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Registered number: 07733376
The Bac Bar Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07733376
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 126,348 152,296
Investments 6 408,024 394,130
534,372 546,426
CURRENT ASSETS
Stocks 7 - 3,000
Debtors 8 253 9,843
Cash at bank and in hand 1,011 9,850
1,264 22,693
Creditors: Amounts Falling Due Within One Year 9 (110,585 ) (125,625 )
NET CURRENT ASSETS (LIABILITIES) (109,321 ) (102,932 )
TOTAL ASSETS LESS CURRENT LIABILITIES 425,051 443,494
Creditors: Amounts Falling Due After More Than One Year 10 (337,523 ) (334,091 )
NET ASSETS 87,528 109,403
CAPITAL AND RESERVES
Called up share capital 11 1,015 1,015
Profit and Loss Account 86,513 108,388
SHAREHOLDERS' FUNDS 87,528 109,403
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Carter
Director
11 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Bac Bar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07733376 . The registered office is 6 Houndiscombe Road, Plymouth, Devon, PL4 6HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Investments
Investments in associates are accounted for using the cost method, with the associates valued at cost plus any improvements. All distributions received from associates are recognised as income through the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 9)
11 9
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 100,000
As at 31 August 2024 100,000
Amortisation
As at 1 September 2023 100,000
As at 31 August 2024 100,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2023 138,747 118,304 19,459 134,748
Additions - - - 1,079
As at 31 August 2024 138,747 118,304 19,459 135,827
Depreciation
As at 1 September 2023 98,579 76,188 14,159 70,471
Provided during the period 7,491 8,565 1,060 9,641
As at 31 August 2024 106,070 84,753 15,219 80,112
Net Book Value
As at 31 August 2024 32,677 33,551 4,240 55,715
As at 1 September 2023 40,168 42,116 5,300 64,277
Computer Equipment Total
£ £
Cost
As at 1 September 2023 10,109 421,367
Additions 191 1,270
As at 31 August 2024 10,300 422,637
Depreciation
As at 1 September 2023 9,674 269,071
Provided during the period 461 27,218
As at 31 August 2024 10,135 296,289
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 August 2024 165 126,348
As at 1 September 2023 435 152,296
6. Investments
Associates
£
Cost
As at 1 September 2023 394,130
Additions 13,894
As at 31 August 2024 408,024
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 408,024
As at 1 September 2023 394,130
7. Stocks
2024 2023
£ £
Stock - 3,000
8. Debtors
2024 2023
£ £
Due within one year
Other debtors 253 9,843
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 37 4,652
Bank loans and overdrafts 65 5,989
Other creditors 108,094 106,941
Taxation and social security 2,389 8,043
110,585 125,625
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 37,523 34,091
Other creditors 300,000 300,000
337,523 334,091
Page 5
Page 6
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,015 1,015
Page 6