Norman Bar Limited - Accounts to registrar (filleted) - small 18.2
Norman Bar Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2022 |
| for |
| Norman Bar Limited |
| Norman Bar Limited (Registered number: 03888144) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Norman Bar Limited |
| Company Information |
| for the Year Ended 31 March 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 14 Beech Hill |
| Otley |
| West Yorkshire |
| LS21 3AX |
| Norman Bar Limited (Registered number: 03888144) |
| Balance Sheet |
| 31 March 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Norman Bar Limited (Registered number: 03888144) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Norman Bar Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis. |
| The director is aware that the company has net liabilities. However, the company continues to trade profitably. |
| The company's major creditor is the holding company, Core Telecom Limited, who have undertaken not to demand repayment of the amount owing, and to provide further funds to enable the company to pay its debts as they fall due. |
| In these circumstances, the director believes it is appropriate to prepare the accounts on the going concern basis. |
| Turnover |
| 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 |
| Land and buildings | - |
| Depreciation is not provided on freehold land and buildings. |
| In the opinion of the directors, the residual value of such assets is at least equal to their cost or valuation, such that no depreciation needs to be provided. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Norman Bar Limited (Registered number: 03888144) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| The freehold property was revalued by the directors on 30 November 2013, on an open market value basis. A professional valuation in January 2020 valued the property at £1,015,000, but the directors do not consider this is materially different from the carrying value to justify a revaluation in the accounts. |
| The original cost of the property was £1,526,621. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Other creditors |
| There are no terms for the repayment of this debt, but the directors of the holding company have indicated they will not ask for repayment of the loan within the next 12 months. |
| Norman Bar Limited (Registered number: 03888144) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 8. | SECURED DEBTS |
| The company is partly financed by funds from Core Telecom Limited, the holding company, which in turn were borrowed from Barclays Bank plc. The Barclays Bank loan to Core Telecom Limited is, inter alia, secured by a charge over 36 Call Lane Leeds LS1 6DT on the banks standard Form dated 14 April 2014 and a cross guarantee and debenture between 08Direct Limited, and Core Telecom Limited dated 27 March 2014. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The balance was repaid within nine months of the year end. |
| 11. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Included within other creditors is an amount of £111,000 (2021: £111,000) owed to 08 Direct Limited, a company owned by M Mazhar and P Turner, the directors of the holding company. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |