IRIS Accounts Production v24.1.4.33 01384773 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013847732022-11-30013847732023-11-30013847732022-12-012023-11-30013847732021-11-30013847732021-12-012022-11-30013847732022-11-3001384773ns15:EnglandWales2022-12-012023-11-3001384773ns14:PoundSterling2022-12-012023-11-3001384773ns10:Director12022-12-012023-11-3001384773ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3001384773ns10:SmallEntities2022-12-012023-11-3001384773ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3001384773ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3001384773ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3001384773ns10:FullAccounts2022-12-012023-11-3001384773ns5:CurrentFinancialInstruments2023-11-3001384773ns5:CurrentFinancialInstruments2022-11-3001384773ns5:Non-currentFinancialInstruments2023-11-3001384773ns5:Non-currentFinancialInstruments2022-11-3001384773ns5:ShareCapital2023-11-3001384773ns5:ShareCapital2022-11-3001384773ns5:RetainedEarningsAccumulatedLosses2023-11-3001384773ns5:RetainedEarningsAccumulatedLosses2022-11-3001384773ns10:RegisteredOffice2022-12-012023-11-3001384773ns5:PlantMachinery2022-12-012023-11-3001384773ns5:FurnitureFittings2022-12-012023-11-3001384773ns5:MotorVehicles2022-12-012023-11-3001384773ns5:ComputerEquipment2022-12-012023-11-3001384773ns5:PlantMachinery2022-11-3001384773ns5:FurnitureFittings2022-11-3001384773ns5:MotorVehicles2022-11-3001384773ns5:ComputerEquipment2022-11-3001384773ns5:PlantMachinery2023-11-3001384773ns5:FurnitureFittings2023-11-3001384773ns5:MotorVehicles2023-11-3001384773ns5:ComputerEquipment2023-11-3001384773ns5:PlantMachinery2022-11-3001384773ns5:FurnitureFittings2022-11-3001384773ns5:MotorVehicles2022-11-3001384773ns5:ComputerEquipment2022-11-3001384773ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3001384773ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3001384773ns5:Non-currentFinancialInstruments2022-12-012023-11-3001384773ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-11-3001384773ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-11-3001384773ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-3001384773ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-11-300138477312022-12-012023-11-30
REGISTERED NUMBER: 01384773 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

B.A.R. (GARAGES) LIMITED

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 86,600 85,925

CURRENT ASSETS
Stocks 109,316 87,646
Debtors 6 92,782 52,446
Cash at bank and in hand 67,563 138,856
269,661 278,948
CREDITORS
Amounts falling due within one year 7 (149,054 ) (153,227 )
NET CURRENT ASSETS 120,607 125,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,207

211,646

CREDITORS
Amounts falling due after more than one
year

8

(16,822

)

(26,628

)

PROVISIONS FOR LIABILITIES (16,452 ) (16,324 )
NET ASSETS 173,933 168,694

CAPITAL AND RESERVES
Called up share capital 3,300 3,300
Retained earnings 170,633 165,394
173,933 168,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





D Roberts - Director


B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

B.A.R. (GARAGES) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01384773

Registered office: Broad Street
Hanley
Stoke-On-Trent
Staffordshire
ST1 4EQ

The principal activity of the company is that of vehicle hire, vehicle retail and the maintenance and repair of motor vehicles.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 - 15% reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 78,867 2,400 245,570 1,616 328,453
Additions 3,742 - 29,592 - 33,334
Disposals - - (18,621 ) - (18,621 )
At 30 November 2023 82,609 2,400 256,541 1,616 343,166
DEPRECIATION
At 1 December 2022 62,338 2,400 176,174 1,616 242,528
Charge for year 3,041 - 24,415 - 27,456
Eliminated on disposal - - (13,418 ) - (13,418 )
At 30 November 2023 65,379 2,400 187,171 1,616 256,566
NET BOOK VALUE
At 30 November 2023 17,230 - 69,370 - 86,600
At 30 November 2022 16,529 - 69,396 - 85,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 74,379 34,992
Other debtors 191 -
Prepayments and accrued income 18,212 17,454
92,782 52,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 9) 9,645 9,645
Trade creditors 28,915 23,912
Tax 10,484 19,758
Social security and other taxes 2,789 2,325
VAT 18,087 22,333
Other creditors 6,109 6,376
Directors' loan accounts 60,869 57,429
Accrued expenses 12,156 11,449
149,054 153,227

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 16,822 26,628

B.A.R. (GARAGES) LIMITED (REGISTERED NUMBER: 01384773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The company also took out a Government bounce back loan. The loan was taken in June 2020 with a repayment holiday of 12 months. The loan is repayable by June 2026

Loan interest for the the first 12 months of the loan was funded by the UK Government, thereafter the interest rate is 2.5% per annum and is payable by the company.

9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,645 9,645

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,645 9,645

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,177 16,983

10. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.