Company Registration No. SC341902 (Scotland)
BOTHY BISTRO BURGHEAD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
BOTHY BISTRO BURGHEAD LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BOTHY BISTRO BURGHEAD LTD
BALANCE SHEET
AS AT
30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
82,700
73,445
Current assets
Stocks
17,264
35,967
Debtors
4
22,537
10,022
Cash at bank and in hand
47,130
13,050
86,931
59,039
Creditors: amounts falling due within one year
5
(117,304)
(132,788)
Net current liabilities
(30,373)
(73,749)
Total assets less current liabilities
52,327
(304)
Creditors: amounts falling due after more than one year
6
(2,610)
Net assets/(liabilities)
52,327
(2,914)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
52,227
(3,014)
Total equity
52,327
(2,914)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BOTHY BISTRO BURGHEAD LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2021
30 April 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 October 2021 and are signed on its behalf by:
Mr Barry Scott
Director
Company Registration No. SC341902
BOTHY BISTRO BURGHEAD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
1
Accounting policies
Company information
Bothy Bistro Burghead Ltd is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
Commerce House, South Street, ELGIN, IV30 1JE.
1.1
Accounting convention
These financial statements 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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The balance sheet shows there are net current liabilities of £30,373 (2020 - £73,749). The directors are confident that sufficient measures are in place in order to enable the company to meet its day to day financial obligations as and when they fall due and they will provide financial support where necessary. The financial statements have therefore been prepared on the going concern basis.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
,
the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
10% and 2% straight line
Motor vehicles
25% reducing balance
1.5
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).
BOTHY BISTRO BURGHEAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.8
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include cash and bank balances, are measured at transaction price including transaction costs
.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
BOTHY BISTRO BURGHEAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
16
18
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 May 2020
93,401
16,000
109,401
Additions
20,241
20,241
At 30 April 2021
113,642
16,000
129,642
Depreciation and impairment
At 1 May 2020
30,456
2,625
33,081
Depreciation charged in the year
8,361
5,500
13,861
At 30 April 2021
38,817
8,125
46,942
Carrying amount
At 30 April 2021
74,825
7,875
82,700
At 30 April 2020
62,945
10,500
73,445
BOTHY BISTRO BURGHEAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 6 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
22,537
10,022
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
50,000
Trade creditors
18,961
1,657
Amounts owed to group undertakings
1,250
Taxation and social security
2,772
8,118
Other creditors
45,571
121,763
117,304
132,788
Within other creditors are amounts relating to assets held under finance leases totalling £5,045 (2020 - £4,111). These amounts are secured over the assets to which they relate.
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
2,610
Within other creditors: amounts falling due after more than one year are amounts relating to assets held under finance leases totalling £Nil (2020 - £2,610). These amounts are secured over the assets to which they relate.
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
BOTHY BISTRO BURGHEAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 7 -
8
Related party transactions
2021
2020
Amounts due to related parties
£
£
Key management personnel
9,141
10,356
Other related parties
30,090
106,719
These amounts are interest free and have no fixed terms of repayment.
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due from related parties
£
£
Other related parties
10,121
-
These amounts are interest free and have no fixed terms of repayment.