Trentham Parogon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12997745 (England and Wales)

Financial Statements

for the Period 4 November 2020 to 30 June 2021

for

Trentham Parogon Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

R J Colclough

SECRETARY:

R J Colclough

REGISTERED OFFICE:

The Orange Tree Bar & Grill

371 Newcastle Road

Stoke on Trent

Staffordshire

ST4 6PG

REGISTERED NUMBER:

12997745 (England and Wales)

AUDITORS:

Mitten Clarke Audit Limited

Statutory Auditors

The Glades

Festival Way

Stoke on Trent

Staffordshire

ST1 5SQ

FIXED ASSETS

Intangible assets

4

2,076

Tangible assets

5

316,915

318,991

CURRENT ASSETS

Stocks

18,712

Debtors

6

82,115

Cash at bank and in hand

221,992

322,819

CREDITORS

Amounts falling due within one year

7

618,462

NET CURRENT LIABILITIES

(295,643

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,348

PROVISIONS FOR LIABILITIES

10,459

NET ASSETS

12,889

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

12,888

SHAREHOLDERS' FUNDS

12,889

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 March 2022 and were signed by:

R J Colclough - Director

1.	STATUTORY INFORMATION

Trentham Parogon Ltd 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.

The principal place of business address is Willow, Trentham Gardens, Stone Road, Stoke-on-Trent, ST4 8JG.

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.

The financial statements cover the company as an individual entity, have been prepared under the historical cost convention and are presented in Pounds Sterling (£) being the functional currency.

These financial statements are for a shortened period, the period was shortened to bring the year end in line with other companies in the group.

Going concern

The financial statements have been prepared on the assumption that the Company is able to carry on business as a going concern, which the Directors consider to be appropriate having regard to the Company's expected future performance. Particular consideration has been given to the impact of the COVID-19 pandemic on the business, and the ability of the Company to operate for the foreseeable future. Detailed forecasts have been produced. These forecasts demonstrate the Directors expectation that the Company will be profitable and will have access to sufficient resources for the foreseeable future, giving the Directors confidence that the Company is a going concern.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with entities within the group where the relationship is one of being wholly owned.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies.

The director considers that there are no areas involving a high degree of judgement or complexity and no areas where assumptions and estimates are significant to the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, after discounts, returns and rebates, excluding value added tax and other sales taxes. Bar and food sales are recognised at the point of the sale.

Turnover from the sale of goods is recognised when all the following conditions are satisfied:

-

the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

-

the amount of turnover can be measured reliably;

-

the costs incurred or to be incurred in respect of the transition can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Website costs are being amortised evenly over their estimated useful life of 3 years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% on cost

Tangible fixed assets costing £1,000 or more are capitalised under the cost model and stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation on assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Stocks

Stocks are stated at the lower of cost and net realisable value (estimated selling price less costs to complete and sell). Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Leasing commitments

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

Lease incentives are recognised as a reduction of rental expense and are amortised on a straight line basis.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 .

4.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

Additions

2,300

At 30 June 2021

2,300

AMORTISATION

Amortisation for period

224

At 30 June 2021

224

NET BOOK VALUE

At 30 June 2021

2,076

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

Additions

117,455

201,032

7,443

325,930

Disposals

-

(524

)

-

(524

)

At 30 June 2021

117,455

200,508

7,443

325,406

DEPRECIATION

Charge for period

2,370

5,590

531

8,491

At 30 June 2021

2,370

5,590

531

8,491

NET BOOK VALUE

At 30 June 2021

115,085

194,918

6,912

316,915

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

6,907

Other debtors

75,208

82,115

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

90,090

Amounts owed to group undertakings

397,999

Taxation and social security

4,472

Other creditors

125,901

618,462

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

64,763

Between one and five years

366,128

430,891

Total lease payments recognised as an expense during the period amounted to £19,281.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola Johnson FCA (Senior Statutory Auditor)

for and on behalf of Mitten Clarke Audit Limited

10.	ULTIMATE PARENT COMPANY

The ultimate parent company is The Parogon Pub Group Limited which has the registered office of The Swan With Two Necks, Nantwich Road, Blackbrook, Newcastle, Staffordshire, ST5 5EH.