2023-03-012024-02-292024-02-29false07128741Q BARS & RESTAURANTS 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Q BARS & RESTAURANTS LIMITED

Registered Number
07128741
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Q BARS & RESTAURANTS LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

BURSTON, Benjamin Thomas
QUELCH, Jonathan Kristian James

Registered Address

Trinder House Free Street
Bishops Waltham
Southampton
SO32 1EE

Registered Number

07128741 (England and Wales)
Q BARS & RESTAURANTS LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets347,91952,055
47,91952,055
Current assets
Stocks25,89626,995
Debtors13,53140,898
Cash at bank and on hand43,58651,981
83,013119,874
Creditors amounts falling due within one year(146,468)(177,332)
Net current assets (liabilities)(63,455)(57,458)
Total assets less current liabilities(15,536)(5,403)
Creditors amounts falling due after one year(33,897)(44,315)
Net assets(49,433)(49,718)
Capital and reserves
Called up share capital100100
Profit and loss account(49,533)(49,818)
Shareholders' funds(49,433)(49,718)
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2024, and are signed on its behalf by:
BURSTON, Benjamin Thomas
Director
QUELCH, Jonathan Kristian James
Director

Registered Company No. 07128741
Q BARS & RESTAURANTS LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year025
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23181,768
Additions11,855
At 29 February 24193,623
Depreciation and impairment
At 01 March 23129,713
Charge for year15,991
At 29 February 24145,704
Net book value
At 29 February 2447,919
At 28 February 2352,055