Lads Pub Company Limited - Limited company accounts 20.1

REGISTERED NUMBER: 09068472 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Lads Pub Company Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

A Pomaro

G Pomaro

S Robb

SECRETARY:

REGISTERED OFFICE:

341 Garratt Lane

Wandsworth

London

SW18 4DX

REGISTERED NUMBER:

09068472 (England and Wales)

ACCOUNTANTS:

MSS Accountancy Services Ltd

103 Victoria Drive

Wimbledon

London

SW19 6PT

The directors present their report with the financial statements of the company for the year ended 30 September 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of public house services, specifically selling

beverages and food to the public.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2018 to the date of this

report.

A Pomaro

G Pomaro

S Robb

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A Pomaro - Director

30 June 2020

TURNOVER

559,253

638,612

Cost of sales

209,151

222,955

GROSS PROFIT

350,102

415,657

Administrative expenses

315,831

387,237

OPERATING PROFIT

4

34,271

28,420

Interest payable and similar expenses

8,119

8,773

PROFIT BEFORE TAXATION

26,152

19,647

Tax on profit

-

-

PROFIT FOR THE FINANCIAL YEAR

26,152

19,647

CURRENT ASSETS

Stocks

7,356

6,412

Cash at bank

21,357

39,546

28,713

45,958

CREDITORS

Amounts falling due within one year

6

86,438

108,336

NET CURRENT LIABILITIES

(57,725

)

(62,378

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,725

)

(62,378

)

CREDITORS

Amounts falling due after more than one year

7

9,313

30,812

NET LIABILITIES

(67,038

)

(93,190

)

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

(67,048

)

(93,200

)

SHAREHOLDERS' FUNDS

(67,038

)

(93,190

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2020 and were signed on its behalf by:

A Pomaro - Director

1.	STATUTORY INFORMATION

Lads Pub Company Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 14 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.19

30.9.18

£

£

Depreciation - owned assets

-

874

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

19,056

5,677

24,733

DEPRECIATION

At 1 October 2018

and 30 September 2019

19,056

5,677

24,733

NET BOOK VALUE

At 30 September 2019

-

-

-

At 30 September 2018

-

-

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Taxation and social security

17,255

21,422

Other creditors

69,183

86,914

86,438

108,336

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans

9,313

30,812

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

10

Ordinary

£1.00

10

10