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Financial Statements for the Year Ended 28 February 2022 |
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Sixteen Group Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 28 February 2022 |
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for |
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Sixteen Group Limited |
Sixteen Group Limited (Registered number: 12473865) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Sixteen Group Limited |
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Company Information |
for the Year Ended 28 February 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Sixteen Group Limited (Registered number: 12473865) |
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Balance Sheet |
28 February 2022 |
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28.2.22 | 28.2.21 |
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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
Sixteen Group Limited (Registered number: 12473865) |
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Balance Sheet - continued |
28 February 2022 |
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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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Sixteen Group Limited (Registered number: 12473865) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Sixteen Group Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have considered the consequences of COVID-19 and other events and conditions, and they have determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern. |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable from bar and restaurant sales, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
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Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Sixteen Group Limited (Registered number: 12473865) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 28 February 2022 |
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DEPRECIATION |
Charge for year |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Sixteen Group Limited (Registered number: 12473865) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Bank loans |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
28.2.22 | 28.2.21 |
£ | £ |
Within one year |
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Between one and five years |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Mr M King, a director operates a current account to which transactions of a private nature are charged. Included in other debtors at 28th February 2022 is £5,324 owed to the company. The loan is repayable on demand and interest free. |
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Mr G Carr, a director operates a current account to which transactions of a private nature are charged. Included in other debtors at 28th February 2022 is £7,000 owed to the company. The loan is repayable on demand and interest free. |
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10. | RELATED PARTY DISCLOSURES |
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Included in other debtors at 28th February 2022 is £873 owed from related parties under common control. The loans are repayable on demand and interest free. |