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That Bournemouth Street Bar Limited |
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Financial Statements |
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for the Year Ended 31 July 2021 |
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That Bournemouth Street Bar Limited |
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Financial Statements |
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for the Year Ended 31 July 2021 |
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That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Contents of the Financial Statements |
for the year ended 31 July 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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That Bournemouth Street Bar Limited |
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Company Information |
for the year ended 31 July 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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Chartered Accountants and Statutory Auditor |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Balance Sheet |
31 July 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Notes to the Financial Statements |
for the year ended 31 July 2021 |
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1. | Statutory information |
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That Bournemouth Street Bar Limited is a
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2. | Accounting policies |
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Accounting convention |
These financial assets have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
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The financial statements are prepared in, which is the functional currency of the company. Monetary amounts in these financial assets are rounded to the nearest pound. |
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The financial assets have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
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Going concern |
The encouraging trading experienced following Covid lockdown periods in 2020 and 2021, and the enduring benefit of the staycation boom, has had a positive impact on the company and its prospects such that the directors believe it has recovered from the impact of Covid. |
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Further assurance of support has been confirmed by the majority shareholder and director of the ultimate parent company. This confirmation of support has been made to the ultimate parent company and all subsidiaries including That Bournemouth Street Bar Limited and has been given for a period of at least twelve months from approval of these financial statements. The directors are of the opinion that this company is on a sound financial footing and well placed to prosper in the future. |
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Based on the above, the directors have concluded that they can continue to adopt a going concern basis in preparing the company’s annual report and accounts. This assessment has been made for a period of twelve months from the date of approving these financial statements. |
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Turnover |
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, on the date when the service is provided and is shown net of VAT. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
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Leasehold improvements | 125 years |
Plant and equipment | 10 years |
Fixtures and fittings | 10 years |
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Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Stocks |
Stocks, which consist of food and beverages, are stated at the lower of cost and estimated selling price and the liquor stocks are independently valued. |
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That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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2. | Accounting policies - continued |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Basic financial assets |
Basic financial assets, which include debtors, balances due from connected companies and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors and loans from connected companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
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Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. |
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Taxation |
The tax expense represents the sum of the tax currently payable and deferred tax. |
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Current tax |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
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Deferred tax |
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
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Retirement benefits |
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
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Employee benefits |
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. |
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3. | Employees and directors |
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The average number of employees during the year was
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That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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4. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 August 2020 |
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Additions |
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At 31 July 2021 |
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Depreciation |
At 1 August 2020 |
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Charge for year |
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At 31 July 2021 |
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Net book value |
At 31 July 2021 |
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At 31 July 2020 |
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HSBC Bank Plc have a fixed and floating charge over the company's fixed assets as disclosed in note 9. |
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5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary shares | £1 | 100 | 100 |
That Bournemouth Street Bar Limited (Registered number: 10866121) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Auditors' Report was unqualified. |
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for and on behalf of
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9. | Financial commitments, guarantees and contingent liabilities |
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HSBC Bank PLC have a fixed and floating charge, dated 4 January 2019, over the company's assets. |
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There is a composite company limited multilateral guarantee dated 4 January 2019 given by That Bournemouth Big Hotel Limited, That Bournemouth Little Hotel Limited, That Bournemouth Car Park Limited, That Bournemouth Street Bar Limited and That Bournemouth H2 Limited. |
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10. | Related party transactions |
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The company has taken advantage of the exemption available in FRS 102 whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary undertaking of the group. |
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11. | Parent company |
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The immediate parent company is That Bournemouth H2 Limited, a company registered in England and Wales. |
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At the year end, the ultimate parent company, which is also the parent for the largest and smallest group of undertakings for which the group financial statements are drawn up for and of which the company is a member is That Bournemouth Company Limited, a company whose registered office is F4 Beehive Yard, Bath, BA1 5BT. |