2023-04-012024-03-312024-03-31falseNI045829DANIEL'S BARS 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DANIEL'S BARS LTD

Registered Number
NI045829
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

DANIEL'S BARS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

GREGORY (JNR), Daniel

Registered Address

109 Camlough Road
Newry
Co Down
BT35 7EE

Registered Number

NI045829 (Northern Ireland)
DANIEL'S BARS LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3259,809277,066
259,809277,066
Current assets
Stocks70,32070,870
Debtors49,18879
Cash at bank and on hand9,8821,926
129,39072,875
Creditors amounts falling due within one year4(251,499)(190,641)
Net current assets (liabilities)(122,109)(117,766)
Total assets less current liabilities137,700159,300
Creditors amounts falling due after one year(47,359)(67,612)
Provisions for liabilities(27,717)(30,840)
Net assets62,62460,848
Capital and reserves
Called up share capital11
Profit and loss account62,62360,847
Shareholders' funds62,62460,848
The financial statements were approved and authorised for issue by the Director on 29 November 2024, and are signed on its behalf by:
GREGORY (JNR), Daniel
Director
Registered Company No. NI045829
DANIEL'S BARS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. 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.
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.
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:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
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 year99
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23462,933
Additions5,586
At 31 March 24468,519
Depreciation and impairment
At 01 April 23185,866
Charge for year22,844
At 31 March 24208,709
Net book value
At 31 March 24259,809
At 31 March 23277,066
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables164,745139,100
Bank borrowings and overdrafts34,84525,398
Taxation and social security43,70812,599
Finance lease and HP contracts8,0008,000
Other creditors-5,544
Accrued liabilities and deferred income201-
Total251,499190,641
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.
5.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts19,00026,667