Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-017573truetrue 05307060 2023-03-01 2024-02-29 05307060 2022-03-01 2023-02-28 05307060 2024-02-29 05307060 2023-02-28 05307060 c:Director1 2023-03-01 2024-02-29 05307060 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-29 05307060 d:Buildings d:ShortLeaseholdAssets 2024-02-29 05307060 d:Buildings d:ShortLeaseholdAssets 2023-02-28 05307060 d:PlantMachinery 2023-03-01 2024-02-29 05307060 d:PlantMachinery 2024-02-29 05307060 d:PlantMachinery 2023-02-28 05307060 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05307060 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05307060 d:Goodwill 2024-02-29 05307060 d:Goodwill 2023-02-28 05307060 d:CurrentFinancialInstruments 2024-02-29 05307060 d:CurrentFinancialInstruments 2023-02-28 05307060 d:Non-currentFinancialInstruments 2024-02-29 05307060 d:Non-currentFinancialInstruments 2023-02-28 05307060 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 05307060 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05307060 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 05307060 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 05307060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 05307060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 05307060 d:ShareCapital 2024-02-29 05307060 d:ShareCapital 2023-02-28 05307060 d:SharePremium 2024-02-29 05307060 d:SharePremium 2023-02-28 05307060 d:OtherMiscellaneousReserve 2024-02-29 05307060 d:OtherMiscellaneousReserve 2023-02-28 05307060 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 05307060 d:RetainedEarningsAccumulatedLosses 2024-02-29 05307060 d:RetainedEarningsAccumulatedLosses 2023-02-28 05307060 c:FRS102 2023-03-01 2024-02-29 05307060 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05307060 c:FullAccounts 2023-03-01 2024-02-29 05307060 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05307060 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 05307060 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 05307060 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 05307060










SNUG BARS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SNUG BARS LIMITED
REGISTERED NUMBER:05307060

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
106,807
149,860

Current assets
  

Stocks
  
30,621
36,087

Debtors: amounts falling due within one year
 6 
254,333
290,415

Cash at bank and in hand
 7 
36,038
110,938

  
320,992
437,440

Creditors: amounts falling due within one year
 8 
(751,497)
(936,990)

Net current liabilities
  
 
 
(430,505)
 
 
(499,550)

Total assets less current liabilities
  
(323,698)
(349,690)

Creditors: amounts falling due after more than one year
 9 
(18,333)
(28,333)

  

Net liabilities
  
(342,031)
(378,023)


Capital and reserves
  

Called up share capital 
  
8,500
8,500

Share premium account
 12 
1,798
1,798

Other reserves
 12 
18,329
18,329

Profit and loss account
 12 
(370,658)
(406,650)

  
(342,031)
(378,023)


Page 1

 
SNUG BARS LIMITED
REGISTERED NUMBER:05307060
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Giles Fry
Director

Date: 26 November 2024


The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Snug Bars Limited is a limited liability company incorporated in England and Wales. The Company registration number is 5307060. The registered office is 1 French Row, St. Albans, Hertfordshire, AL3 5DU.
The financial statements are presented in pound sterling which is the functional currency of the Company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have prepared the financial statements on the going concern basis which is dependent on the continued financial support of the Company's creditors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short Term Leasehold Property
-
Straight line over the length of the lease
Plant and Machinery
-
Between 1 and 10 years depending on the asset

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 75 (2023 - 73).

Page 6

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
29,793



At 29 February 2024

29,793



Amortisation


At 1 March 2023
29,793



At 29 February 2024

29,793



Net book value



At 29 February 2024
-



At 28 February 2023
-



Page 7

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Short Term Leasehold Property
Plant and Machinery
Total

£
£
£



Cost or valuation


At 1 March 2023
60,307
1,320,372
1,380,679


Additions
-
19,596
19,596


Disposals
-
(12,696)
(12,696)



At 29 February 2024

60,307
1,327,272
1,387,579



Depreciation


At 1 March 2023
50,710
1,180,109
1,230,819


Charge for the year on owned assets
2,154
60,145
62,299


Disposals
-
(12,346)
(12,346)



At 29 February 2024

52,864
1,227,908
1,280,772



Net book value



At 29 February 2024
7,443
99,364
106,807



At 28 February 2023
9,597
140,263
149,860

Page 8

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
14,451
21,739

Other debtors
135,618
170,364

Prepayments and accrued income
93,264
87,312

Deferred taxation
11,000
11,000

254,333
290,415



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
36,038
110,938



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other loans
10,000
10,000

Trade creditors
152,702
271,886

Other taxation and social security
99,751
96,850

Other creditors
434,834
454,047

Accruals and deferred income
54,210
104,207

751,497
936,990



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
18,333
28,333


Page 9

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Other loans
10,000
10,000


Amounts falling due 2-5 years

Bank loans
18,333
28,333


28,333
38,333



11.


Deferred taxation






2024


£






At beginning of year
11,000



At end of year
11,000

The deferred tax asset is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
11,000
11,000


12.


Reserves

Profit and loss account

The profit and loss account is the accumulation of distributable profits from the current and previous periods. 

Page 10

 
SNUG BARS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,731 (2023 - £20,726). Contributions totalling £3,380 (2023 - £10,603) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

There were no transactions with related parties to be disclosed under the requirements of the Financial Reporting Standard 102 - Section 1A.


15.


Controlling party

During the year, the ultimate controlling party of the Company was Mr Giles Fry, who is also a Director.

 
Page 11