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REGISTERED NUMBER: 05412695 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UGO'S BAR LIMITED

UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UGO'S BAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Donnelly





SECRETARY: J Donnelly





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 05412695 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,729 46,638
36,729 46,638

CURRENT ASSETS
Stocks 7,518 6,152
Debtors 6 76,593 52,147
Cash at bank and in hand 30,352 38,525
114,463 96,824
CREDITORS
Amounts falling due within one year 7 87,629 73,786
NET CURRENT ASSETS 26,834 23,038
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,563

69,676

CREDITORS
Amounts falling due after more than one
year

8

22,419

32,371
NET ASSETS 41,144 37,305

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 10 41,034 37,195
SHAREHOLDERS' FUNDS 41,144 37,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





J Donnelly - Director


UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ugo's Bar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on reducing balance
Motor van - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 475,000
AMORTISATION
At 1 April 2023
and 31 March 2024 475,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings Computer
& equipment Motor van equipment Totals
£    £    £    £   
COST
At 1 April 2023 215,500 25,197 14,508 255,205
Additions 4,352 - - 4,352
Disposals - (25,197 ) - (25,197 )
At 31 March 2024 219,852 - 14,508 234,360
DEPRECIATION
At 1 April 2023 170,880 24,134 13,553 208,567
Charge for year 12,243 - 955 13,198
Eliminated on disposal - (24,134 ) - (24,134 )
At 31 March 2024 183,123 - 14,508 197,631
NET BOOK VALUE
At 31 March 2024 36,729 - - 36,729
At 31 March 2023 44,620 1,063 955 46,638

UGO'S BAR LIMITED (REGISTERED NUMBER: 05412695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 71,609 47,411
Prepayments 4,984 4,736
76,593 52,147

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans - 2,201
Trade creditors 13,502 10,584
Tax 31,046 19,690
Social security and other taxes 10,279 2,356
VAT 23,107 27,830
Other creditors 2,976 4,933
Accrued expenses 6,719 6,192
87,629 73,786

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 22,419 32,371

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 37,000 37,000
Between one and five years 148,000 148,000
In more than five years 74,000 111,000
259,000 296,000

10. RESERVES
Retained
earnings
£   

At 1 April 2023 37,195
Profit for the year 93,839
Dividends (90,000 )
At 31 March 2024 41,034