Registered number
10725815
Rumour Wine Bar and Restaurant Limited
Filleted Accounts
30 April 2024
Rumour Wine Bar and Restaurant Limited
Registered number: 10725815
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 74,876 75,402
Current assets
Stocks 7,500 7,500
Cash at bank and in hand 239,662 212,549
247,162 220,049
Creditors: amounts falling due within one year 5 (292,512) (340,910)
Net current liabilities (45,350) (120,861)
Net assets/(liabilities) 29,526 (45,459)
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,426 (45,559)
Shareholder's funds 29,526 (45,459)
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 her 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 B Singh Bal
Director
Approved by the board on 29 January 2025
Rumour Wine Bar and Restaurant Limited
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.
Goodwill Over 5 years following year of purchase
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 Nil
Plant and machinery 20% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The company’s balance sheet shows a net liability position. However, the directors consider the company can continue to rely upon their own support to ensure that its liabilities can be settled when they fall due. Accordingly, these financial statements have been prepared on a going concern basis and do not include any provision for adjustments that may become necessary if the support referred to above were withdrawn.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 180,000
At 30 April 2024 180,000
Amortisation
At 1 May 2023 180,000
At 30 April 2024 180,000
Net book value
At 30 April 2024 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 50,000 87,959 137,959
Additions - 6,364 6,364
At 30 April 2024 50,000 94,323 144,323
Depreciation
At 1 May 2023 - 62,557 62,557
Charge for the year - 6,890 6,890
At 30 April 2024 - 69,447 69,447
Net book value
At 30 April 2024 50,000 24,876 74,876
At 30 April 2023 50,000 25,402 75,402
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 33,025 38,793
Trade creditors 62,086 30,587
Corporation tax 21,278 11,792
Other taxes and social security costs 44,007 37,391
Other creditors 132,116 222,347
292,512 340,910
6 Related party transactions
The company has contracted the management services of Chescombe Limited ,a company in which the director Mr B Singh has a controlling interest. The total amount of services contracted for in the year was £17,785 (2023 £8,755) .These transactions were carried out on an arms length basis.
7 Other information
Rumour Wine Bar and Restaurant Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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