Bottles Bar and Restaurant Limited Filleted accounts for Companies House (small and micro)

BOTTLES BAR AND RESTAURANT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03690593

Bottles Bar and Restaurant Limited

Filleted Unaudited Financial Statements

31 March 2023

Bottles Bar and Restaurant Limited

Financial Statements

Period from 1 January 2022 to 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Bottles Bar and Restaurant Limited

Statement of Financial Position

31 March 2023

	31 Mar 23	31 Dec 21
Note	£	£

Fixed assets

Tangible assets	5	400,000	400,000

Current assets

Debtors	6	11,349	11,349
Cash at bank and in hand		10,753	4,634
		--------	--------
		22,102	15,983

Creditors: amounts falling due within one year	7	353,948	306,374
		---------	---------
Net current liabilities		331,846	290,391
		---------	---------
Total assets less current liabilities		68,154	109,609

Creditors: amounts falling due after more than one year	8	–	56,359
		--------	---------
Net assets		68,154	53,250
		--------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	68,152	53,248
	--------	--------
Shareholders funds	68,154	53,250
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bottles Bar and Restaurant Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 24 July 2023 , and are signed on behalf of the board by:

Mrs S Smyth

Director

Company registration number: 03690593

Bottles Bar and Restaurant Limited

Notes to the Financial Statements

Period from 1 January 2022 to 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Harcombe Road, London, N16 0RX, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.

Income tax

The taxation expense represents the aggregate amount of current recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.It is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 3 (2021: 3 ).

5. Tangible assets

	Investment property
	£
Cost
At 1 January 2022 and 31 March 2023	400,000
	---------
Depreciation
At 1 January 2022 and 31 March 2023	–
	---------
Carrying amount
At 31 March 2023	400,000
	---------
At 31 December 2021	400,000
	---------

Land and buildings represent investment property and are held at fair value. The Directors believe the fair value was not materially different at the year end.

6. Debtors

	31 Mar 23	31 Dec 21
	£	£
Trade debtors	11,349	11,349
	--------	--------

7. Creditors: amounts falling due within one year

	31 Mar 23	31 Dec 21
	£	£
Bank loans and overdrafts	–	31,546
Corporation tax	29,852	23,306
Other creditors	324,096	251,522
	---------	---------
	353,948	306,374
	---------	---------

8. Creditors: amounts falling due after more than one year

	31 Mar 23	31 Dec 21
	£	£
Bank loans and overdrafts	–	56,359
	----	--------

9. Related party transactions

At the period end, the company owed a director £322,356 (2021: £246,474)