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Registration number: 10866580

The Bert Linnecor Sports Bar Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Bert Linnecor Sports Bar Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Bert Linnecor Sports Bar Limited

Company Information

Directors

Stephen Bell

Robert Edward Taylor

Steven McDowell

Tom Jarvis

Registered office

Ruston Sports and Social Club
Newark Road
Lincoln
Lincolnshire
LN6 8RN

Accountants

M.G. Walker & Co. Limited
119a High Street
Clay Cross
Chesterfield
Derbyshire
S45 9DZ

 

The Bert Linnecor Sports Bar Limited

(Registration number: 10866580)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

241

491

Tangible assets

5

12,555

11,908

 

12,796

12,399

Current assets

 

Stocks

6

8,189

5,025

Debtors

7

43,709

47,995

Cash at bank and in hand

 

43,346

50,922

 

95,244

103,942

Creditors: Amounts falling due within one year

8

(81,593)

(85,157)

Net current assets

 

13,651

18,785

Total assets less current liabilities

 

26,447

31,184

Creditors: Amounts falling due after more than one year

8

(25,726)

(30,860)

Net assets

 

721

324

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

719

322

Shareholders' funds

 

721

324

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 4 July 2024 and signed on its behalf by:
 

 

The Bert Linnecor Sports Bar Limited

(Registration number: 10866580)
Balance Sheet as at 31 March 2024

.........................................
Tom Jarvis
Director

 

The Bert Linnecor Sports Bar Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ruston Sports and Social Club
Newark Road
Lincoln
Lincolnshire
LN6 8RN
England

These financial statements were authorised for issue by the Board on 4 July 2024.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

The Bert Linnecor Sports 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

Other tangible assets

25% straight line

Office Equipment

25% straight line

Intangible assets

Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

25% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Bert Linnecor Sports Bar Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 21).

 

The Bert Linnecor Sports Bar Limited

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

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 April 2023

998

998

At 31 March 2024

998

998

Amortisation

At 1 April 2023

507

507

Amortisation charge

250

250

At 31 March 2024

757

757

Carrying amount

At 31 March 2024

241

241

At 31 March 2023

491

491

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,836

25,365

28,201

Additions

8,677

-

8,677

Disposals

-

(4,770)

(4,770)

At 31 March 2024

11,513

20,595

32,108

Depreciation

At 1 April 2023

709

15,584

16,293

Charge for the year

2,879

5,151

8,030

Eliminated on disposal

-

(4,770)

(4,770)

At 31 March 2024

3,588

15,965

19,553

Carrying amount

At 31 March 2024

7,925

4,630

12,555

At 31 March 2023

2,127

9,781

11,908

 

The Bert Linnecor Sports Bar Limited

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

6

Stocks

2024
£

2023
£

Other inventories

8,189

5,025

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

9,895

17,491

Amounts owed by related parties

32,198

24,472

Other debtors

 

1,616

6,032

   

43,709

47,995

 

The Bert Linnecor Sports Bar Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,611

5,648

Trade creditors

 

16,878

25,693

Taxation and social security

 

8,676

7,727

Accruals and deferred income

 

19,842

18,590

Other creditors

 

30,586

27,499

 

81,593

85,157

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

25,726

30,860

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

25,726

30,860

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,611

5,648