BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period The Principal Activity is that of a Bar and Restaurant. 25 April 2025 NI662907 2024-07-31 NI662907 2023-07-31 NI662907 2022-07-31 NI662907 2023-08-01 2024-07-31 NI662907 2022-08-01 2023-07-31 NI662907 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI662907 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI662907 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI662907 uk-bus:FullAccounts 2023-08-01 2024-07-31 NI662907 uk-bus:Director1 2023-08-01 2024-07-31 NI662907 uk-bus:RegisteredOffice 2023-08-01 2024-07-31 NI662907 uk-bus:Agent1 2023-08-01 2024-07-31 NI662907 uk-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 NI662907 uk-core:ShareCapital 2024-07-31 NI662907 uk-core:ShareCapital 2023-07-31 NI662907 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI662907 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI662907 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI662907 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI662907 uk-bus:FRS102 2023-08-01 2024-07-31 NI662907 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI662907 uk-core:MotorVehicles 2023-08-01 2024-07-31 NI662907 uk-core:CurrentFinancialInstruments 2024-07-31 NI662907 uk-core:CurrentFinancialInstruments 2023-07-31 NI662907 uk-core:WithinOneYear 2024-07-31 NI662907 uk-core:WithinOneYear 2023-07-31 NI662907 uk-core:WithinOneYear 2024-07-31 NI662907 uk-core:WithinOneYear 2023-07-31 NI662907 uk-core:AfterOneYear 2024-07-31 NI662907 uk-core:AfterOneYear 2023-07-31 NI662907 uk-core:WithinOneYear 2024-07-31 NI662907 uk-core:WithinOneYear 2023-07-31 NI662907 uk-core:BetweenOneTwoYears 2024-07-31 NI662907 uk-core:BetweenOneTwoYears 2023-07-31 NI662907 uk-core:BetweenTwoFiveYears 2024-07-31 NI662907 uk-core:BetweenTwoFiveYears 2023-07-31 NI662907 uk-core:BetweenOneFiveYears 2024-07-31 NI662907 uk-core:BetweenOneFiveYears 2023-07-31 NI662907 uk-core:EmployeeBenefits 2023-07-31 NI662907 uk-core:EmployeeBenefits 2023-08-01 2024-07-31 NI662907 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI662907 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-07-31 NI662907 uk-core:OtherDeferredTax 2024-07-31 NI662907 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-07-31 NI662907 uk-core:EmployeeBenefits 2024-07-31 NI662907 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI662907
 
 
Ben Madigan's Bar and Kitchen Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2024
Ben Madigan's Bar and Kitchen Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Kelvin Collins
 
 
Company Registration Number NI662907
 
 
Registered Office 29 Slievecole Park
Belfast
BT14 8JN
 
 
Business Address 169-175 Cavehill Road
Belfast
BT15 5BP
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
 
Bankers Ulster Bank
  11-16 Donegall Square East
  Belfast
  Antrim
  BT1 5HD
   
   
  Bank of Ireland
  202 Andersonstown Road
  Belfast
  BT11 9EB



Ben Madigan's Bar and Kitchen Ltd

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Ben Madigan's Bar and Kitchen Ltd
for the financial year ended 31 July 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 July 2024 as set out on pages  to 13 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Ben Madigan's Bar and Kitchen Ltd, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 July 2024 your duty to ensure that Ben Madigan's Bar and Kitchen Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ben Madigan's Bar and Kitchen Ltd. You consider that Ben Madigan's Bar and Kitchen Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Ben Madigan's Bar and Kitchen Ltd. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
25 April 2025



Ben Madigan's Bar and Kitchen Ltd
Company Registration Number: NI662907
STATEMENT OF FINANCIAL POSITION
as at 31 July 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 247,103 214,785
───────── ─────────
 
Current Assets
Inventories 5 28,449 15,758
Receivables 6 61,459 8,764
Cash and cash equivalents 354,713 488,198
───────── ─────────
444,621 512,720
───────── ─────────
Payables: amounts falling due within one year 7 (261,879) (270,526)
───────── ─────────
Net Current Assets 182,742 242,194
───────── ─────────
Total Assets less Current Liabilities 429,845 456,979
 
Payables:
amounts falling due after more than one year 8 (60,111) (68,946)
 
Provisions for liabilities 10 (48,527) (40,810)
───────── ─────────
Net Assets 321,207 347,223
═════════ ═════════
 
Equity
Called up share capital 100 100
Retained earnings 321,107 347,123
───────── ─────────
Equity attributable to owners of the company 321,207 347,223
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 25 April 2025
           
           
________________________________          
Kelvin Collins          
Director          
           



Ben Madigan's Bar and Kitchen Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
Ben Madigan's Bar and Kitchen Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI662907. The registered office of the company is 29 Slievecole Park, Belfast, BT14 8JN. The Principal Activity is that of a Bar and Restaurant. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing Balance
  Motor vehicles - 10% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Inventories
Inventories are valued at the lower of cost and net realisable value. Inventories are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 32, (2023 - 30).
 
  2024 2023
  Number Number
 
Director 1 1
Employees 31 29
  ───────── ─────────
  32 30
  ═════════ ═════════
         
4. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 August 2023 368,981 83,220 452,201
Additions 58,366 25,000 83,366
  ───────── ───────── ─────────
At 31 July 2024 427,347 108,220 535,567
  ───────── ───────── ─────────
Depreciation
At 1 August 2023 227,360 10,056 237,416
Charge for the financial year 36,476 14,572 51,048
  ───────── ───────── ─────────
At 31 July 2024 263,836 24,628 288,464
  ───────── ───────── ─────────
Carrying amount
At 31 July 2024 163,511 83,592 247,103
  ═════════ ═════════ ═════════
At 31 July 2023 141,621 73,164 214,785
  ═════════ ═════════ ═════════
       
5. Inventories 2024 2023
  £ £
 
Stock 28,449 15,758
  ═════════ ═════════
       
6. Receivables 2024 2023
  £ £
 
Amounts owed by connected parties (Note 12) 52,224 -
Prepayments and accrued income 9,235 8,764
  ───────── ─────────
  61,459 8,764
  ═════════ ═════════
       
7. Payables 2024 2023
Amounts falling due within one year £ £
 
Bounceback Loan 9,930 9,930
Net obligations under finance leases
and hire purchase contracts 14,740 9,159
Trade payables 38,142 37,205
Taxation  (Note 9) 60,600 94,664
Director's current account 338 10,416
Other creditors 135,129 107,152
Accruals 3,000 2,000
  ───────── ─────────
  261,879 270,526
  ═════════ ═════════
       
8. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Bounceback Loan 8,385 19,928
Finance leases and hire purchase contracts 51,726 49,018
  ───────── ─────────
  60,111 68,946
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 9,930 9,930
Repayable between one and two years 8,385 10,275
Repayable between two and five years - 9,653
  ───────── ─────────
  18,315 29,858
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 14,740 9,159
Repayable between one and five years 51,726 49,018
  ───────── ─────────
  66,466 58,177
  ═════════ ═════════
       
9. Taxation 2024 2023
  £ £
 
Payables:
VAT 35,823 27,308
Corporation tax 18,653 64,079
PAYE / NI 6,124 3,277
  ───────── ─────────
  60,600 94,664
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 40,810 40,810 49,555
Charged to profit and loss 7,717 7,717 (8,745)
  ───────── ───────── ─────────
At financial year end 48,527 48,527 40,810
  ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 July 2024.
           
12. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Gricol Pubs Limited 52,224 52,224 - 140,025
  ───────── ───────── ───────── ═════════
 
Gricol Pubs Limited
Kelvin Collins is director of Ben Madigan's Bar and Kitchen Ltd, and also director of Gricol Pubs Limited. The balance owing to/from Gricol Pubs Limited as at 1 August 2023 was £nil. During the year there were net transactions of £52,224. As at 31st July 2024, Gricol Pubs Limited owed Ben Madigan's Bar and Kitchen Ltd £52,224.
 
In the opinion of the director these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.