Spirit Bar Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03755566 (England and Wales)

Abbreviated Accounts for the Year Ended 31 May 2016

for

Spirit Bar Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R Y Opher

A Thompson

REGISTERED OFFICE:

7/8 Park End Street

Oxford

Oxfordshire

OX1 1HH

REGISTERED NUMBER:

03755566 (England and Wales)

ACCOUNTANTS:

Paul Howley & Co Ltd

Chartered Certified Accountants

42 Pitt Street

Barnsley

South Yorkshire

S70 1BB

FIXED ASSETS

Tangible assets

2

109,555

137,378

CURRENT ASSETS

Stocks

55,020

61,350

Debtors

89,961

85,267

Cash at bank and in hand

134,910

94,888

279,891

241,505

CREDITORS

Amounts falling due within one year

3

324,377

252,234

NET CURRENT LIABILITIES

(44,486

)

(10,729

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

65,069

126,649

CREDITORS

Amounts falling due after more than one year

3

(15,571

)

(69,350

)

PROVISIONS FOR LIABILITIES

(9,390

)

(11,569

)

NET ASSETS

40,108

45,730

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

40,008

45,630

SHAREHOLDERS' FUNDS

40,108

45,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 January 2017 and were signed on its behalf by:

R Y Opher - Director

A Thompson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Land and buildings

-

In accordance with the lease term

Plant and machinery etc

-

25% on reducing balance and In accordance with the lease term

Stocks

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

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

881,646

Additions

1,655

At 31 May 2016

883,301

DEPRECIATION

At 1 June 2015

744,268

Charge for year

29,478

At 31 May 2016

773,746

NET BOOK VALUE

At 31 May 2016

109,555

At 31 May 2015

137,378

3.

CREDITORS

Creditors include an amount of £ 68,872 (31.5.15 - £ 122,645 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

100

Ordinary

£1

100