Registered number
11257589
SCHOOL LANE BAR & RESTAURANT LTD
Filleted Accounts
31 March 2024
SCHOOL LANE BAR & RESTAURANT LTD
Registered number: 11257589
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 988,590 988,590
Current assets
Debtors 4 12,094 375,470
Cash at bank and in hand 368,542 49,838
380,636 425,308
Creditors: amounts falling due within one year 5 (22,792) (29,329)
Net current assets 357,844 395,979
Total assets less current liabilities 1,346,434 1,384,569
Creditors: amounts falling due after more than one year 6 (867,722) (877,875)
Net assets 478,712 506,694
Capital and reserves
Called up share capital 100 100
Share premium 499,900 499,900
Profit and loss account (21,288) 6,694
Shareholder's funds 478,712 506,694
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Heenan
Director
Approved by the board on 26 November 2024
SCHOOL LANE BAR & RESTAURANT LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
Turnover
Turnover represents rental income receivable from letting out own property.
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 April 2023 988,590
At 31 March 2024 988,590
Historical cost
At 1 April 2023 988,590
At 31 March 2024 988,590
4 Debtors 2024 2023
£ £
Trade debtors and prepayments 12,094 375,470
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,127 10,100
Trade creditors and accruals 3,634 2,950
Corporation tax 8,687 13,386
Other creditors - director's loan account 344 2,893
22,792 29,329
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 867,722 877,875
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 850,000 850,000
Secured bank loans 850,000 850,000
The loans are secured on the fixed asset investments.
8 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
9 Contingent liabilities
There were no contingent liabilities in existence at the year end.
10 Controlling party
The company is controlled by it's sole director and shareholder, Mr J Heenan.
11 Other information
SCHOOL LANE BAR & RESTAURANT LTD is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
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