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REGISTERED NUMBER: 10268548 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

NUMBER ONE CHAMPAGNE BAR LIMITED

NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

NUMBER ONE CHAMPAGNE BAR LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Pearson
D Pearson





REGISTERED OFFICE: 43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH





REGISTERED NUMBER: 10268548 (England and Wales)





ACCOUNTANTS: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)

Abridged Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 595,494 597,006

CURRENT ASSETS
Stocks 6,000 7,000
Debtors 233,198 193,501
Cash at bank and in hand 88,053 100,711
327,251 301,212
CREDITORS
Amounts falling due within one year 513,344 610,924
NET CURRENT LIABILITIES (186,093 ) (309,712 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,401

287,294

PROVISIONS FOR LIABILITIES 5,678 6,693
NET ASSETS 403,723 280,601

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 403,423 280,301
403,723 280,601

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 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.

NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)

Abridged 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 October 2024 and were signed on its behalf by:





D Pearson - Director


NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)

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

1. STATUTORY INFORMATION

Number One Champagne 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 financial statements have been prepared on a going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - not provided
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

No depreciation charge is made on Improvements to property on the grounds that due to the practice of regular maintenance and repair (charges for which are recognised in the profit and loss account), the assets are kept to their previously assessed standard. The residual value of Improvements to property is therefore considered not to be materially different from the carrying amount of the asset. Any such depreciation charge would be immaterial to the financial statements.

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.


NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)

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

2. ACCOUNTING POLICIES - continued
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 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 611,376
Additions 2,492
At 31 March 2024 613,868
DEPRECIATION
At 1 April 2023 14,370
Charge for year 4,004
At 31 March 2024 18,374
NET BOOK VALUE
At 31 March 2024 595,494
At 31 March 2023 597,006

NUMBER ONE CHAMPAGNE BAR LIMITED (REGISTERED NUMBER: 10268548)

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

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
D Pearson and P Pearson
Balance outstanding at start of year - 15,038
Amounts advanced - 28,707
Amounts repaid - (43,745 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan is interest free and repayable on demand.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Number One Champagne Bar Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Number One Champagne Bar Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Number One Champagne Bar Limited, as a body, in accordance with the terms of our engagement letter dated 27 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Number One Champagne Bar Limited and state those matters that we have agreed to state to the Board of Directors of Number One Champagne Bar Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Number One Champagne Bar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Number One Champagne Bar Limited. You consider that Number One Champagne Bar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Number One Champagne Bar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


2 October 2024