Pretarchi Limited - Period Ending 2023-02-28

Pretarchi Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Pretarchi Limited

Company Information

Directors

Mr I R Faley-Black Mrs S J Faley-Black

Registered office

6 Houndiscombe Road Plymouth Devon PL4 6HH

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pretarchi Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pretarchi Limited for the year ended 28 February 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pretarchi Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pretarchi Limited and state those matters that we have agreed to state to the Board of Directors of Pretarchi Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pretarchi Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pretarchi Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pretarchi Limited. You consider that Pretarchi Limited 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 Pretarchi Limited. 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.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

30 November 2023

Pretarchi Limited

(Registration number: 08878390)
Balance Sheet as at 28 February 2023

	Note	2023 £	2022 £
Fixed assets
Intangible assets	4	10,000	16,000
Tangible assets	5	528,620	547,172
		538,620	563,172
Current assets
Stocks		4,950	4,500
Debtors	6	27,636	13,777
Cash at bank and in hand		8,579	9,857
		41,165	28,134
Creditors: Amounts falling due within one year	7	(1,171,589)	(1,167,004)
Net current liabilities		(1,130,424)	(1,138,870)
Net liabilities		(591,804)	(575,698)
Capital and reserves
Called up share capital		100	100
Retained earnings		(591,904)	(575,798)
Shareholders' deficit		(591,804)	(575,698)

Pretarchi Limited

(Registration number: 08878390)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 November 2023 and signed on its behalf by:
 

.........................................

Mr I R Faley-Black

Director

Pretarchi Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
The Craft House
5 Elliot Street
Plymouth
Devon
PL1 2PP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance
These financial statements have been prepared using the historic cost convention. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Going concern

The accounts have been prepared on a going concern basis as the directors continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.

Revenue recognition

Turnover primarily comprises the fair value of the consideration received for the provision of hotel accomodation services in the ordinary course of the company's activities. turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the services are provided.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% straight line

Pretarchi Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Fixtures & fittings	20% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance
Plant & equipment	20% reducing balance
Freehold land	No depreciation

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Stocks

Stocks are stated at the lower of cost incurred and estimated selling price, of the food, beverages and consumables purchased for resale. Stock is valued on a first in first out basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 March 2022	60,000	60,000
At 28 February 2023	60,000	60,000
Amortisation
At 1 March 2022	44,000	44,000
Amortisation charge	6,000	6,000
At 28 February 2023	50,000	50,000
Carrying amount
At 28 February 2023	10,000	10,000
At 28 February 2022	16,000	16,000

Pretarchi Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

	2023 £	2022 £
Trade debtors	26,731	12,164
Prepayments	-	116
Other debtors	905	1,497
	27,636	13,777

7

Creditors

	2023 £	2022 £
Due within one year
Trade creditors	98	5,252
Taxation and social security	-	1,660
Accruals and deferred income	29,873	13,654
Other creditors	1,141,618	1,146,438
	1,171,589	1,167,004