Edinburgh Bars Ltd

Edinburgh Bars Ltd

EDINBURGH BARS LTD - Company Information

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1 November 2016 false No description of principal activity Taxfiler 2018.7.Web SC415950business:PrivateLimitedCompanyLtd2016-11-012017-10-31 SC4159502016-10-31 SC4159502016-11-012017-10-31 SC415950business:AuditExemptWithAccountantsReport2016-11-012017-10-31 SC415950business:FullAccounts2016-11-012017-10-31 SC4159502017-10-31 SC415950business:Director12016-11-012017-10-31 SC415950business:RegisteredOffice2016-11-012017-10-31 SC4159502016-10-31 SC415950core:WithinOneYear2017-10-31 SC415950core:WithinOneYear2016-10-31 SC415950core:ShareCapital2017-10-31 SC415950core:ShareCapital2016-10-31 SC415950core:RetainedEarningsAccumulatedLosses2017-10-31 SC415950core:RetainedEarningsAccumulatedLosses2016-10-31 SC415950business:SmallEntities2016-11-012017-10-31 SC415950countries:Scotland2016-11-012017-10-31 SC415950core:FurnitureFittings2016-11-012017-10-31 SC415950core:FurnitureFittings2016-10-31 SC415950core:FurnitureFittings2017-10-31 SC4159502015-11-012016-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC415950 (Scotland)
Edinburgh Bars Ltd Unaudited accounts for the year ended 31 October 2017
Edinburgh Bars Ltd Unaudited accounts Contents
Page
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Edinburgh Bars Ltd Company Information for the year ended 31 October 2017
Director
Michael McGuigan
Company Number
SC415950 (Scotland)
Registered Office
182 MORRISON STREET EDINBURGH EH3 8EB SCOTLAND
Accountants
Oak Team Associates Limited 272 Bath Street Glasgow G2 4JR
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Edinburgh Bars Ltd Accountants' report
Accountants' report to the director of Edinburgh Bars Ltd on the preparation of the unaudited statutory accounts for the year ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Edinburgh Bars Ltd for the year ended 31 October 2017 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Edinburgh Bars Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Edinburgh Bars Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Edinburgh Bars Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Edinburgh Bars Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Edinburgh Bars Ltd. You consider that Edinburgh Bars Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Edinburgh Bars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Oak Team Associates Limited 272 Bath Street Glasgow G2 4JR 23 July 2018
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Edinburgh Bars Ltd Statement of financial position as at 31 October 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
68,265 
- 
Current assets
Inventories
5
9,981 
- 
Debtors
6
36,297 
100 
Cash at bank and in hand
13,737 
- 
60,015 
100 
Creditors: amounts falling due within one year
7
(120,189)
- 
Net current (liabilities)/assets
(60,174)
100 
Net assets
8,091 
100 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,991 
- 
Shareholders' funds
8,091 
100 
For the year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 July 2018.
Michael McGuigan Director Company Registration No. SC415950
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Edinburgh Bars Ltd Notes to the Accounts for the year ended 31 October 2017
1
Statutory information
Edinburgh Bars Ltd is a private company, limited by shares, registered in Scotland, registration number SC415950. The registered office is 182 MORRISON STREET, EDINBURGH, EH3 8EB, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 October 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on a straight line basis
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Edinburgh Bars Ltd Notes to the Accounts for the year ended 31 October 2017
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2016
- 
Additions
85,331 
At 31 October 2017
85,331 
Depreciation
Charge for the year
17,066 
At 31 October 2017
17,066 
Net book value
At 31 October 2017
68,265 
5
Inventories
2017 
2016 
£ 
£ 
Raw materials
9,981 
- 
9,981 
- 
6
Debtors
2017 
2016 
£ 
£ 
Amounts due from group undertakings etc.
36,197 
- 
Other debtors
100 
100 
36,297 
100 
7
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
48,081 
- 
Trade creditors
37,036 
- 
Taxes and social security
21,391 
- 
Other creditors
4,231 
- 
Loans from directors
9,450 
- 
120,189 
- 
8
Average number of employees
During the year the average number of employees was 10 (2016: 0).
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