Ithica Bar And Restaurant Limited - Accounts to registrar (filleted) - small 17.3

Ithica Bar And Restaurant Limited - Accounts to registrar (filleted) - small 17.3

ITHICA BAR AND RESTAURANT LIMITED - Company Information

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REGISTERED NUMBER: 09287328 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 October 2017

for

Ithica Bar And Restaurant Limited
Ithica Bar And Restaurant Limited (Registered number: 09287328)






Contents of the Financial Statements
for the Year Ended 31 October 2017




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Ithica Bar And Restaurant Limited

Company Information
for the Year Ended 31 October 2017







DIRECTOR: N Moumouris





REGISTERED OFFICE: 6 Station View
Rhino Court
Hazel Grove
Stockport
Cheshire
SK7 5ER





REGISTERED NUMBER: 09287328 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
6 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER
Page 1
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Balance Sheet
31 October 2017

31.10.17 31.10.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 13,334
Tangible assets 5 14,351 4,639
14,351 17,973

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 3,997 2,081
Cash at bank and in hand 88,508 51,010
96,005 56,591
CREDITORS
Amounts falling due within one year 7 41,310 51,625
NET CURRENT ASSETS 54,695 4,966
TOTAL ASSETS LESS CURRENT
LIABILITIES
69,046
22,939

CREDITORS
Amounts falling due after more than one
year
8
5,070
6,749
NET ASSETS 63,976 16,190

The notes form part of these financial statements

Page 2 continued...
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Balance Sheet - continued
31 October 2017

31.10.17 31.10.16
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 63,876 16,090
SHAREHOLDERS' FUNDS 63,976 16,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 February 2018 and were signed by:





N Moumouris - Director


The notes form part of these financial statements

Page 3
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Notes to the Financial Statements
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Ithica Bar And Restaurant Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.


Page 4 continued...
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2016
and 31 October 2017 40,000
AMORTISATION
At 1 November 2016 26,666
Charge for year 13,334
At 31 October 2017 40,000
NET BOOK VALUE
At 31 October 2017 -
At 31 October 2016 13,334

Page 5 continued...
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2016 7,378 1,900 9,278
Additions - 14,495 14,495
At 31 October 2017 7,378 16,395 23,773
DEPRECIATION
At 1 November 2016 3,689 950 4,639
Charge for year 922 3,861 4,783
At 31 October 2017 4,611 4,811 9,422
NET BOOK VALUE
At 31 October 2017 2,767 11,584 14,351
At 31 October 2016 3,689 950 4,639

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£    £   
Other debtors 3,997 272
PAYE debtor - 1,809
3,997 2,081

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.17 31.10.16
£    £   
Bank loans and overdrafts 2,340 3,000
Trade creditors 2,670 9,459
Tax 10,377 2,863
Social security and other taxes 922 -
VAT 13,437 12,586
Other creditors - 9,228
Directors' current accounts 10,064 12,989
Accrued expenses 1,500 1,500
41,310 51,625

Page 6 continued...
Ithica Bar And Restaurant Limited (Registered number: 09287328)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.17 31.10.16
£    £   
Bank loans - 1-2 years 5,070 6,749

9. ULTIMATE CONTROLLING PARTY

The controlling party is N Moumouris.

Page 7