Registered number
08737706
THE PROMANADE CAFE BAR LIMITED
Unaudited Filleted Accounts
31 October 2024
THE PROMANADE CAFE BAR LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of THE PROMANADE CAFE BAR LIMITED for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of THE PROMANADE CAFE BAR LIMITED for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Yaqub & Co Ltd
Chartered Accountants
443 Stapleton Road
Eastville
Bristol
BS5 6NB
10 April 2025
THE PROMANADE CAFE BAR LIMITED
Registered number: 08737706
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 583,231 571,224
Current assets
Stocks 4,250 4,250
Debtors 4 20,944 10,499
Cash at bank and in hand 2,898 37,887
28,092 52,636
Creditors: amounts falling due within one year 5 (201,571) (153,684)
Net current liabilities (173,479) (101,048)
Total assets less current liabilities 409,752 470,176
Creditors: amounts falling due after more than one year 6 (299,887) (312,386)
Provisions for liabilities (20,704) (16,583)
Net assets 89,161 141,207
Capital and reserves
Called up share capital 1 1
Profit and loss account 89,160 141,206
Shareholder's funds 89,161 141,207
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 his 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 Aly Hussein
Director
Approved by the board on 10 April 2025
THE PROMANADE CAFE BAR LIMITED
Notes to the Accounts
for the year ended 31 October 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.
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:
Freehold buildings over 50 years
Plant and machinery 20% Written Down Value
Fixtures, fittings, tools and equipment 20% Written Down Value
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 31
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 534,942 192,910 6,441 734,293
Additions - 48,928 - 48,928
At 31 October 2024 534,942 241,838 6,441 783,221
Depreciation
At 1 November 2023 51,000 109,718 2,351 163,069
Charge for the year 9,679 26,424 818 36,921
At 31 October 2024 60,679 136,142 3,169 199,990
Net book value
At 31 October 2024 474,263 105,696 3,272 583,231
At 31 October 2023 483,942 83,192 4,090 571,224
4 Debtors 2024 2023
£ £
Other debtors 20,944 10,499
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 60,518 64,523
Trade creditors 42,422 30,005
Taxation and social security costs 92,367 57,383
Other creditors 6,264 1,773
201,571 153,684
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 299,887 312,386
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 293,020 296,898
£293,020 of Bank Loans are secured by charge over Freehold Premises of the Business 18 -20 Gloucester Road Bristol BS7 8AE
8 Related party transactions
Mr Aly Hussein Is the Sole Director and Shareholder of the Company, During the year he received Dividends of £10,000 (2023 £40,000)
9 Controlling party
Mr Aly Hussein is the controlling party by virtue of him being the Sole Director and 100% Shareholder
10 Other information
THE PROMANADE CAFE BAR LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
18 - 20 Gloucester road
Bishopston
Bristol
BS7 8AE
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