The Pier (Aberdeen) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC549512 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2023

for

The Pier (Aberdeen) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

M McAuley

REGISTERED OFFICE:

Victoria House

13 Victoria Street

ABERDEEN

AB10 1XB

REGISTERED NUMBER:

SC549512 (Scotland)

ACCOUNTANTS:

Atholl Scott

Victoria House

13 Victoria Street

ABERDEEN

AB10 1XB

FIXED ASSETS

Tangible assets

4

62,067

23,556

CURRENT ASSETS

Stocks

8,420

10,713

Debtors

5

390,847

395,419

Cash at bank and in hand

351,803

244,749

751,070

650,881

CREDITORS

Amounts falling due within one year

6

(190,723

)

(143,650

)

NET CURRENT ASSETS

560,347

507,231

TOTAL ASSETS LESS CURRENT LIABILITIES

622,414

530,787

PROVISIONS FOR LIABILITIES

(11,792

)

(4,475

)

NET ASSETS

610,622

526,312

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

610,621

526,311

610,622

526,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 12 December 2023 and were signed by:

M McAuley - Director

1.	STATUTORY INFORMATION

The Pier (Aberdeen) Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2022

34,496

25,359

-

7,404

67,259

Additions

1,145

-

52,035

-

53,180

At 30 September 2023

35,641

25,359

52,035

7,404

120,439

DEPRECIATION

At 1 October 2022

22,130

16,984

-

4,589

43,703

Charge for year

6,068

2,230

5,878

493

14,669

At 30 September 2023

28,198

19,214

5,878

5,082

58,372

NET BOOK VALUE

At 30 September 2023

7,443

6,145

46,157

2,322

62,067

At 30 September 2022

12,366

8,375

-

2,815

23,556

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Loan - Bridge House Café

1,921

1,637

Loan - Watermelon Group

388,228

388,228

Prepayments

698

5,554

390,847

395,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade creditors

19,042

18,551

Tax

14,989

33,363

PAYE

3,943

4,774

VAT

35,525

33,333

Loan - McAuley (Aberdeen)

74,127

28,367

Loan - Cafe Ahoy

11,433

1,277

Accrued expenses

31,664

23,985

190,723

143,650

7.	LEASING AGREEMENTS

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

30.9.23

30.9.22

£

£

Within one year

40,000

40,000

Between one and five years

160,000

160,000

In more than five years

160,000

200,000

360,000

400,000

8.	ULTIMATE CONTROLLING PARTY

M McAuley is the ultimate controlling party by virtue of his 100% shareholding in the holding company.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report in accordance with the requirements of the Institute of Financial Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

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

Atholl Scott

Victoria House

13 Victoria Street

ABERDEEN

AB10 1XB

12 December 2023