Poco Bristol Ltd - Accounts

Poco Bristol Ltd - Accounts

POCO BRISTOL LTD - Company Information

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Registered Number: 07822856
England and Wales

 

 

 

POCO BRISTOL LTD


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2021

End date: 31 October 2022

Poco Bristol Ltd
Contents Page
For the year ended 31 October 2022
Directors Jennifer Best
Benjamin Pryor
Thomas Hunt
Registered Number 07822856
Registered Office 45 Jamaica Street
Bristol
BS2 8JP
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2022
Principal activities
Principal activity of the company during the financial year was that of restaurant.
Directors

The directors who served the company throughout the year were as follows:
Jennifer Best
Benjamin Pryor
Thomas Hunt



Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Jennifer Best
Director

Date approved: 25 May 2023
2
Report to the directors on the preparation of the unaudited statutory accounts of Poco Bristol Ltd for the year ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Poco Bristol Ltd for the year ended 31 October 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Poco Bristol Ltd, as a body, in accordance with the terms of our engagement letter dated 03 September 2019 Our work has been undertaken solely to prepare for your approval the accounts of Poco Bristol Ltd and state those matters that we have agreed to state to the Board of Directors of Poco Bristol Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poco Bristol Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Poco Bristol Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Poco Bristol Ltd. You consider that Poco Bristol Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Poco Bristol Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 October 2022


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
25 May 2023
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 4 9,816    5,626 
9,816    5,626 
Current assets      
Stocks 5 8,363    10,124 
Debtors 6 8,375    8,360 
Cash at bank and in hand 121,648    173,703 
138,386    192,187 
Creditors: amount falling due within one year 7 (99,352)   (168,027)
Net current assets 39,034    24,160 
 
Total assets less current liabilities 48,850    29,786 
Provisions for liabilities 8 (1,865)   (1,069)
Net assets 46,985    28,717 
 

Capital and reserves 		     
Called up share capital 93    93 
Profit and loss account 46,892    28,624 
Shareholder's funds 46,985    28,717 
 


For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 May 2023 and were signed on its behalf by:


--------------------------------
Jennifer Best
Director
4
  Equity share capital   Preference share capital   Retained Earnings   Total
£ £ £ £
At 01 November 2020 91  2  40,896  40,989 
Profit for the year 33,943  33,943 
Total comprehensive income for the year -  -  33,943  33,943 
Dividends (46,215) (46,215)
Total investments by and distributions to owners -  -  (46,215) (46,215)
At 31 October 2021 91  2  28,624  28,717 
At 01 November 2021 91  2  28,624  28,717 
Profit for the year 36,180  36,180 
Total comprehensive income for the year -  -  36,180  36,180 
Dividends (17,912) (17,912)
Total investments by and distributions to owners -  -  (17,912) (17,912)
At 31 October 2022 91  2  46,892  46,985 
5
General Information
Poco Bristol Ltd is a private company, limited by shares, registered in England and Wales, registration number 07822856, registration address 45 Jamaica Street, Bristol, BS2 8JP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% & 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the year was 18 (2021 : 19).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2021 38,022    38,022 
Additions -    - 
Disposals -    - 
At 31 October 2022 38,022    38,022 
Amortisation
At 01 November 2021 38,022    38,022 
Charge for year -    - 
On disposals -    - 
At 31 October 2022 38,022    38,022 
Net book values
At 31 October 2022 -    - 
At 31 October 2021 -    - 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 November 2021 160,786    160,786 
Additions 8,946    8,946 
Disposals -    - 
At 31 October 2022 169,732    169,732 
Depreciation
At 01 November 2021 155,160    155,160 
Charge for year 4,756    4,756 
On disposals -    - 
At 31 October 2022 159,916    159,916 
Net book values
Closing balance as at 31 October 2022 9,816    9,816 
Opening balance as at 01 November 2021 5,626    5,626 


5.

Stocks

2022
£		   2021
£
Stocks 8,363    10,124 
8,363    10,124 

6.

Debtors: amounts falling due within one year

2022
£		   2021
£
Prepayments 875    380 
Other Debtors 7,500    7,980 
8,375    8,360 

7.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 5,787    9,591 
Bank Loans & Overdrafts (Secured) 0    50,000 
Corporation Tax 7,061    7,533 
PAYE & Social Security 5,792    6,202 
Accrued Expenses 1,005    3,080 
Other Creditors 2,963    9,244 
Wages & Salaries Control Account 23,148    25,995 
Directors' Current Accounts 33,750    47,733 
VAT 19,846    8,649 
99,352    168,027 

8.

Provisions for liabilities

2022
£		   2021
£
Deferred Tax 1,865    1,069 
1,865    1,069 

6