The Crown Bar (Holytown) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC234800 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

THE CROWN BAR (HOLYTOWN) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

James Carson

Mathew McCallum

REGISTERED OFFICE:

4d Auchingramont Road

Hamilton

ML3 6JT

BUSINESS ADDRESS:

200 Main Street

Holytown

Motherwell

ML1 4TP

REGISTERED NUMBER:

SC234800 (Scotland)

ACCOUNTANTS:

William Duncan (UK) Limited

Chartered Accountants

4d Auchingramont Road

Hamilton

ML3 6JT

BANKERS:

Royal Bank of Scotland

24/25 Princes Square

East Kilbride

G74 1LJ

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Stocks

1,661

2,448

Debtors

5

54,785

54,785

Cash in hand

3,264

949

59,710

58,182

CREDITORS

Amounts falling due within one year

6

58,923

60,055

NET CURRENT ASSETS/(LIABILITIES)

787

(1,873

)

TOTAL ASSETS LESS CURRENT LIABILITIES

788

(1,872

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

688

(1,972

)

SHAREHOLDERS' FUNDS

788

(1,872

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 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 Board of Directors on 14 March 2018 and were signed on its behalf by:

James Carson - Director

1.	STATUTORY INFORMATION

The Crown Bar (Holytown) Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Rendering of services

Turnover from the rendering of services, namely the provision of a public house and bar, is recognised by

reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the

income statement.

Stocks

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

moving items.

Financial instruments

Basic financial instruments are recognised as follows:

(i) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method less any impairment.

(ii) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in

liabilities on the statement of financial position.

(iii) Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Provisions for liabilities

The company recognises a provision for annual leave accrued by employees as a result of services rendered in

the current period, and which employees are entitled to carry forward and use within the next 12 months. The

provision is measured at the salary cost payable for the period of absence.

3.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2016

and 30 September 2017

9,887

DEPRECIATION

At 1 October 2016

and 30 September 2017

9,886

NET BOOK VALUE

At 30 September 2017

1

At 30 September 2016

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Director's loan

54,785

54,785

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

9,963

15,486

Trade creditors

1,058

2,711

Corporation tax

344

-

PAYE and NIC

5

4

VAT

2,662

1,952

Director's loan

38,694

34,795

Accrued charges

6,197

5,107

58,923

60,055

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following net advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

30.9.17

30.9.16

£

£

Mathew McCallum

Balance outstanding at start of year

54,785

54,785

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

54,785

54,785

The above balance, which is due from a director, is interest free, unsecured and has no fixed repayment terms.

8.	RELATED PARTY DISCLOSURES

During the year, the company received an interest free loan from a director amounting to £38,694 (2016:

£34,795).