Registered number
11571689
Bitter & Twisted Inns Ltd
Unaudited Filleted Accounts
30 September 2024
Bitter & Twisted Inns Ltd
Registered number: 11571689
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,791 26,222
Current assets
Stocks 11,104 10,386
Debtors 4 12,556 11,720
Cash at bank and in hand 43,243 50,000
66,903 72,106
Creditors: amounts falling due within one year 5 (47,602) (53,135)
Net current assets 19,301 18,971
Total assets less current liabilities 36,092 45,193
Creditors: amounts falling due after more than one year 6 (5,607) (20,808)
Provisions for liabilities (3,190) (4,982)
Net assets 27,295 19,403
Capital and reserves
Called up share capital 2 2
Profit and loss account 27,293 19,401
Shareholders' funds 27,295 19,403
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.
Mr D Jordan
Director
Approved by the board on 21 February 2025
Bitter & Twisted Inns Ltd
Notes to the Accounts
for the year ended 30 September 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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.
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 improvements 20% Straight Line
Plant and machinery 20% Straight Line
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 and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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 12 13
3 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 29,601 44,253 73,854
Additions - 1,555 1,555
At 30 September 2024 29,601 45,808 75,409
Depreciation
At 1 October 2023 12,198 35,434 47,632
Charge for the year 5,826 5,160 10,986
At 30 September 2024 18,024 40,594 58,618
Net book value
At 30 September 2024 11,577 5,214 16,791
At 30 September 2023 17,403 8,819 26,222
4 Debtors 2024 2023
£ £
Other debtors 12,556 11,720
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,847 12,472
Trade creditors 5,174 8,612
Taxation and social security costs 26,000 26,745
Other creditors 3,581 5,306
47,602 53,135
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,607 20,808
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 30,570 39,462
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest free and repayable on demand
5,078 22,427 (21,878) 5,627
5,078 22,427 (21,878) 5,627
8 Other information
Bitter & Twisted Inns Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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