Barbican Kitchen Limited 30/06/2021 iXBRL
Barbican Kitchen Limited 30/06/2021 iXBRL
Company registration number:
06925358
BARBICAN KITCHEN LIMITED
STATEMENT OF FINANCIAL POSITION
30 JUNE 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities | 9 |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 11 |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
17 January 2022
, and are signed on behalf of the board by:
Director
Company registration number:
06925358
BARBICAN KITCHEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 60 Southside Street, The Barbican, Plymouth, Devon, PL1 2LQ.
Principal activity
The principal activity of the company in the year under review was that of restauranteurs.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to property | - |
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Short leasehold property | - |
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Fittings fixtures and equipment | - |
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Computer equipment | - |
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straight line | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Government grants
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
24
(2020:
23
).
5.
Tangible assets
Long leasehold property | Short leasehold property | Fixtures, fittings and equipment | Computer equipment | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 July 2020 and 30 June 2021 |
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_______ | _______ | _______ | _______ | _______ | ||
Depreciation | ||||||
At 1 July 2020 |
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Charge for the year |
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- |
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_______ | _______ | _______ | _______ | _______ | ||
At 30 June 2021 |
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_______ | _______ | _______ | _______ | _______ | ||
Carrying amount | ||||||
At 30 June 2021 |
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- |
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_______ | _______ | _______ | _______ | _______ | ||
At 30 June 2020 |
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- |
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_______ | _______ | _______ | _______ | _______ | ||
6.
Debtors
2021 | 2020 | |||
£ | £ | |||
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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_______ | _______ | |||
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7.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Social security and other taxes | 58,729 | 54,440 | ||
Other creditors | 76,087 | 75,504 | ||
_______ | _______ | |||
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8.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||
9.
Provisions
Deferred tax (note 10) | Total | ||
£ | £ | ||
At 1 July 2020 |
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Additions |
(
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_______ | _______ | ||
At 30 June 2021 |
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10.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2021 | 2020 | |||
£ | £ | |||
Included in provisions (note 9) |
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_______ | _______ | |||
The deferred tax account consists of the tax effect of timing differences in respect of:
2021 | 2020 | |||
£ | £ | |||
Accelerated capital allowances |
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_______ | _______ | |||
11.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
12.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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_______ | _______ | |
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_______ | _______ | |
13.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2021 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
Directors |
(
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(
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- |
(
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_______ | _______ | _______ | _______ | ||
2020 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
Directors |
(
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(
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(
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_______ | _______ | _______ | _______ | ||
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.
14.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2021 | 2020 | 2021 | 2020 | ||
£ | £ | £ | £ | ||
Tanners LLP | 5,771 | 26,767 |
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Tanners Holdings Limited | 1,219 | 5,724 | 83,232 | 82,013 | |
_______ | _______ | _______ | _______ | ||
Tanners LLP is an LLP in which both company directors of the reporting entity are members.Tanners Holdings Ltd is the parent company of the reporting entity.
15.
Controlling party
The ultimate holding company of this company is Tanners Holdings Limited, which is registered in England.