Registered number
14661158
Gracie Barra Newark Ltd
Filleted Accounts
28 February 2024
Gracie Barra Newark Ltd
Registered number: 14661158
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Tangible assets 3 12,941
Current assets
Debtors 4 4,500
Cash at bank and in hand 25,128
29,628
Net current assets 29,628
Total assets less current liabilities 42,569
Creditors: amounts falling due after more than one year 5 (28,459)
Net assets 14,110
Capital and reserves
Called up share capital 2
Profit and loss account 14,108
Shareholders' funds 14,110
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 members have 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.
E Doran
Director
Approved by the board on 5 August 2024
Gracie Barra Newark Ltd
Notes to the Accounts
for the period from 14 February 2023 to 28 February 2024
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to Leasehold Property over 3 years
Computer Equipment over 3 years
Fixtures, fittings, tools and equipment over 3 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Improvements to Leasehold Property Computer Equipment Fixture & Fittings Total
£ £ £ £
Cost
Additions 5,936 1,120 12,182 19,238
At 28 February 2024 5,936 1,120 12,182 19,238
Depreciation
Charge for the period 1,979 265 4,053 6,297
At 28 February 2024 1,979 265 4,053 6,297
Net book value
At 28 February 2024 3,957 855 8,129 12,941
4 Debtors 2024
£
Other debtors 4,500
5 Creditors: amounts falling due after one year 2024
£
Trade creditors 707
Other creditors 27,752
28,459
6 Other information
Gracie Barra Newark Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13-15 Kirk Gate
Newark
Nottinghamshire
NG24 1AD
Gracie Barra Newark Ltd 14661158 false 2023-02-14 2024-02-28 2024-02-28 VT Final Accounts April 2024 E Doran No description of principal activity 14661158 2023-02-14 2024-02-28 14661158 bus:PrivateLimitedCompanyLtd 2023-02-14 2024-02-28 14661158 bus:AuditExemptWithAccountantsReport 2023-02-14 2024-02-28 14661158 bus:Director40 2023-02-14 2024-02-28 14661158 core:LandBuildings 2023-02-14 2024-02-28 14661158 core:PlantMachinery 2023-02-14 2024-02-28 14661158 core:Vehicles 2023-02-14 2024-02-28 14661158 countries:England 2023-02-14 2024-02-28 14661158 bus:FRS102 2023-02-14 2024-02-28 14661158 bus:FilletedAccounts 2023-02-14 2024-02-28 14661158 2024-02-28 14661158 core:AfterOneYear 2024-02-28 14661158 core:ShareCapital 2024-02-28 14661158 core:RetainedEarningsAccumulatedLosses 2024-02-28 14661158 core:LandBuildings 2024-02-28 14661158 core:PlantMachinery 2024-02-28 14661158 core:Vehicles 2024-02-28 14661158 2023-02-13 iso4217:GBP xbrli:pure