Silverfin false false 31/08/2023 01/09/2022 31/08/2023 C Conway 23/10/2023 22/08/2019 A McCartney 22/08/2019 29 August 2024 The principal activity of the Company during the financial year was that of a bar and club. SC639612 2023-08-31 SC639612 bus:Director1 2023-08-31 SC639612 bus:Director2 2023-08-31 SC639612 core:CurrentFinancialInstruments 2023-08-31 SC639612 core:CurrentFinancialInstruments 2022-08-31 SC639612 2022-08-31 SC639612 core:ShareCapital 2023-08-31 SC639612 core:ShareCapital 2022-08-31 SC639612 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC639612 core:RetainedEarningsAccumulatedLosses 2022-08-31 SC639612 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-08-31 SC639612 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-08-31 SC639612 bus:OrdinaryShareClass1 2023-08-31 SC639612 2022-09-01 2023-08-31 SC639612 bus:FilletedAccounts 2022-09-01 2023-08-31 SC639612 bus:SmallEntities 2022-09-01 2023-08-31 SC639612 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 SC639612 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC639612 bus:Director1 2022-09-01 2023-08-31 SC639612 bus:Director2 2022-09-01 2023-08-31 SC639612 2021-09-01 2022-08-31 SC639612 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 SC639612 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC639612 (Scotland)

MERCHANT PUBS & BARS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH THE REGISTRAR

MERCHANT PUBS & BARS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023

Contents

MERCHANT PUBS & BARS LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2023
MERCHANT PUBS & BARS LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2023
2023 2022
£ £
Current assets
Debtors 3 79,910 50,100
Cash at bank and in hand 4,427 2
84,337 50,102
Creditors: amounts falling due within one year 4 ( 112,261) ( 52,760)
Net current liabilities (27,924) (2,658)
Total assets less current liabilities (27,924) (2,658)
Net liabilities ( 27,924) ( 2,658)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 28,024 ) ( 2,758 )
Total shareholders' deficit ( 27,924) ( 2,658)

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of MERCHANT PUBS & BARS LIMITED (registered number: SC639612) were approved and authorised for issue by the Director on 29 August 2024. They were signed on its behalf by:

A McCartney
Director
MERCHANT PUBS & BARS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
MERCHANT PUBS & BARS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MERCHANT PUBS & BARS LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 227 West George Street, Glasgow, G2 2ND, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £27,924. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from related companies, 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the directors 2 2

3. Debtors

2023 2022
£ £
Amounts owed by related parties 79,810 50,000
Other debtors 100 100
79,910 50,100

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 47,650 50,000
Amounts owed to related parties 59,880 720
Other creditors 4,731 2,040
112,261 52,760

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts due from related parties 79,810 50,000
Amounts owed to related parties 59,880 720