Registered number
05248724
BACK INN TIME DINER LTD
Filleted Accounts
30 April 2024
BACK INN TIME DINER LTD
Registered number: 05248724
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 15,341 26,656
Tangible assets 4 28,494 20,604
43,835 47,260
Current assets
Stocks 18,250 27,505
Debtors 5 64,381 2,721
Cash at bank and in hand 11,019 40,612
93,650 70,838
Creditors: amounts falling due within one year 6 (258,018) (249,702)
Net current liabilities (164,368) (178,864)
Total assets less current liabilities (120,533) (131,604)
Creditors: amounts falling due after more than one year 7 (42,174) (65,174)
Provisions for liabilities (3,764) (3,764)
Net liabilities (166,471) (200,542)
Capital and reserves
Called up share capital 34 34
Share premium 178,474 178,474
Profit and loss account (344,979) (379,050)
Shareholders' funds (166,471) (200,542)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Derminder Singh Bhangal
Director
Approved by the board on 27.01.2025
BACK INN TIME DINER LTD
Notes to the Accounts
for the year ended 30 April 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 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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 25% WDV
Plant and machinery 25% WDV
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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, 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 226,294
At 30 April 2024 226,294
Amortisation
At 1 May 2023 199,638
Provided during the year 11,315
At 30 April 2024 210,953
Net book value
At 30 April 2024 15,341
At 30 April 2023 26,656
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 77,266 119,180 196,446
Additions - 11,050 11,050
At 30 April 2024 77,266 130,230 207,496
Depreciation
At 1 May 2023 73,447 102,395 175,842
Charge for the year 955 2,205 3,160
At 30 April 2024 74,402 104,600 179,002
Net book value
At 30 April 2024 2,864 25,630 28,494
At 30 April 2023 3,819 16,785 20,604
5 Debtors 2024 2023
£ £
Other debtors 64,381 2,721
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 33,988 34,677
Trade creditors 132,834 96,539
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4,981 4,981
Taxation and social security costs 68,816 96,339
Other creditors 17,399 17,166
258,018 249,702
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 42,174 65,174
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 54,000 80,000
9 Other information
BACK INN TIME DINER LTD is a private company limited by shares and incorporated in England. Its registered office is:
Charter House
8-10 Station Road
Manor Park
London
E12 5Bt
BACK INN TIME DINER LTD 05248724 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 Derminder Singh Bhangal No description of principal activity 05248724 2022-05-01 2023-04-30 05248724 core:WithinOneYear 2023-04-30 05248724 core:AfterOneYear 2023-04-30 05248724 core:ShareCapital 2023-04-30 05248724 core:SharePremium 2023-04-30 05248724 core:RetainedEarningsAccumulatedLosses 2023-04-30 05248724 core:AllPeriods 2023-04-30 05248724 2023-05-01 2024-04-30 05248724 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05248724 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05248724 bus:Director40 2023-05-01 2024-04-30 05248724 1 2023-05-01 2024-04-30 05248724 2 2023-05-01 2024-04-30 05248724 core:Goodwill 2023-05-01 2024-04-30 05248724 core:LandBuildings 2023-05-01 2024-04-30 05248724 core:PlantMachinery 2023-05-01 2024-04-30 05248724 countries:England 2023-05-01 2024-04-30 05248724 bus:FRS102 2023-05-01 2024-04-30 05248724 bus:FilletedAccounts 2023-05-01 2024-04-30 05248724 2024-04-30 05248724 core:WithinOneYear 2024-04-30 05248724 core:AfterOneYear 2024-04-30 05248724 core:ShareCapital 2024-04-30 05248724 core:SharePremium 2024-04-30 05248724 core:RetainedEarningsAccumulatedLosses 2024-04-30 05248724 core:Goodwill 2024-04-30 05248724 core:LandBuildings 2024-04-30 05248724 core:PlantMachinery 2024-04-30 05248724 core:AllPeriods 2024-04-30 05248724 2023-04-30 05248724 core:Goodwill 2023-04-30 05248724 core:LandBuildings 2023-04-30 05248724 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure