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REGISTERED NUMBER: 11141029 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2025

for

BIBS BAR LIMITED

BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BIBS BAR LIMITED

Company Information
for the Year Ended 28 February 2025







DIRECTORS: A O Smith
Mrs H Watkin





REGISTERED OFFICE: 1 Grange Road
Eastbourne
BN21 4EU





REGISTERED NUMBER: 11141029 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 64,999 86,666
Tangible assets 5 64,115 75,430
129,114 162,096

CURRENT ASSETS
Stocks 6,250 6,650
Debtors 6 4,338 2,075
Cash at bank 2,044 40,175
12,632 48,900
CREDITORS
Amounts falling due within one year 7 111,874 98,560
NET CURRENT LIABILITIES (99,242 ) (49,660 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,872

112,436

CREDITORS
Amounts falling due after more than one
year

8

-

(57,481

)

PROVISIONS FOR LIABILITIES (12,182 ) (14,332 )
NET ASSETS 17,690 40,623

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 - 12,888
Retained earnings 10 17,590 27,635
SHAREHOLDERS' FUNDS 17,690 40,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)

Balance Sheet - continued
28 February 2025


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 Income Statement has not been delivered.

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





A O Smith - Director


BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Bibs Bar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 15% on reducing balance

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 and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 32 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2024
and 28 February 2025 150,000
AMORTISATION
At 1 March 2024 63,334
Charge for year 21,667
At 28 February 2025 85,001
NET BOOK VALUE
At 28 February 2025 64,999
At 29 February 2024 86,666

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024
and 28 February 2025 200,000
DEPRECIATION
At 1 March 2024 124,570
Charge for year 11,315
At 28 February 2025 135,885
NET BOOK VALUE
At 28 February 2025 64,115
At 29 February 2024 75,430

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Other debtors 4,338 2,075

BIBS BAR LIMITED (REGISTERED NUMBER: 11141029)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 4,739 -
Trade creditors 79,665 69,091
Taxation and social security 14,247 8,222
Other creditors 13,223 21,247
111,874 98,560

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Other creditors - 57,481

9. FINANCIAL INSTRUMENTS

During the year, the company made repayments on a loan in connection with the acquisition of the business. The loan is interest free and is included in these financial statements on an amortised cost basis using effective interest rates between 6.75% and 6.25% varying with changes in the base rate. The loan was fully repaid during the year.

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2024 27,635 12,888 40,523
Deficit for the year (13,982 ) (13,982 )
Transfer of loan interest calculated
on amortised cost basis

3,937

(3,937

)

-

Loan capital contribution calculated
on amortised cost basis

-

(8,951

)

(8,951

)

At 28 February 2025 17,590 - 17,590