Company Registration No. 06965622 (England and Wales)
PIERREPONT`S CAFE LTD
Unaudited accounts
for the year ended 31 July 2021
PIERREPONT`S CAFE LTD
Unaudited accounts
Contents
PIERREPONT`S CAFE LTD
Company Information
for the year ended 31 July 2021
Directors
Stephanie Kingsland
Phillip Kingsland
Company Number
06965622 (England and Wales)
Registered Office
1 HIGH STREET
GORING - ON - THAMES
OXFORDSHIRE
RG8 9AB
UNITED KINGDOM
Accountants
Nutshell Accounts
15 London End
Beaconsfield
Buckinghamshire
HP9 2HN
PIERREPONT`S CAFE LTD
Statement of financial position
as at 31 July 2021
Tangible assets
65,053
80,745
Cash at bank and in hand
6,399
17,713
Creditors: amounts falling due within one year
(380,260)
(323,522)
Net current liabilities
(347,572)
(289,820)
Total assets less current liabilities
(282,519)
(209,075)
Creditors: amounts falling due after more than one year
(81,806)
(137,375)
Net liabilities
(364,325)
(346,450)
Called up share capital
1,000
1,000
Profit and loss account
(365,325)
(347,450)
Shareholders' funds
(364,325)
(346,450)
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2022 and were signed on its behalf by
Phillip Kingsland
Director
Company Registration No. 06965622
PIERREPONT`S CAFE LTD
Notes to the Accounts
for the year ended 31 July 2021
PIERREPONT`S CAFE LTD is a private company, limited by shares, registered in England and Wales, registration number 06965622. The registered office is 1 HIGH STREET, GORING - ON - THAMES, OXFORDSHIRE, RG8 9AB, UNITED KINGDOM.
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Compliance with accounting standards
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 August 2017 to continue to be charged over the period to the first market rent review rather than the term of the lease.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PIERREPONT`S CAFE LTD
Notes to the Accounts
for the year ended 31 July 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Harwell leasehold property - Straight line over 7 years
Short-term leasehold property - 10% Straight Line
Fixtures and fittings - 33% Straight Line
Office Equipment - 20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2020
132,465
54,770
1,342
188,577
Additions
-
1,841
2,080
3,921
At 31 July 2021
132,465
56,611
3,422
192,498
At 1 August 2020
54,716
52,233
883
107,832
Charge for the year
16,829
2,352
432
19,613
At 31 July 2021
71,545
54,585
1,315
127,445
At 31 July 2021
60,920
2,026
2,107
65,053
At 31 July 2020
77,749
2,537
459
80,745
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Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
8,587
9,084
PIERREPONT`S CAFE LTD
Notes to the Accounts
for the year ended 31 July 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
52,438
50,000
Trade creditors
117,648
59,395
Taxes and social security
68,547
69,730
Other creditors
122,297
99,503
Loans from directors
19,330
44,164
Included within Other Creditors is an amount due to The Trustees of the Pierreponts SSAS amounting to £85,810 (2020: £34,184). The trustees of this SSAS include Mr P and Mrs S Kingsland, directors of the company. This unsecured loan is repayable in 5 equal instalments and interest is accruing at 5% per annum.
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Creditors: amounts falling due after more than one year
2021
2020
Other creditors
81,806
137,375
Included within Other Creditors is an amount due to The Trustees of the Pierreponts SSAS amounting to £54,759 (2020: £99,691). The trustees of this SSAS include Mr P and Mrs S Kingsland, directors of the company. This unsecured loan is repayable in 5 equal instalments and interest is accruing at 5% per annum.
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Average number of employees
During the year the average number of employees was 19 (2020: 18).
