0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11823630 2023-03-01 2024-02-29 11823630 2024-02-29 11823630 2023-02-28 11823630 2022-03-01 2023-02-28 11823630 2023-02-28 11823630 2022-02-28 11823630 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11823630 core:PlantMachinery 2023-03-01 2024-02-29 11823630 core:FurnitureFittings 2023-03-01 2024-02-29 11823630 core:MotorVehicles 2023-03-01 2024-02-29 11823630 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 11823630 bus:Director1 2023-03-01 2024-02-29 11823630 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 11823630 core:PlantMachinery 2023-02-28 11823630 core:FurnitureFittings 2023-02-28 11823630 core:MotorVehicles 2023-02-28 11823630 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 11823630 core:PlantMachinery 2024-02-29 11823630 core:FurnitureFittings 2024-02-29 11823630 core:MotorVehicles 2024-02-29 11823630 core:WithinOneYear 2024-02-29 11823630 core:WithinOneYear 2023-02-28 11823630 core:AfterOneYear 2024-02-29 11823630 core:AfterOneYear 2023-02-28 11823630 core:ShareCapital 2024-02-29 11823630 core:ShareCapital 2023-02-28 11823630 core:RetainedEarningsAccumulatedLosses 2024-02-29 11823630 core:RetainedEarningsAccumulatedLosses 2023-02-28 11823630 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 11823630 core:PlantMachinery 2023-02-28 11823630 core:FurnitureFittings 2023-02-28 11823630 core:MotorVehicles 2023-02-28 11823630 bus:SmallEntities 2023-03-01 2024-02-29 11823630 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11823630 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11823630 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11823630 bus:FullAccounts 2023-03-01 2024-02-29 11823630 bus:OrdinaryShareClass1 2024-02-29 11823630 bus:OrdinaryShareClass1 2023-02-28
COMPANY REGISTRATION NUMBER: 11823630
Grey's Coffee Bar Ltd
Filleted Unaudited Financial Statements
29 February 2024
Grey's Coffee Bar Ltd
Financial Statements
Year ended 29 February 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Grey's Coffee Bar Ltd
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Called up share capital not paid
49,999
49,999
Fixed assets
Tangible assets
4
13,460
15,148
Current assets
Stocks
376
Debtors
5
755
1,205
Cash at bank and in hand
261
145
-------
-------
1,016
1,726
Creditors: amounts falling due within one year
6
( 75,898)
( 60,376)
--------
--------
Net current liabilities
( 74,882)
( 58,650)
--------
--------
Total assets less current liabilities
( 11,423)
6,497
Creditors: amounts falling due after more than one year
7
( 5,998)
( 6,900)
--------
-------
Net liabilities
( 17,421)
( 403)
--------
-------
Capital and reserves
Called up share capital
8
50,000
50,000
Profit and loss account
( 67,421)
( 50,403)
--------
--------
Shareholders deficit
( 17,421)
( 403)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Grey's Coffee Bar Ltd
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
Miss S. Davies
Director
Company registration number: 11823630
Grey's Coffee Bar Ltd
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 St. Peters Road, Johnston, Haverfordwest, Pembrokeshire, SA62 3PR, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
2% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Mar 2023 and 29 Feb 2024
9,831
1,266
2,061
9,250
291
22,699
-------
-------
-------
-------
----
--------
Depreciation
At 1 Mar 2023
650
629
1,409
4,736
127
7,551
Charge for the year
197
159
163
1,128
41
1,688
-------
-------
-------
-------
----
--------
At 29 Feb 2024
847
788
1,572
5,864
168
9,239
-------
-------
-------
-------
----
--------
Carrying amount
At 29 Feb 2024
8,984
478
489
3,386
123
13,460
-------
-------
-------
-------
----
--------
At 28 Feb 2023
9,181
637
652
4,514
164
15,148
-------
-------
-------
-------
----
--------
5. Debtors
2024
2023
£
£
Other debtors
755
1,205
----
-------
Other debtors include an amount of £nil (2023 - £nil) falling due after more than one year.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts (secured)
1,009
439
Trade creditors
19,989
8,007
Other creditors
54,900
51,930
--------
--------
75,898
60,376
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts (secured)
5,998
6,900
-------
-------
Included within creditors: amounts falling due after more than one year is an amount of £1,963 (2023: £5,144) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
50,000
50,000
50,000
50,000
--------
--------
--------
--------
9. Related party transactions
The company was under the control of Miss S. Davies throughout the current and previous year. Miss S. Davies is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.