Year Ended
Registration number:
Pollocks Pub Co Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pollocks Pub Co Ltd
Company Information
Directors |
T Gaze J M Marquis M F Marquis E R Glyn |
Registered office |
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Accountants |
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Pollocks Pub Co Ltd
Balance Sheet
30 September 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Pollocks Pub Co Ltd
Balance Sheet
30 September 2021
For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 09151267
Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Going concern
In preparing and approving these financial statements the Directors have given due consideration to going concern risks, and in particular trading impacts following both the Coronavirus pandemic and changing market conditions.
The pandemic has led to widespread, profound economic shocks, and has also forced the closure of restaurants under government guidelines. Having endured prolonged closure periods in the trading year due to Coronavirus lockdowns, Pollocks Pub Co Ltd has emerged from the pandemic in a strong position with a robust operation and business model.
During the closure period the Company were supported by the Government Job Retention Scheme grant scheme and Government closure grants, which allowed the company passage through the pandemic. In particular, the Job Retention Scheme allowed the company to retain staff throughout the two years of the pandemic.
Whilst recognising that there can be no certainty, the directors are satisfied that the going concern basis of preparation remains appropriate and that the impact of the pandemic is not considered to be an adjusting post balance sheet event.
Whilst the Directors continue to model various scenarios to establish how the business might react to differing lockdown impositions, they are confident that the major impacts of the pandemic are now in the past. Should there be further lockdowns, the Directors are confident that the company is able to cope, given the experience of having done so over the past two years and the improvement in reserves since winter 2020.
After due consideration of these factors the Directors are satisfied that the company will be able to operate within their available facilities and continue as a going concern for the foreseeable future – being a period no less than 12 months from the date of approval of these financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
over the lease term |
Furniture, fittings and equipment |
15-30% straight line |
Motor vehicles |
25% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using either the first-in, first-out (FIFO) method or replacement cost.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 October 2020 |
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Additions |
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Disposals |
- |
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- |
( |
At 30 September 2021 |
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Depreciation |
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At 1 October 2020 |
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Charge for the year |
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Eliminated on disposal |
- |
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- |
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At 30 September 2021 |
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Carrying amount |
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At 30 September 2021 |
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At 30 September 2020 |
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- |
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Stocks |
2021 |
2020 |
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Other inventories |
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Debtors |
2021 |
2020 |
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Trade debtors |
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- |
Prepayments |
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Other debtors |
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Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
146,732 |
122,927 |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2021 |
2020 |
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Current loans and borrowings |
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Other borrowings |
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2021 |
2020 |
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Loans and borrowings due after one year |
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Other borrowings |
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Pollocks Pub Co Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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150 |
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150 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £