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Company No: 13016413 (England and Wales)

CIRCUS RESTAURANT BATH LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CIRCUS RESTAURANT BATH LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CIRCUS RESTAURANT BATH LTD

BALANCE SHEET

As at 30 April 2024
CIRCUS RESTAURANT BATH LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 36,789 54,789
Tangible assets 4 24,732 30,916
61,521 85,705
Current assets
Stocks 5 8,000 12,000
Debtors 6 30,573 10,359
Cash at bank and in hand 7 182,481 189,694
221,054 212,053
Creditors: amounts falling due within one year 8 ( 186,659) ( 198,874)
Net current assets 34,395 13,179
Total assets less current liabilities 95,916 98,884
Provision for liabilities ( 6,183) ( 6,016)
Net assets 89,733 92,868
Capital and reserves
Called-up share capital 102 102
Share premium account 365 0
Profit and loss account 89,266 92,766
Total shareholders' funds 89,733 92,868

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Circus Restaurant Bath Ltd (registered number: 13016413) were approved and authorised for issue by the Board of Directors on 17 January 2025. They were signed on its behalf by:

M R Lisanti
Director
M A Lisanti
Director
CIRCUS RESTAURANT BATH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CIRCUS RESTAURANT BATH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Circus Restaurant Bath Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 17

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 90,000 90,000
At 30 April 2024 90,000 90,000
Accumulated amortisation
At 01 May 2023 35,211 35,211
Charge for the financial year 18,000 18,000
At 30 April 2024 53,211 53,211
Net book value
At 30 April 2024 36,789 36,789
At 30 April 2023 54,789 54,789

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 May 2023 45,000 2,250 47,250
At 30 April 2024 45,000 2,250 47,250
Accumulated depreciation
At 01 May 2023 15,884 450 16,334
Charge for the financial year 5,824 360 6,184
At 30 April 2024 21,708 810 22,518
Net book value
At 30 April 2024 23,292 1,440 24,732
At 30 April 2023 29,116 1,800 30,916

5. Stocks

2024 2023
£ £
Stocks 8,000 12,000

6. Debtors

2024 2023
£ £
Trade debtors 2,254 10,184
Other debtors 28,319 175
30,573 10,359

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 182,481 189,694

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 57,984 60,662
Taxation and social security 104,914 94,218
Other creditors 23,761 43,994
186,659 198,874