Buck's Bar Limited - Accounts to registrar (filleted) - small 18.2

Buck's Bar Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC537717 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

BUCK'S BAR LIMITED

BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2020




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)

ABRIDGED BALANCE SHEET
31 October 2020

31.10.20 31.10.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,023 9,308

CURRENT ASSETS
Stocks 16,119 67,428
Debtors 215,005 105,469
231,124 172,897
CREDITORS
Amounts falling due within one year 250,934 181,650
NET CURRENT LIABILITIES (19,810 ) (8,753 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,213

555

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,211 553
1,213 555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)

ABRIDGED BALANCE SHEET - continued
31 October 2020



The financial statements were approved by the director and authorised for issue on 4 June 2021 and were signed by:





M Bergson - Director


BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2020

1. STATUTORY INFORMATION

Buck'S Bar Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC537717

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
North Lanarkshire
G65 0NH

2. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Government grants
Government grants are recognised using the performance model.

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.

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 37 (2019 - 21 ) .

BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2020

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2019 15,477
Additions 15,747
At 31 October 2020 31,224
DEPRECIATION
At 1 November 2019 6,169
Charge for year 4,032
At 31 October 2020 10,201
NET BOOK VALUE
At 31 October 2020 21,023
At 31 October 2019 9,308

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.20 31.10.19
£    £   
Within one year 12,744 12,744
Between one and five years 50,976 50,976
In more than five years 76,464 89,208
140,184 152,928

6. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,395 (2019: £7,232). At the balance sheet date, unpaid contributions of £6,813 (2019 £Nil) were due to the fund. They are included in accruals.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party by virtue of shares held is M Bergson.

BUCK'S BAR LIMITED (REGISTERED NUMBER: SC537717)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2020

8. COVID-19

As a result of the Covid-19 pandemic the company has been subject to a significant reduction in the expected level of trade during the year. In order to support the business during this period the company has received the following financial support from local and national governments:

The company has applied for and received £50,000 from the Governments Covronavirus Bounce Back Loan Scheme.

The company has applied and received a grant of £25,000 from the Scottish Governments Business Support Fund.

During the year some staff have been furloughed. With staff being placed on furlough the business was eligible for the Government's Coronavirus Job Retention Scheme (CJRS) which has reimbursed 80% of the salaries.

The company has received support through the Government's Eat Out to Help Out Scheme during the year. Under this Scheme the company discounted food and non alcoholic beverages by 50 percent which was subsequently reimbursed by the Government. This occurred on Mondays, Tuesdays and Wednesdays between the 3rd and 31st of August 2020.