Burgundy Wine Bars Ltd Company Accounts

BURGUNDY WINE BARS LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-02-01 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP 02048546 2016-02-01 2017-01-31 02048546 2017-01-31 02048546 2016-01-31 02048546 2015-02-01 2016-01-31 02048546 2016-01-31 02048546 core:PlantMachinery 2016-02-01 2017-01-31 02048546 bus:Director1 2016-02-01 2017-01-31 02048546 core:LandBuildings core:OwnedOrFreeholdAssets 2016-01-31 02048546 core:PlantMachinery 2016-01-31 02048546 core:LandBuildings core:OwnedOrFreeholdAssets 2017-01-31 02048546 core:PlantMachinery 2017-01-31 02048546 core:WithinOneYear 2017-01-31 02048546 core:WithinOneYear 2016-01-31 02048546 core:ShareCapital 2017-01-31 02048546 core:ShareCapital 2016-01-31 02048546 core:RetainedEarningsAccumulatedLosses 2017-01-31 02048546 core:RetainedEarningsAccumulatedLosses 2016-01-31 02048546 core:LandBuildings core:OwnedOrFreeholdAssets 2016-01-31 02048546 core:PlantMachinery 2016-01-31 02048546 bus:FRS102 2016-02-01 2017-01-31 02048546 bus:AuditExempt-NoAccountantsReport 2016-02-01 2017-01-31 02048546 bus:FullAccounts 2016-02-01 2017-01-31 02048546 bus:SmallCompaniesRegimeForAccounts 2016-02-01 2017-01-31 02048546 bus:PrivateLimitedCompanyLtd 2016-02-01 2017-01-31 02048546 core:OtherRelatedParties 2016-02-01 2017-01-31

COMPANY REGISTRATION NUMBER: 02048546

Burgundy Wine Bars Ltd

Filleted Unaudited Financial Statements

31 January 2017

Burgundy Wine Bars Ltd

Financial Statements

Year ended 31 January 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Burgundy Wine Bars Ltd

Statement of Financial Position

31 January 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	219,522	225,341

Current assets

Stocks		9,096	10,908
Debtors	6	15,910	27,450
Cash at bank and in hand		2,595	3,254
		---------	---------
		27,601	41,612

Creditors: amounts falling due within one year	7	( 149,372)	( 159,914)
		-----------	-----------
Net current liabilities		( 121,771)	( 118,302)
		-----------	-----------
Total assets less current liabilities		97,751	107,039

Provisions	( 11,832)	–
	---------	-----------
Net assets	85,919	107,039
	---------	-----------

Burgundy Wine Bars Ltd

Statement of Financial Position (continued)

31 January 2017

	2017	2016
Note	£	£

Capital and reserves

Called up share capital	2	2
Profit and loss account	85,917	107,037
	---------	-----------
Member funds	85,919	107,039
	---------	-----------

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 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 comprehensive income has not been delivered.

For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 July 2017 , and are signed on behalf of the board by:

Mr MA Pennington
Director

Company registration number: 02048546

Burgundy Wine Bars Ltd

Notes to the Financial Statements

Year ended 31 January 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Lowther Street, Kendal, Cumbria, LA9 4DH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

	Plant and machinery	-	10% reducing balance

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2016: 12 ).

5. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 February 2016	160,363	156,125	316,488
Additions	–	750	750
	-----------	-----------	-----------
At 31 January 2017	160,363	156,875	317,238
	-----------	-----------	-----------
Depreciation
At 1 February 2016	–	91,147	91,147
Charge for the year	–	6,569	6,569
	-----------	-----------	-----------
At 31 January 2017	–	97,716	97,716
	-----------	-----------	-----------
Carrying amount
At 31 January 2017	160,363	59,159	219,522
	-----------	-----------	-----------
At 31 January 2016	160,363	64,978	225,341
	-----------	-----------	-----------

6. Debtors

	2017	2016
	£	£
Other debtors	15,910	27,450
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	540	4,231
Trade creditors	26,805	32,262
Corporation tax	5,119	7,180
Social security and other taxes	23,124	12,250
Other creditors - Company Credit Card	3,750	4,329
Other creditors	90,034	99,662
	-----------	-----------
	149,372	159,914
	-----------	-----------

8. Director's advances, credits and guarantees

Mr M A Pennington, the director, was owed by Burgundy Wine Bars Limited £82,438 (2016: £98,253) at the year end.

9. Related party transactions

Mr M A Pennington, the director owns and controls Kendal Brewing Co Ltd which owes Burgundy Wine Bars Ltd £8,005 (2016: £3,425) at the year end. Mr M A Pennington, the director owns and controls Kendal Mint Cake Co Ltd which owes Burgundy Wine Bars Ltd £2,693 (2016: £17,449) at the year end. No transactions with related parties were undertaken, other than those disclosed in the notes, such as are required to be disclosed under the FRS102A Section 1A.