2023-03-012024-02-282024-02-28falseSC238503MAIN STREET BARS LIMITED2024-11-10iso4217:GBPxbrli:pureSC2385032023-03-01SC2385032024-02-28SC2385032023-03-012024-02-28SC2385032022-03-01SC2385032023-02-28SC2385032022-03-012023-02-28SC238503bus:SmallEntities2023-03-012024-02-28SC238503bus:AuditExempt-NoAccountantsReport2023-03-012024-02-28SC238503bus:FullAccounts2023-03-012024-02-28SC238503bus:PrivateLimitedCompanyLtd2023-03-012024-02-28SC238503core:WithinOneYear2024-02-28SC238503core:AfterOneYear2024-02-28SC238503core:WithinOneYear2023-02-28SC238503core:AfterOneYear2023-02-28SC238503core:ShareCapital2024-02-28SC238503core:SharePremium2024-02-28SC238503core:RevaluationReserve2024-02-28SC238503core:OtherReservesSubtotal2024-02-28SC238503core:RetainedEarningsAccumulatedLosses2024-02-28SC238503core:ShareCapital2023-02-28SC238503core:SharePremium2023-02-28SC238503core:RevaluationReserve2023-02-28SC238503core:OtherReservesSubtotal2023-02-28SC238503core:RetainedEarningsAccumulatedLosses2023-02-28SC238503core:LandBuildings2024-02-28SC238503core:PlantMachinery2024-02-28SC238503core:Vehicles2024-02-28SC238503core:FurnitureFittings2024-02-28SC238503core:OfficeEquipment2024-02-28SC238503core:NetGoodwill2024-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2024-02-28SC238503core:ListedExchangeTraded2024-02-28SC238503core:UnlistedNon-exchangeTraded2024-02-28SC238503core:LandBuildings2023-02-28SC238503core:PlantMachinery2023-02-28SC238503core:Vehicles2023-02-28SC238503core:FurnitureFittings2023-02-28SC238503core:OfficeEquipment2023-02-28SC238503core:NetGoodwill2023-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2023-02-28SC238503core:ListedExchangeTraded2023-02-28SC238503core:UnlistedNon-exchangeTraded2023-02-28SC238503core:LandBuildings2023-03-012024-02-28SC238503core:PlantMachinery2023-03-012024-02-28SC238503core:Vehicles2023-03-012024-02-28SC238503core:FurnitureFittings2023-03-012024-02-28SC238503core:OfficeEquipment2023-03-012024-02-28SC238503core:NetGoodwill2023-03-012024-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-28SC238503core:ListedExchangeTraded2023-03-012024-02-28SC238503core:UnlistedNon-exchangeTraded2023-03-012024-02-28SC238503core:MoreThanFiveYears2023-03-012024-02-28SC238503core:Non-currentFinancialInstruments2024-02-28SC238503core:Non-currentFinancialInstruments2023-02-28SC238503dpl:CostSales2023-03-012024-02-28SC238503dpl:DistributionCosts2023-03-012024-02-28SC238503core:LandBuildings2023-03-012024-02-28SC238503core:PlantMachinery2023-03-012024-02-28SC238503core:Vehicles2023-03-012024-02-28SC238503core:FurnitureFittings2023-03-012024-02-28SC238503core:OfficeEquipment2023-03-012024-02-28SC238503dpl:AdministrativeExpenses2023-03-012024-02-28SC238503core:NetGoodwill2023-03-012024-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-28SC238503dpl:GroupUndertakings2023-03-012024-02-28SC238503dpl:ParticipatingInterests2023-03-012024-02-28SC238503dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-28SC238503core:ListedExchangeTraded2023-03-012024-02-28SC238503dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-28SC238503core:UnlistedNon-exchangeTraded2023-03-012024-02-28SC238503dpl:CostSales2022-03-012023-02-28SC238503dpl:DistributionCosts2022-03-012023-02-28SC238503core:LandBuildings2022-03-012023-02-28SC238503core:PlantMachinery2022-03-012023-02-28SC238503core:Vehicles2022-03-012023-02-28SC238503core:FurnitureFittings2022-03-012023-02-28SC238503core:OfficeEquipment2022-03-012023-02-28SC238503dpl:AdministrativeExpenses2022-03-012023-02-28SC238503core:NetGoodwill2022-03-012023-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-28SC238503dpl:GroupUndertakings2022-03-012023-02-28SC238503dpl:ParticipatingInterests2022-03-012023-02-28SC238503dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-28SC238503core:ListedExchangeTraded2022-03-012023-02-28SC238503dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-28SC238503core:UnlistedNon-exchangeTraded2022-03-012023-02-28SC238503core:NetGoodwill2024-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2024-02-28SC238503core:LandBuildings2024-02-28SC238503core:PlantMachinery2024-02-28SC238503core:Vehicles2024-02-28SC238503core:FurnitureFittings2024-02-28SC238503core:OfficeEquipment2024-02-28SC238503core:AfterOneYear2024-02-28SC238503core:WithinOneYear2024-02-28SC238503core:ListedExchangeTraded2024-02-28SC238503core:UnlistedNon-exchangeTraded2024-02-28SC238503core:ShareCapital2024-02-28SC238503core:SharePremium2024-02-28SC238503core:RevaluationReserve2024-02-28SC238503core:OtherReservesSubtotal2024-02-28SC238503core:RetainedEarningsAccumulatedLosses2024-02-28SC238503core:NetGoodwill2023-02-28SC238503core:IntangibleAssetsOtherThanGoodwill2023-02-28SC238503core:LandBuildings2023-02-28SC238503core:PlantMachinery2023-02-28SC238503core:Vehicles2023-02-28SC238503core:FurnitureFittings2023-02-28SC238503core:OfficeEquipment2023-02-28SC238503core:AfterOneYear2023-02-28SC238503core:WithinOneYear2023-02-28SC238503core:ListedExchangeTraded2023-02-28SC238503core:UnlistedNon-exchangeTraded2023-02-28SC238503core:ShareCapital2023-02-28SC238503core:SharePremium2023-02-28SC238503core:RevaluationReserve2023-02-28SC238503core:OtherReservesSubtotal2023-02-28SC238503core:RetainedEarningsAccumulatedLosses2023-02-28SC238503core:NetGoodwill2022-03-01SC238503core:IntangibleAssetsOtherThanGoodwill2022-03-01SC238503core:LandBuildings2022-03-01SC238503core:PlantMachinery2022-03-01SC238503core:Vehicles2022-03-01SC238503core:FurnitureFittings2022-03-01SC238503core:OfficeEquipment2022-03-01SC238503core:AfterOneYear2022-03-01SC238503core:WithinOneYear2022-03-01SC238503core:ListedExchangeTraded2022-03-01SC238503core:UnlistedNon-exchangeTraded2022-03-01SC238503core:ShareCapital2022-03-01SC238503core:SharePremium2022-03-01SC238503core:RevaluationReserve2022-03-01SC238503core:OtherReservesSubtotal2022-03-01SC238503core:RetainedEarningsAccumulatedLosses2022-03-01SC238503core:AfterOneYear2023-03-012024-02-28SC238503core:WithinOneYear2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:CostValuation2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-012024-02-28SC238503core:Non-currentFinancialInstrumentscore:CostValuation2024-02-28SC238503core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-02-28SC238503core:Non-currentFinancialInstrumentscore:CostValuation2023-02-28SC238503core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-02-28SC238503core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-02-28SC238503bus:Director12023-03-012024-02-28SC238503bus:Director22023-03-012024-02-28SC238503bus:Director32023-03-012024-02-28SC238503core:FurnitureFittingsToolsEquipment2023-02-28SC238503core:FurnitureFittingsToolsEquipment2024-02-28SC238503core:FurnitureFittingsToolsEquipment2023-03-012024-02-28

MAIN STREET BARS LIMITED

Registered Number
SC238503
(Scotland)

Unaudited Financial Statements for the Period ended
28 February 2024

MAIN STREET BARS LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024

Directors

ANDERSON, Graeme
ANDERSON, John
CAMPBELL, Gordon

Company Secretary

ANDERSON, Graeme

Registered Address

15 Firethorn Drive
Cumbernauld
Glasgow
G68 9GL

Registered Number

SC238503 (Scotland)
MAIN STREET BARS LIMITED
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3111,432114,962
111,432114,962
Current assets
Stocks3,8803,450
Debtors41,000905
Cash at bank and on hand64,32564,325
69,20568,680
Creditors amounts falling due within one year5(60,219)(71,485)
Net current assets (liabilities)8,986(2,805)
Total assets less current liabilities120,418112,157
Creditors amounts falling due after one year6(13,066)(23,378)
Provisions for liabilities(556)(541)
Net assets106,79688,238
Capital and reserves
Called up share capital1,0001,000
Profit and loss account105,79687,238
Shareholders' funds106,79688,238
The financial statements were approved and authorised for issue by the Board of Directors on 10 November 2024, and are signed on its behalf by:
ANDERSON, Graeme
Director
ANDERSON, John
Director
CAMPBELL, Gordon
Director

Registered Company No. SC238503
MAIN STREET BARS LIMITED
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings15-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 March 23150,70046,441197,141
At 28 February 24150,70046,441197,141
Depreciation and impairment
At 01 March 2339,18242,99782,179
Charge for year3,0145163,530
At 28 February 2442,19643,51385,709
Net book value
At 28 February 24108,5042,928111,432
At 28 February 23111,5183,444114,962
4.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income1,000905
Total1,000905
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,7978,259
Bank borrowings and overdrafts10,31210,128
Amounts owed to related parties16,00016,000
Taxation and social security10,60710,749
Other creditors12,00321,599
Accrued liabilities and deferred income1,5004,750
Total60,21971,485
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,06623,378
Total13,06623,378
7.Related party transactions
During the year the company received an interest free loan from the director amouting to £16,000 (2023 £16,000).