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REGISTERED NUMBER: 02611302 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GARLIC AND SHOTS LIMITED

GARLIC AND SHOTS LIMITED (REGISTERED NUMBER: 02611302)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


GARLIC AND SHOTS LIMITED (REGISTERED NUMBER: 02611302)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,686 6,468

CURRENT ASSETS
Stocks 550 673
Debtors 5 47,407 40,239
Cash at bank and in hand 359,621 344,718
407,578 385,630
CREDITORS
Amounts falling due within one year 6 124,046 141,168
NET CURRENT ASSETS 283,532 244,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,218

250,930

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 290,215 250,927
SHAREHOLDERS' FUNDS 290,218 250,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





T O V Olsson - Director


GARLIC AND SHOTS LIMITED (REGISTERED NUMBER: 02611302)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Garlic and Shots Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02611302

Registered office: 14 Frith Street
London
W1D 4RD

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts received for the sale of food and drink, and is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Equipment - 25% on reducing balance
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES

The average number of employees during the year was 14 (2023 - 13 ) .

GARLIC AND SHOTS LIMITED (REGISTERED NUMBER: 02611302)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery Equipment equipment Totals
£    £    £    £   
COST
At 1 July 2023 2,369 2,773 6,926 12,068
Additions - 1,749 2,082 3,831
Disposals - (583 ) (2,351 ) (2,934 )
At 30 June 2024 2,369 3,939 6,657 12,965
DEPRECIATION
At 1 July 2023 946 1,337 3,317 5,600
Charge for year 213 684 1,962 2,859
Eliminated on disposal - (349 ) (1,831 ) (2,180 )
At 30 June 2024 1,159 1,672 3,448 6,279
NET BOOK VALUE
At 30 June 2024 1,210 2,267 3,209 6,686
At 30 June 2023 1,423 1,436 3,609 6,468

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 20,400 20,400
Prepayments and accrued income 27,007 19,839
47,407 40,239

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,778 7,530
Tax 9,948 15,191
Social security and other taxes 1,199 1,664
VAT 15,335 14,166
Other creditors 66,160 78,065
Directors' current accounts 15,598 19,724
Accruals and deferred income 5,028 4,828
124,046 141,168

Included within other creditors is £66,160 (2023: £78,065) due to three shareholders. This amount is interest free and repayable on demand.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 62,000 62,000
Between one and five years 186,000 248,000
248,000 310,000