SOUTH WEST BARS LIMITED - Filleted accounts

Registered number

06662621

SOUTH WEST BARS LIMITED

Unaudited Filleted Accounts

31 December 2024

SOUTH WEST BARS LIMITED
Registered number:		06662621
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		16,883			33,550
Tangible assets	4		86,423			114,463
			103,306			148,013

Current assets
Stocks		8,000			25,000
Debtors	5	313,884			291,171
Cash at bank and in hand		46,065			18,090
		367,949			334,261

Creditors: amounts falling due within one year	6	(176,040)			(184,473)

Net current assets			191,909			149,788

Total assets less current liabilities			295,215			297,801

Creditors: amounts falling due after more than one year	7		(15,138)			(24,984)



Net assets			280,077			272,817

Capital and reserves
Called up share capital			200,100			200,100
Profit and loss account			79,977			72,717

Shareholders' funds			280,077			272,817

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.



F Iqbal
Director
Approved by the board on 24 September 2025

SOUTH WEST BARS LIMITED
Notes to the Accounts
for the year ended 31 December 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:

	Leasehold land and buildings	10% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	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			16		16


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 January 2024					250,000
	At 31 December 2024					250,000

	Amortisation
	At 1 January 2024					216,450
	Provided during the year					16,667
	At 31 December 2024					233,117

	Net book value
	At 31 December 2024					16,883
	At 31 December 2023					33,550

	Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	42,281		370,996		413,277
	At 31 December 2024	42,281		370,996		413,277

	Depreciation
	At 1 January 2024	38,436		260,378		298,814
	Charge for the year	385		27,655		28,040
	At 31 December 2024	38,821		288,033		326,854

	Net book value
	At 31 December 2024	3,460		82,963		86,423
	At 31 December 2023	3,845		110,618		114,463


5	Debtors			2024		2023
£					£

	Trade debtors			34,036		55,270
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			230,759		200,759
	Other debtors			49,089		35,142
				313,884		291,171


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			38,785		55,923
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			6,863		9,061
	Taxation and social security costs			127,080		119,238
	Other creditors			3,312		251
				176,040		184,473


7	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			15,138		24,984


8	Related party transactions

	At the year end the company owed £17,863 to related parties (2023: £0). The company was owed £247,982 from related parties (2023: £6,275)


9	Controlling party

	The Company is controlled by Mr F Iqbal by virtue of his majority share in the company.


10	Other information

	SOUTH WEST BARS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	1st Floor
	Quadrant House
	9 Heath Road
	Weybridge
	KT13 8SX