Urban Village Bars (NQ) Limited 10640626 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is is that of a bar. Digita Accounts Production Advanced 6.30.9574.0 true true true 10640626 2023-05-01 2024-04-30 10640626 2024-04-30 10640626 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-04-30 10640626 core:CurrentFinancialInstruments 2024-04-30 10640626 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 10640626 core:Non-currentFinancialInstruments 2024-04-30 10640626 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 10640626 core:FurnitureFittingsToolsEquipment 2024-04-30 10640626 core:LandBuildings 2024-04-30 10640626 core:OtherPropertyPlantEquipment 2024-04-30 10640626 bus:SmallEntities 2023-05-01 2024-04-30 10640626 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10640626 bus:FilletedAccounts 2023-05-01 2024-04-30 10640626 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10640626 bus:RegisteredOffice 2023-05-01 2024-04-30 10640626 bus:Director2 2023-05-01 2024-04-30 10640626 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-05-01 2024-04-30 10640626 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10640626 core:ComputerEquipment 2023-05-01 2024-04-30 10640626 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 10640626 core:LandBuildings 2023-05-01 2024-04-30 10640626 core:LeaseholdImprovements 2023-05-01 2024-04-30 10640626 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 10640626 1 2023-05-01 2024-04-30 10640626 countries:AllCountries 2023-05-01 2024-04-30 10640626 2023-04-30 10640626 core:FurnitureFittingsToolsEquipment 2023-04-30 10640626 core:LandBuildings 2023-04-30 10640626 core:OtherPropertyPlantEquipment 2023-04-30 10640626 2022-05-01 2023-04-30 10640626 2023-04-30 10640626 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-30 10640626 core:CurrentFinancialInstruments 2023-04-30 10640626 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10640626 core:Non-currentFinancialInstruments 2023-04-30 10640626 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 10640626 core:FurnitureFittingsToolsEquipment 2023-04-30 10640626 core:LandBuildings 2023-04-30 10640626 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10640626

Urban Village Bars (NQ) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Urban Village Bars (NQ) Limited

(Registration number: 10640626)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

145,449

123,337

Current assets

 

Stocks

5

23,433

40,000

Debtors

6

1,130,844

983,164

Cash at bank and in hand

 

543,336

207,321

 

1,697,613

1,230,485

Creditors: Amounts falling due within one year

7

(630,858)

(554,718)

Net current assets

 

1,066,755

675,767

Total assets less current liabilities

 

1,212,204

799,104

Creditors: Amounts falling due after more than one year

7

(174,603)

-

Provisions for liabilities

(17,539)

(19,348)

Net assets

 

1,020,062

779,756

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,019,962

779,656

Shareholders' funds

 

1,020,062

779,756

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

 

Urban Village Bars (NQ) Limited

(Registration number: 10640626)
Balance Sheet as at 30 April 2024

.........................................
Mr Martin Patrick Dillon
Director

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Old Workshop
12B Kennerleys Lane
Wilmslow
Cheshire
SK9 5EQ
England

The principal place of business is:
56 Tib Street
Manchester
M4 1LW

These financial statements were authorised for issue by the Board on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements and Integral features

10% straight line

Fixtures, fittings and equipment

15% reducing balance 20% straight line

Computer equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 21).

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Lease
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

-

175,878

105,672

281,550

Additions

43,595

5,658

-

49,253

At 30 April 2024

43,595

181,536

105,672

330,803

Depreciation

At 1 May 2023

-

94,815

63,398

158,213

Charge for the year

-

16,575

10,566

27,141

At 30 April 2024

-

111,390

73,964

185,354

Carrying amount

At 30 April 2024

43,595

70,146

31,708

145,449

At 30 April 2023

-

81,063

42,274

123,337

5

Stocks

2024
£

2023
£

Other inventories

23,433

40,000

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

1,024,592

977,036

Prepayments

 

11,252

3,056

Other debtors

 

95,000

3,072

   

1,130,844

983,164

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

72,690

22,516

Trade creditors

 

68,113

278,923

Amounts owed to group undertakings and undertakings in which the company has a participating interest

130,385

-

Taxation and social security

 

257,418

234,221

Accruals and deferred income

 

79,739

4,290

Other creditors

 

22,513

14,768

 

630,858

554,718

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

174,603

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Parent and ultimate parent undertaking

The company's immediate parent is TFMI Ltd, incorporated in England and Wales.

 

 

Urban Village Bars (NQ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

174,603

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

72,690

22,516