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Registration number: 10470957

Notts Bar Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Notts Bar Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Notts Bar Ltd

Company Information

Director

Mr S D J Davies

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Notts Bar Ltd

(Registration number: 10470957)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

72,789

74,588

Investment property

6

191,205

191,205

 

263,994

265,793

Current assets

 

Stocks

7

5,350

5,095

Cash at bank and in hand

 

31

113

 

5,381

5,208

Creditors: Amounts falling due within one year

8

(240,962)

(245,182)

Net current liabilities

 

(235,581)

(239,974)

Total assets less current liabilities

 

28,413

25,819

Creditors: Amounts falling due after more than one year

8

(107,975)

(107,975)

Net liabilities

 

(79,562)

(82,156)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(79,563)

(82,157)

Total equity

 

(79,562)

(82,156)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Notts Bar Ltd

(Registration number: 10470957)
Balance Sheet as at 30 November 2024

Approved and authorised by the director on 29 August 2025
 

.........................................
Mr S D J Davies
Director

   
     
 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 29 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors will support the company for the foreseeable future and pay any debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance basis

Fixture and fittings

25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,798

2,089

 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Leasehold property improvements
 £

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

65,739

3,546

26,917

96,202

At 30 November 2024

65,739

3,546

26,917

96,202

Depreciation

At 1 December 2023

-

2,971

18,643

21,614

Charge for the year

-

144

1,655

1,799

At 30 November 2024

-

3,115

20,298

23,413

Carrying amount

At 30 November 2024

65,739

431

6,619

72,789

At 30 November 2023

65,739

575

8,274

74,588

Included within the net book value of land and buildings above is £Nil (2023 - £) in respect of freehold land and buildings.
 

 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

6

Investment properties

2024
£

At 1 December

191,205

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

5,350

5,095

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

2,527

17,650

Directors' loan accounts

11

236,955

226,122

Other creditors

 

1,480

1,410

 

240,962

245,182

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

107,975

107,975

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         
 

Notts Bar Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

107,975

107,975

11

Related party transactions

Other transactions with directors

As at the balance sheet date, the director was owed £236,956 (2023 : £226,122) from the company. The loan is interest free and repayable on demand.