Registration number:
Liden Community Centre Bar Limited
for the Year Ended 31 March 2024
Liden Community Centre Bar Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Liden Community Centre Bar Limited
(Registration number: 02504584)
Balance Sheet as at 31 March 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Shareholders' funds |
2 |
2 |
Liden Community Centre Bar Limited
(Registration number: 02504584)
Balance Sheet as at 31 March 2024
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Liden Community Centre Bar Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary values in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover represents amounts receivable for goods and services, net of VAT.
Revenue from the sale of food and drink and other bar sales is recognised when the significant risks and rewards of ownership of the goods have passed to the customer, the amount of revenue can be measured reliably, it is probably that the economic benefits associated with the transactions will flow to the entity and the costs incurred, or to be incurred, in respect of the transactions can be measured reliably.
Tax
The tax expense for the period comprises current tax.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Liden Community Centre Bar Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Tenants' improvements |
5% straight line basis |
Plant and machinery etc |
25% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
In accordance with the company's memorandum and articles profits are to be donated to the parent charity Liden Community Council (Charity Number 800155), and are recognised as a liability in the financial period they arise.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Grants
Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.
Employee benefits
The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlementis recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee, or to provide termination benefits.
Liden Community Centre Bar Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Tenants' Improvements |
Plant and machinery etc |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
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Disposals |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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Eliminated on disposal |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Liden Community Centre Bar Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Other creditors |
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Related party transactions |
Summary of transactions with parent
Liden Community Centre Bar Limited was incorporated on 22 May 1990 for the purpose of taking over bar operations of the Liden Community Council (the charity) and is a trading subsidiary of the charity. The company is controlled by Liden Community Council (Charity Number 800155)
The charity's address is Liden Community Centre, Barrington Close, Liden, Swindon, SN3 6HF.
Transactions with Liden Community Council
Profits to be donated £12,443 (2023: £12,014).
Amount due to the charity at the balance sheet date amounted to £8,612 (2023: £10,840). These figures include the profits to be donated.
Parent and ultimate parent undertaking |
The charity's address is Liden Community Council, Barrington Close, Liden, Swindon, SN3 6HF.