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REGISTERED NUMBER: SC270793 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

THE OLD BANK BAR LTD.

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Contents of the Financial Statements
for the Year Ended 28 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE OLD BANK BAR LTD.

Company Information
for the Year Ended 28 February 2024







DIRECTOR: J Smart





REGISTERED OFFICE: 5 Carden Place
Aberdeen
Aberdeenshire
AB10 1UT





REGISTERED NUMBER: SC270793 (Scotland)






THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,424 68,009

CURRENT ASSETS
Stocks 4,962 4,962
Debtors 5 51,683 132,656
Cash at bank and in hand 25,012 11,817
81,657 149,435
CREDITORS
Amounts falling due within one year 6 212,744 211,923
NET CURRENT LIABILITIES (131,087 ) (62,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(73,663

)

5,521

CREDITORS
Amounts falling due after more than one
year

7

(32,887

)

(38,579

)

PROVISIONS FOR LIABILITIES (590 ) (590 )
NET LIABILITIES (107,140 ) (33,648 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (107,240 ) (33,748 )
(107,140 ) (33,648 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Balance Sheet - continued
28 February 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 director and authorised for issue on 27 November 2024 and were signed by:





J Smart - Director


THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Notes to the Financial Statements
for the Year Ended 28 February 2024


1. STATUTORY INFORMATION

The Old Bank Bar Ltd. is a private company, limited by shares , registered in Scotland. 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.

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.
Improvements to property - 4% on cost
Fixtures and fittings - 20% on cost

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.

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.

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


2. ACCOUNTING POLICIES - continued

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 March 2023
and 28 February 2024 226,891 45,394 272,285
DEPRECIATION
At 1 March 2023 162,545 41,731 204,276
Charge for year 9,076 1,509 10,585
At 28 February 2024 171,621 43,240 214,861
NET BOOK VALUE
At 28 February 2024 55,270 2,154 57,424
At 28 February 2023 64,346 3,663 68,009

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 51,683 132,656

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,405 5,244
Trade creditors 8,537 12,885
Taxation and social security 13,337 9,475
Other creditors 185,465 184,319
212,744 211,923

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 32,887 38,579

THE OLD BANK BAR LTD. (REGISTERED NUMBER: SC270793)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,604 15,972

8. ULTIMATE CONTROLLING PARTY

The controlling party is J Smart.