Pimlico Pub Company Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05097147 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

PIMLICO PUB COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Elliott

Mr P Evangelow

REGISTERED OFFICE:

10 London Mews

London

LONDON

W2 1HY

REGISTERED NUMBER:

05097147 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

LONDON

W2 1HY

FIXED ASSETS

Intangible assets

4

2,000

3,000

Tangible assets

5

1,202

1,352

3,202

4,352

CURRENT ASSETS

Stocks

6,000

6,000

Debtors

6

14,390

17,277

Cash at bank and in hand

12,446

79,641

32,836

102,918

CREDITORS

Amounts falling due within one year

7

97,631

152,047

NET CURRENT LIABILITIES

(64,795

)

(49,129

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(61,593

)

(44,777

)

CREDITORS

Amounts falling due after more than one year

8

29,923

39,691

NET LIABILITIES

(91,516

)

(84,468

)

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

(91,716

)

(84,668

)

SHAREHOLDERS' FUNDS

(91,516

)

(84,468

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:

Mr S Elliott - Director

1.	STATUTORY INFORMATION

Pimlico 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.

At the balance sheet date the company has a net deficit and is reliant on the continued support of its creditors.The directors considers the going concern basis to be appropriate and therefore the financial statements do not include any adjustments that might result from the withdrawal of support from the creditors.

Turnover

Turnover represents net invoiced sale of goods, excluding value added tax.

Rendering of services

Sales are recognised once the customer has agreed to purchase the goods and payment is taken.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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.

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

-

25% reducing balance

Government grants

Following the Covid 19 shut down the company is entitled to claim from the Coronavirus Job Retention Scheme. The income is included in the accounts when the costs are incurred on an accrued basis.

The company has received grants from Westminster County Council and these are accounted for on the date of receipt.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

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.

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 year was 9 (2021 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2021

and 31 August 2022

20,000

AMORTISATION

At 1 September 2021

17,000

Amortisation for year

1,000

At 31 August 2022

18,000

NET BOOK VALUE

At 31 August 2022

2,000

At 31 August 2021

3,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 September 2021

and 31 August 2022

750

69,521

70,271

DEPRECIATION

At 1 September 2021

-

68,919

68,919

Charge for year

-

150

150

At 31 August 2022

-

69,069

69,069

NET BOOK VALUE

At 31 August 2022

750

452

1,202

At 31 August 2021

750

602

1,352

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Other debtors

14,390

17,277

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

9,767

9,527

Trade creditors

14,654

10,798

Taxation and social security

13,862

15,938

Other creditors

59,348

115,784

97,631

152,047

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans

29,923

39,691

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

200

200

10.	RELATED PARTY DISCLOSURES