within one year 4 (38,866) (66,881)
Net current liabilities (7,773) (39,388)
Total assets less current liabilities 71,757 5,932
Creditors: amounts falling due after more than one year 5 (78,252) -
Net (liabilities)/assets (6,495) 5,932
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,595) 5,832
Shareholder's funds (6,495) 5,932
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Bernadette O'Connor
Director
Approved by the board on 30 July 2024
Quench Bars Ltd
Notes to the Accounts
for the year ended 31 October 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).
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 37,320 10,000 47,320
Additions 25,180 14,425 39,605
Disposals (910) - (910)
At 31 October 2023 61,590 24,425 86,015
Depreciation
At 1 November 2022 - 2,000 2,000
Charge for the year - 4,485 4,485
At 31 October 2023 - 6,485 6,485
Net book value
At 31 October 2023 61,590 17,940 79,530
At 31 October 2022 37,320 8,000 45,320
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 399 12,591
Other creditors 38,467 54,290
38,866 66,881
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 57,054 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 21,198 -
78,252 -
6 Other information
Quench Bars Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
39 Main Street
Dromore
Co Tyrone
BT78 3AG
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