Triangle West Bars Limited - Filleted accounts

Registered number

07285894

Triangle West Bars Limited

Filleted Accounts

31 December 2024

Adams Root Ltd t/a Adams Root & Associates

Chartered Certified Accountants

Bristol

Triangle West Bars Limited
Registered number:		07285894
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	4		120,003			114,742

Current assets
Stocks		8,952			9,373
Debtors	5	117,753			71,750
Cash at bank and in hand		65,537			63,514
		192,242			144,637

Creditors: amounts falling due within one year	6	(237,923)			(193,458)

Net current liabilities			(45,681)			(48,821)

Total assets less current liabilities			74,322			65,921

Creditors: amounts falling due after more than one year	7		(9,085)			(43,540)

Net assets			65,237			22,381

Capital and reserves
Called up share capital			104			104
Profit and loss account			65,133			22,277

Shareholders' funds			65,237			22,381

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.




Mr J A Smailes
Director
Approved by the board on 31 July 2025

Triangle 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			15% on a reducing balance basis
	Plant and machinery			15% on a reducing balance basis
	Fixtures, fittings, tools and equipment			15% on a reducing balance basis

	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.

	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					12		20


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 January 2024							3,549
	At 31 December 2024							3,549

	Amortisation
	At 1 January 2024							3,549
	At 31 December 2024							3,549

	Net book value
	At 31 December 2024							-

	Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Land and buildings		Plant and machinery		Total
£					£		£
	Cost
	At 1 January 2024			65,627		288,257		353,884
	Additions			-		26,439		26,439
	At 31 December 2024			65,627		314,696		380,323

	Depreciation
	At 1 January 2024			49,324		189,818		239,142
	Charge for the year			2,446		18,732		21,178
	At 31 December 2024			51,770		208,550		260,320

	Net book value
	At 31 December 2024			13,857		106,146		120,003
	At 31 December 2023			16,303		98,439		114,742


5	Debtors					2024		2023
£							£

	Other debtors					117,753		71,750


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

	Bank loans and overdrafts					46,977		46,412
	Obligations under finance lease and hire purchase contracts					2,329		-
	Trade creditors					36,722		50,441
	Taxation and social security costs					102,735		85,914
	Other creditors					49,160		10,691
						237,923		193,458


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

	Bank loans					7,338		43,540
	Obligations under finance lease and hire purchase contracts					1,747		-
						9,085		43,540


8	Loans to directors
	Description and conditions	B/fwd	Paid in		Repaid		C/fwd
£			£		£		£
	Mr J A Smailes
	This loan is interest free and there is no fixed date for repayment.	(45,963)		509		-		(45,454)

	Mr J Koch
	This loan is interest free and there is no fixed date for repayment.	(64,165)				-		(64,165)

		(110,128)		509		-		(109,619)


9	Related party transactions

	Hermanos Limited
	Mr J A Smailes is a director and shareholder of both companies. Triangle West Limited paid an open market rent to Hermanos Limited of £52,060 (2023 : £52,057).


10	Controlling party

	The company is under the control of Mr J A Smailes and Mr J A Koch, the directors of the company, by virtue of their majority shareholding of the voting shares in the company.


11	Other information

	Triangle West Bars Limited is a private company limited by shares and incorporated in England. Its registered office is:
	14 Fiddes Road
	Redland
	Bristol
	BS6 7TN