Red Bar & Cafe Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06271068 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Red Bar & Cafe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J R Gray

SECRETARY:

J R Gray

REGISTERED OFFICE:

105 Queens Road

Weybridge

Surrey

KT13 9UJ

REGISTERED NUMBER:

06271068 (England and Wales)

ACCOUNTANTS:

Chris Derby Limited

Accounting Services

2 Clarendon Road

Ashford

Middlesex

TW15 2QE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,646

9,726

8,646

9,726

CURRENT ASSETS

Stocks

18,386

11,818

Debtors

6

35,177

70,727

Cash at bank and in hand

73

5,325

53,636

87,870

CREDITORS

Amounts falling due within one year

7

218,669

196,726

NET CURRENT LIABILITIES

(165,033

)

(108,856

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(156,387

)

(99,130

)

CREDITORS

Amounts falling due after more than one year

8

92,570

100,000

NET LIABILITIES

(248,957

)

(199,130

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(249,057

)

(199,230

)

(248,957

)

(199,130

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

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 and authorised for issue on 23 December 2022 and were signed by:

J R Gray - Director

1.	STATUTORY INFORMATION

Red Bar & Cafe 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

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Going concern

At 31 December 2021 the statement of financial position shows net liabilities of £248,957 (2020 £199,130). The company is reliant upon the continued support of its director, who has confirmed his continued financial support of the company. The director therefore considers it appropriate to prepare the accounts on a going concern basis.

The Coronavirus pandemic has created significant uncertainty globally and the company is not immune to this.The bar was required to temporarily close at various times as a result of the UK lockdown and the director has taken all relevant measures to ensure they are able to safeguard cashflow and jobs. Whilst the pandemic has had a major financial impact on the company, at this stage it is not possible to reliably forecast when business may be restored to former levels. .

Given the uncertainties that exist, this may cast significant doubt on the company's ability to continue as a going concern, however, the director believes that the actions taken should allow the company to continue in operational existence.

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 0, is being amortised evenly over its estimated useful life of nil 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.

Plant and machinery etc

-

10% 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

27,625

AMORTISATION

At 1 January 2021

and 31 December 2021

27,625

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2021

and 31 December 2021

50,000

439,506

489,506

DEPRECIATION

At 1 January 2021

50,000

429,780

479,780

Charge for year

-

1,080

1,080

At 31 December 2021

50,000

430,860

480,860

NET BOOK VALUE

At 31 December 2021

-

8,646

8,646

At 31 December 2020

-

9,726

9,726

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

-

2,696

Other debtors

35,177

68,031

35,177

70,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

8,752

-

Trade creditors

131,778

189,679

Taxation and social security

47,941

1,973

Other creditors

30,198

5,074

218,669

196,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

92,570

100,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

92,570

100,000

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21

31.12.20

£

£

J R Gray

Balance outstanding at start of year

5,000

-

Amounts advanced

-

5,000

Amounts repaid

(5,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,000