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REGISTERED NUMBER: 13011842 (England and Wales)















THE VAULTS BAR & BISTRO LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE VAULTS BAR & BISTRO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: L S Humphrys





REGISTERED OFFICE: 30-32 Market Street
Chorley
United Kingdom
Lancashire
PR7 2SE





REGISTERED NUMBER: 13011842 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 - 269,864
Investment property 5 85,000 125,000
85,000 394,864

CURRENT ASSETS
Inventories - 1,100
Debtors 6 2,037 4,119
Cash at bank 1,878 4,711
3,915 9,930
CREDITORS
Amounts falling due within one year 7 (59,736 ) (292,135 )
NET CURRENT LIABILITIES (55,821 ) (282,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,179

112,659

CAPITAL AND RESERVES
Called up share capital 225,001 225,001
Retained earnings (195,822 ) (112,342 )
29,179 112,659

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 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.

THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





L S Humphrys - Director


THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

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


1. STATUTORY INFORMATION

The Vaults Bar & Bistro Limited is a private company, limited by shares, registered in England and Wales. The registered number is 13011842 and the registered office address is 30-32 Market Street, Chorley, Lancashire, PR7 2SE.

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.

Going concern
Whilst the future remains uncertain for the hospitality sector as a whole, the director, having considered available cash resources and taken account of customer goodwill, remains confident that the company is a going concern. Accordingly, the accounts have been prepared on the going concern basis.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continuously evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and judgements which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgements in calculating an appropriate depreciation charge.

Making judgement based on historical experience on the valuation of investment properties.

Revenue
Revenue is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, excluding discounts and value added tax.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the period of the lease
Plant and machinery etc - 15% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income.

THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

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


2. ACCOUNTING POLICIES - continued

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

Cost represents actual purchase price.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like accounts receivable and payable and loans from other third parties and related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 2 ) .

THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

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


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 243,000 36,115 279,115
Disposals (243,000 ) (36,115 ) (279,115 )
At 31 January 2024 - - -
DEPRECIATION
At 1 February 2023 492 8,759 9,251
Eliminated on disposal (492 ) (8,759 ) (9,251 )
At 31 January 2024 - - -
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 242,508 27,356 269,864

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 125,000
Impairments (40,000 )
At 31 January 2024 85,000
NET BOOK VALUE
At 31 January 2024 85,000
At 31 January 2023 125,000

The investment property has been valued by the director on an open market basis at the year end. The historic cost of the investment property is £125,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,200 -
Other debtors 837 4,119
2,037 4,119

THE VAULTS BAR & BISTRO LIMITED (REGISTERED NUMBER: 13011842)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 438 33,257
Amounts owed to group undertakings 46,253 52,901
Taxation and social security 317 2,162
Other creditors 12,728 203,815
59,736 292,135

8. PARENT COMPANY

The company is wholly owned by The Vaults Group Limited, a company registered in England and
Wales, which is the immediate controlling party and the ultimate parent company.