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REGISTERED NUMBER: SC509095 (Scotland)




















Mambo Bars And Clubs Edinburgh Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mambo Bars And Clubs Edinburgh Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Miss M Iacob



REGISTERED OFFICE: Flat 1
7 East Suffolk Park
Edinburgh
EH16 5PL



REGISTERED NUMBER: SC509095 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Barclays Bank UK Plc
Edinburgh branch
Leicester
Leicestershire
LE87 2BB

Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,330 141,081

CURRENT ASSETS
Stocks - 16,230
Debtors 5 8,319 59,623
Cash at bank and in hand 2,740 23,344
11,059 99,197
CREDITORS
Amounts falling due within one year 6 56,521 162,587
NET CURRENT LIABILITIES (45,462 ) (63,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(132

)

77,691

CREDITORS
Amounts falling due after more than
one year

7

80,959

127,145
NET LIABILITIES (81,091 ) (49,454 )

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings (81,216 ) (49,579 )
SHAREHOLDERS' FUNDS (81,091 ) (49,454 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Balance Sheet - continued
31 December 2023


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 17 June 2024 and were signed by:





Miss M Iacob - Director


Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mambo Bars And Clubs Edinburgh Limited is a private company, limited by shares , registered in Scotland. 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 and revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents bar sales, door entry and rental income, excluding value added tax.

Revenue for bar is recognised at the point when cash is received from the customers and door entry is recognised when entry is granted to the premises.

Rental income is recognised based on rent due in accordance with the respective rent agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over lease term
Plant and machinery etc - 2% 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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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 10 (2022 - 22 ) .

Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Short machinery
leasehold etc Totals
£    £    £   
COST
At 1 January 2023 178,904 18,779 197,683
Disposals (124,003 ) (11,440 ) (135,443 )
At 31 December 2023 54,901 7,339 62,240
DEPRECIATION
At 1 January 2023 55,851 751 56,602
Charge for year 10,495 147 10,642
Eliminated on disposal (49,876 ) (458 ) (50,334 )
At 31 December 2023 16,470 440 16,910
NET BOOK VALUE
At 31 December 2023 38,431 6,899 45,330
At 31 December 2022 123,053 18,028 141,081

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,711 -
Other debtors 2,608 59,623
8,319 59,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,200 46,202
Trade creditors 6,394 45,986
Taxation and social security 515 38,676
Other creditors 3,412 31,723
56,521 162,587

Mambo Bars And Clubs Edinburgh Limited (Registered number: SC509095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 80,959 127,145

8. LEASING AGREEMENTS
As at 31 December 2023 the company had total minimum lease payment commitments under non-cancellable operating leases of £465,000 (2022: £17,253).

9. SECURED DEBTS

On 15 February 2017, there was a floating charge created in favour of Barclays Bank Plc covers all the property or undertaking of the company. The charge contains negative pledge.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr H Lazcano
Balance outstanding at start of year (1,027 ) 41,623
Amounts advanced 29,651 15,086
Amounts repaid (28,624 ) (57,736 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (1,027 )