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Company No: 09743629 (England and Wales)

CARINAS NIGHTCLUB LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CARINAS NIGHTCLUB LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CARINAS NIGHTCLUB LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
CARINAS NIGHTCLUB LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr C J Eccles
Mr G F Eccles
SECRETARY Mr C J Eccles
REGISTERED OFFICE Northcombe Farm
Salcombe Regis
Sidmouth
EX10 0JQ
England
United Kingdom
COMPANY NUMBER 09743629 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
CARINAS NIGHTCLUB LIMITED

BALANCE SHEET

As at 31 March 2024
CARINAS NIGHTCLUB LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 245,757 258,999
245,757 258,999
Current assets
Debtors 4 9,318 433
Cash at bank and in hand 5 7,101 1,619
16,419 2,052
Creditors: amounts falling due within one year 6 ( 400,721) ( 393,253)
Net current liabilities (384,302) (391,201)
Total assets less current liabilities (138,545) (132,202)
Provision for liabilities ( 5,391) ( 5,683)
Net liabilities ( 143,936) ( 137,885)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 144,036 ) ( 137,985 )
Total shareholder's deficit ( 143,936) ( 137,885)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Carinas Nightclub Limited (registered number: 09743629) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

Mr C J Eccles
Director
CARINAS NIGHTCLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CARINAS NIGHTCLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Carinas Nightclub Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Northcombe Farm, Salcombe Regis, Sidmouth, EX10 0JQ, England, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 comprises rent receivable and is shown net of value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Leasehold improvements 25 years straight line
Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Total
£ £ £
Cost
At 01 April 2023 330,772 167 330,939
At 31 March 2024 330,772 167 330,939
Accumulated depreciation
At 01 April 2023 71,828 112 71,940
Charge for the financial year 13,231 11 13,242
At 31 March 2024 85,059 123 85,182
Net book value
At 31 March 2024 245,713 44 245,757
At 31 March 2023 258,944 55 258,999

4. Debtors

2024 2023
£ £
Prepayments and accrued income 9,318 433

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 7,101 1,619

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 383,671 378,671
Accruals 14,874 7,917
Taxation and social security 2,176 6,665
400,721 393,253

A loan of £383,671 (2022: £378,671) is owed to the company’s parent company. This loan is interest free and repayable when the company is in a suitable financial position.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 20,000 20,000
between one and five years 80,000 80,000
after five years 320,000 340,000
420,000 440,000