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Registered number: 13096184
Bubba Hospitality Group Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
djca Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13096184
2023 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 212,635 224,338
212,635 224,338
CURRENT ASSETS
Stocks 5 12,325 9,451
Debtors 6 373,160 110,517
Investments 7 1 -
Cash at bank and in hand 52,719 9,726
438,205 129,694
Creditors: Amounts Falling Due Within One Year 8 (309,842 ) (287,897 )
NET CURRENT ASSETS (LIABILITIES) 128,363 (158,203 )
TOTAL ASSETS LESS CURRENT LIABILITIES 340,998 66,135
Creditors: Amounts Falling Due After More Than One Year 9 (90,000 ) -
NET ASSETS 250,998 66,135
CAPITAL AND RESERVES
Called up share capital 10 2 2
Share premium account 508,469 295,999
Profit and Loss Account (257,473 ) (229,866 )
SHAREHOLDERS' FUNDS 250,998 66,135
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Huysinga
Director
04/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bubba Hospitality Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13096184 . The registered office is The Courtyard, 14a Sydenham Road, Croydon, CR0 2EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% and 12.5% straight line
Fixtures & Fittings 20%, 12.5% and 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 15)
16 15
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 2 January 2023 177,093 122,548 299,641
Additions 24,266 14,969 39,235
Disposals (7,500 ) - (7,500 )
As at 31 December 2023 193,859 137,517 331,376
Depreciation
As at 2 January 2023 45,910 29,393 75,303
Provided during the period 27,524 18,698 46,222
Disposals (2,784 ) - (2,784 )
As at 31 December 2023 70,650 48,091 118,741
Net Book Value
As at 31 December 2023 123,209 89,426 212,635
As at 2 January 2023 131,183 93,155 224,338
5. Stocks
2023 2023
£ £
Stock 12,325 9,451
6. Debtors
2023 2023
£ £
Due within one year
Trade debtors 3,461 3,897
Prepayments and accrued income 20,978 25,804
Other debtors 78,938 80,816
Amounts owed by group undertakings 269,783 -
373,160 110,517
7. Current Asset Investments
2023 2023
£ £
Shares in subsidiaries 1 -
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8. Creditors: Amounts Falling Due Within One Year
2023 2023
£ £
Trade creditors 57,981 36,489
Bank loans and overdrafts - 8
Other taxes and social security 36,479 15,259
VAT 76,737 25,060
Other creditors 47,142 92,745
Accruals and deferred income 20,239 45,475
Directors' loan accounts 71,264 72,861
309,842 287,897
9. Creditors: Amounts Falling Due After More Than One Year
2023 2023
£ £
Other creditors 90,000 -
10. Share Capital
2023 2023
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2023
£ £
Not later than one year 143,958 141,458
Later than one year and not later than five years 580,000 578,958
Later than five years 350,417 495,417
1,074,375 1,215,833
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