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Company registration number: 07142317
All Our Bars Limited
Unaudited filleted financial statements
31 July 2024
All Our Bars Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
All Our Bars Limited
Directors and other information
Directors Mr RPM Wigham
Mr SL Brook
Secretary P J Tobin
Company number 07142317
Registered office Enterprise House
Enterprise Way
Edenbridge
Kent
TN8 6HF
All Our Bars Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 455,239 326,116
Investments 6 270,651 270,651
_______ _______
725,890 596,767
Current assets
Stocks 84,739 78,850
Debtors 7 118,293 122,056
Cash at bank and in hand 27,469 23,377
_______ _______
230,501 224,283
Creditors: amounts falling due
within one year 8 ( 396,199) ( 410,989)
_______ _______
Net current liabilities ( 165,698) ( 186,706)
_______ _______
Total assets less current liabilities 560,192 410,061
Creditors: amounts falling due
after more than one year 9 ( 146,537) ( 56,726)
_______ _______
Net assets 413,655 353,335
_______ _______
Capital and reserves
Called up share capital 438 438
Share premium account 189,770 189,770
Profit and loss account 223,447 163,127
_______ _______
Shareholders funds 413,655 353,335
_______ _______
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mr RPM Wigham
Director
Company registration number: 07142317
All Our Bars Limited
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 August 2022 438 189,770 168,328 358,536
Profit/(loss) for the year ( 5,201) ( 5,201)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 5,201) ( 5,201)
_______ _______ _______ _______
At 31 July 2023 and 1 August 2023 438 189,770 163,127 353,335
Profit/(loss) for the year 60,320 60,320
_______ _______ _______ _______
Total comprehensive income for the year - - 60,320 60,320
_______ _______ _______ _______
At 31 July 2024 438 189,770 223,447 413,655
_______ _______ _______ _______
All Our Bars Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is All Our Bars Limited, Enterprise House, Enterprise Way, Edenbridge, Kent, TN8 6HF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 40 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 416,484 485,053 26,250 927,787
Additions 59,660 55,886 - 115,546
Disposals ( 8,306) ( 31,293) - ( 39,599)
Transfers 81,021 16,848 - 97,869
_______ _______ _______ _______
At 31 July 2024 548,859 526,494 26,250 1,101,603
_______ _______ _______ _______
Depreciation
At 1 August 2023 283,706 312,715 5,250 601,671
Charge for the year 32,727 40,876 4,200 77,803
Disposals ( 6,947) ( 26,163) - ( 33,110)
_______ _______ _______ _______
At 31 July 2024 309,486 327,428 9,450 646,364
_______ _______ _______ _______
Carrying amount
At 31 July 2024 239,373 199,066 16,800 455,239
_______ _______ _______ _______
At 31 July 2023 132,778 172,338 21,000 326,116
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests
£
Cost
At 1 August 2023 and 31 July 2024 270,651
_______
Impairment
At 1 August 2023 and 31 July 2024 -
_______
Carrying amount
At 31 July 2024 270,651
_______
At 31 July 2023 270,651
_______
7. Debtors
2024 2023
£ £
Trade debtors 709 1,407
Other debtors 117,584 120,649
_______ _______
118,293 122,056
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 48,467 48,888
Trade creditors 194,372 219,725
Corporation tax 4,000 7,000
Social security and other taxes 104,569 98,017
Other creditors 44,791 37,359
_______ _______
396,199 410,989
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts - 56,726
Amounts owed to group undertakings and undertakings in which the company has a participating interest 146,537 -
_______ _______
146,537 56,726
_______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Red Sun Bars Ltd 146,537 - ( 146,537) -
Goldfinger Bars Ltd 156,500 145,900 40,388 53,721
_______ _______ _______ _______
Goldfinger Bars LtdThe directors of All Our Bars Ltd by virtue of their combined share holdings are the controlling parties of the Company. The same directors are also the controlling parties of Goldfinger Bars Ltd. Two of the public houses operated by All Our Bars Ltd are owned by Goldfinger Bars Ltd and leased to All Our Bars Ltd. The transactions between the companies represents rent paid to Goldfinger Bars Ltd and recharges of administration & other charges from All Our Bars Ltd to Goldfinger Bars Ltd.Red Sun Bars LtdRed Sun Bars Ltd is a wholly owned subsidiary of All Our Bars Ltd. At the start of the year all of the assets and trade of Red Sun Bars Ltd were hived up into All Our Bars Ltd. The long term creditor balance represents the net value of this transaction which is owing to Red Sun Bars Ltd.