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REGISTERED NUMBER: 10586705 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Spirits Bar Ltd

Spirits Bar Ltd (Registered number: 10586705)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spirits Bar Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Ms S Topp
G D Topp
D Walford





SECRETARY:





REGISTERED OFFICE: 6 Hotel Street
Leicester
LE1 5AW





REGISTERED NUMBER: 10586705 (England and Wales)





ACCOUNTANTS: M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

Spirits Bar Ltd (Registered number: 10586705)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,086 103,086

CURRENT ASSETS
Debtors 5 22,929 22,929
Cash at bank 91 91
23,020 23,020
CREDITORS
Amounts falling due within one year 6 168,320 168,320
NET CURRENT LIABILITIES (145,300 ) (145,300 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(42,214

)

(42,214

)

CREDITORS
Amounts falling due after more than one
year

7

37,161

37,161
NET LIABILITIES (79,375 ) (79,375 )

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings (79,474 ) (79,474 )
SHAREHOLDERS' FUNDS (79,375 ) (79,375 )

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

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

The directors acknowledge their 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.

Spirits Bar Ltd (Registered number: 10586705)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Ms S Topp - Director


Spirits Bar Ltd (Registered number: 10586705)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Spirits Bar Ltd 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.

The company was dormant throughout the current year and previous year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current which 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 191,780
DEPRECIATION
At 1 February 2023
and 31 January 2024 88,694
NET BOOK VALUE
At 31 January 2024 103,086
At 31 January 2023 103,086

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 22,929 22,929

Spirits Bar Ltd (Registered number: 10586705)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 13,784 13,784
Amounts owed to associates 54,997 54,997
Social security and other taxes 34,465 34,465
VAT 20,943 20,943
Other creditors 23,724 23,724
Directors' current accounts 8,697 8,697
Accrued expenses 1,710 1,710
168,320 168,320

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 27,161 27,161
37,161 37,161

8. RELATED PARTY DISCLOSURES

The company is controlled by the three directors, who jointly own 100% of the issued ordinary share capital.

During the year, Spirits Bar Ltd received loans from Escape Asylum Limited, a company that is also 100% owned by the same three directors.

At the year end, Spirits Bar Limited owed Escape Asylum Limited, a company that is also 100% owned by the same three directors, £54,997 (2022- £54,997) which is included in creditors.

9. GOING CONCERN

In 2019, the company moved into new premises as part of an expansion. The new premises encountered severe ongoing flooding issues caused by Severn Trent. This forced the business to close for 6 months of that financial year. Severn Trent fixed the issue on 15th March 2020. This plus Covid impacted the business significantly. There is an ongoing claim against Severn Trent for damages.The director's believe that the company will return to profitability when it restarts trading following settlement of the claim with Severn Trent. Accordingly, the accounts have been prepared on a going concern basis.