Company Registration No. 9287328 (England and Wales)
Ithica Bar and Restaurant Limited
Unaudited accounts
for the year ended 31 October 2020
Ithica Bar and Restaurant Limited
Unaudited accounts
Contents
Ithica Bar and Restaurant Limited
Company Information
for the year ended 31 October 2020
Director
Nikolaos Moumouris
Company Number
9287328 (England and Wales)
Registered Office
Jasmine Cottage
Rowland
Bakewell
Derbyshire
DE45 1NR
Accountants
Andrew B Sharkey Ltd
Jasmine Cottage
Rowland
Bakewell
Derbyshire
DE45 1NR
Ithica Bar and Restaurant Limited
Statement of financial position
as at 31 October 2020
Tangible assets
14,279
17,380
Cash at bank and in hand
134,330
77,944
Creditors: amounts falling due within one year
(27,129)
(38,313)
Net current assets
197,149
110,271
Total assets less current liabilities
211,428
127,651
Creditors: amounts falling due after more than one year
(50,000)
-
Net assets
161,428
127,651
Called up share capital
100
100
Profit and loss account
161,328
127,551
Shareholders' funds
161,428
127,651
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 February 2021 and were signed on its behalf by
Nikolaos Moumouris
Director
Company Registration No. 9287328
Ithica Bar and Restaurant Limited
Notes to the Accounts
for the year ended 31 October 2020
Ithica Bar and Restaurant Limited is a private company, limited by shares, registered in England and Wales, registration number 9287328. The registered office is Jasmine Cottage, Rowland, Bakewell, Derbyshire, DE45 1NR. The principal place of business is 3 Eagle Parade, Buxton, Derbyshire, SK17 6EQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost net realisable value.
Ithica Bar and Restaurant Limited
Notes to the Accounts
for the year ended 31 October 2020
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2019
12,058
16,395
7,920
36,373
At 31 October 2020
12,358
16,395
8,089
36,842
At 1 November 2019
4,210
8,981
5,802
18,993
Charge for the year
1,630
1,483
457
3,570
At 31 October 2020
5,840
10,464
6,259
22,563
At 31 October 2020
6,518
5,931
1,830
14,279
At 31 October 2019
7,848
7,414
2,118
17,380
Finished goods
3,500
3,500
Other debtors
86,448
67,140
Amounts due after more than one year
86,448
67,140
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
-
865
Trade creditors
3,622
4,315
Taxes and social security
23,015
32,505
Loans from directors
492
628
8
Creditors: amounts falling due after more than one year
2020
2019
A Government guaranteed bounce back loan of £50,000 was taken out on 25/07/2020. Government covers the first 12 months of interest after which interest is charged at 2.5%. No repayments are required for the first 12 months. The loan period is for 6 years with no early repayment charges.
Ithica Bar and Restaurant Limited
Notes to the Accounts
for the year ended 31 October 2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Other debtors of £86,448 (2019: £67,140) comprise of start up funds provided to Bacchus Bar & Restaurant Ltd, a company in which the majority of the shares are owned by Nikolaos Moumouris (director and shareholder). The loan has no stated repayment terms, is unsecured and interest free.
11
Average number of employees
During the year the average number of employees was 16 (2019: 16).
