Northern Guitars Cafe Bar Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Northern Guitars Cafe Bar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09966507 . The registered office is Unit 2 Thornton Grove Works, Thornton Grove, Leeds, LS12 3JB.

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. Going Concern Disclosure

The financial statements have been prepared on the going concern basis. At 30 January 2026 the company had net liabilities of £53,509 (2025: £45,818). The directors have confirmed their intention to continue to provide financial support to the company for the foreseeable future and has confirmed they will not seek repayment of amounts owed to them until the company is in a position to repay without detriment to its operations.

2.3. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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	15% 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.

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Northern Guitars Cafe Bar Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Northern Guitars Cafe Bar Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2025: 15)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 31 January 2025	23,609	5,432	21,269	2,316	52,626

As at 30 January 2026	23,609	5,432	21,269	2,316	52,626

Depreciation
As at 31 January 2025	18,888	1,741	15,536	2,316	38,481
Provided during the period	2,361	555	872	-	3,788

As at 30 January 2026	21,249	2,296	16,408	2,316	42,269

Net Book Value
As at 30 January 2026	2,360	3,136	4,861	-	10,357

As at 31 January 2025	4,721	3,691	5,733	-	14,145

5. Stocks

	2026	2025
	£	£
Stock	27,600	37,862

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	750
Other debtors	6,938	7,938

	6,938	8,688

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	19,744	22,518
Bank loans and overdrafts	7,466	10,428
Other creditors	64,884	61,777
Taxation and social security	10,790	6,970

	102,884	101,693

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Northern Guitars Cafe Bar Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	7,216

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	10,350	17,750
Later than one year and not later than five years	-	10,350

	10,350	28,100

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,357		14,145

			10,357		14,145
CURRENT ASSETS
Stocks	5	27,600		37,862
Debtors	6	6,938		8,688
Cash at bank and in hand		4,480		2,396

		39,018		48,946
Creditors: Amounts Falling Due Within One Year	7	(102,884 )		(101,693 )

NET CURRENT ASSETS (LIABILITIES)			(63,866 )		(52,747 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(53,509 )		(38,602 )

Creditors: Amounts Falling Due After More Than One Year	8		-		(7,216 )

NET LIABILITIES			(53,509 )		(45,818 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(53,609 )		(45,918 )

SHAREHOLDERS' FUNDS			(53,509)		(45,818)

Mr R I Wade Director	Mr D H Baguley Director
08/07/2026