2023-01-012023-12-312023-12-31false09919177Larkin’s Bars 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Larkin’s Bars Limited

Registered Number
09919177
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Larkin’s Bars Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Laurence Howard
Paul McGowan

Registered Address

46/48 Beak Street
London
W1F 9RJ

Registered Number

09919177 (England and Wales)
Larkin’s Bars Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets375,000100,000
Tangible assets41,547,1691,448,179
1,622,1691,548,179
Current assets
Stocks515,1209,273
Debtors631,99134,746
Cash at bank and on hand26,04737,772
73,15881,791
Creditors amounts falling due within one year7(3,378,530)(2,653,340)
Net current assets (liabilities)(3,305,372)(2,571,549)
Total assets less current liabilities(1,683,203)(1,023,370)
Creditors amounts falling due after one year8(39,751)(210,161)
Net assets(1,722,954)(1,233,531)
Capital and reserves
Called up share capital11
Profit and loss account(1,722,955)(1,233,532)
Shareholders' funds(1,722,954)(1,233,531)
The financial statements were approved and authorised for issue by the Board of Directors on 11 September 2024, and are signed on its behalf by:
Paul McGowan
Director
Registered Company No. 09919177
Larkin’s Bars Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors have received confirmation from the majority shareholder that he will provide whatever financial support is deemed necessary to ensure the company will continue operating as a going concern for a period of at least 12 months from the date of approval of the financial statements. The directors, therefore have reasonable expectation that the company will have adequate resources to continue in operational existence for a period of not less than twelve months from the date of approval of the financial statements. Accordingly, the directors consider it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. Functional and presentation currency The Company's functional and presentational currency is GBP.
Intangible assets
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. Amortisation - 10 years straight line
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings50
Fixtures and fittings5
Office Equipment8
Stocks and work in progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. the impairment loss is recognised immediately in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year2121
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 23250,000250,000
At 31 December 23250,000250,000
Amortisation and impairment
At 01 January 23150,000150,000
Charge for year25,00025,000
At 31 December 23175,000175,000
Net book value
At 31 December 2375,00075,000
At 31 December 22100,000100,000
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 231,857,1751,857,175
Additions124,349124,349
At 31 December 231,981,5241,981,524
Depreciation and impairment
At 01 January 23408,996408,996
Charge for year25,35925,359
At 31 December 23434,355434,355
Net book value
At 31 December 231,547,1691,547,169
At 31 December 221,448,1791,448,179
5.Stocks

2023

2022

££
Other stocks15,1209,273
Total15,1209,273
6.Debtors: amounts due within one year

2023

2022

££
Other debtors25,76534,746
Prepayments and accrued income6,226-
Total31,99134,746
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables48,93789,897
Bank borrowings and overdrafts133,586132,671
Taxation and social security12,06958,582
Other creditors3,177,2762,365,681
Accrued liabilities and deferred income6,6626,509
Total3,378,5302,653,340
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts39,751210,161
Total39,751210,161
9.Related party transactions
The directors did not receive any remuneration during the year (2022: £Nil). There were no management fees paid to the shareholders during the year (2022: £Nil). The company had no other related party transactions other than the increase in the shareholders loans.
10.Controlling party
Amcomri Media Group Limited is the ultimate controlling party by way of majority shareholding.