The Pony and Trap (Chew Magna) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07686748 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

THE PONY AND TRAP (CHEW MAGNA) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

C J Eggleton

G Eggleton

J Eggleton

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

07686748 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of The Pony and Trap (Chew Magna) Limited for the year ended 31 May 2017 which

comprise the Income Statement, Balance Sheet, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that The Pony and Trap (Chew Magna) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Pony and Trap (Chew Magna) Limited. You consider that The Pony and Trap (Chew Magna) 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 financial statements of The Pony and Trap (Chew Magna) 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 financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

28 February 2018

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

196,686

142,818

Investments

6

10,967

10,967

207,653

153,785

CURRENT ASSETS

Stocks

11,500

10,340

Debtors

7

107,520

80,362

Cash at bank and in hand

44,895

57,330

163,915

148,032

CREDITORS

Amounts falling due within one year

8

320,563

188,677

NET CURRENT LIABILITIES

(156,648

)

(40,645

)

TOTAL ASSETS LESS CURRENT LIABILITIES

51,005

113,140

PROVISIONS FOR LIABILITIES

10

24,415

-

NET ASSETS

26,590

113,140

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

26,490

113,040

SHAREHOLDERS' FUNDS

26,590

113,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 February 2018 and were signed on its behalf by:

C J Eggleton - Director

G Eggleton - Director

J Eggleton - Director

1.	STATUTORY INFORMATION

The Pony and Trap (Chew Magna) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of goods and services, excluding value added tax. Turnover is

recognised when the goods are sold or the service is rendered.

Goodwill

Goodwill has been fully amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

Varying rates over the life of the asset

Motor vehicles

-

25% on cost

Computer equipment

-

25% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

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 the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an assets carrying amount and the present value of estimated cash flows discounted at the

assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an assets carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Pension contribution

The company operates a defined contribution pension scheme in respect of the directors and staff.

The assets of the scheme are held separately from those of the company in an independently

administered fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2016 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

200,000

AMORTISATION

At 1 June 2016

and 31 May 2017

200,000

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2016

-

159,211

11,900

5,122

176,233

Additions

50,679

25,515

-

-

76,194

At 31 May 2017

50,679

184,726

11,900

5,122

252,427

DEPRECIATION

At 1 June 2016

-

23,964

5,950

3,501

33,415

Charge for year

-

18,946

2,975

405

22,326

At 31 May 2017

-

42,910

8,925

3,906

55,741

NET BOOK VALUE

At 31 May 2017

50,679

141,816

2,975

1,216

196,686

At 31 May 2016

-

135,247

5,950

1,621

142,818

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2016

and 31 May 2017

10,967

NET BOOK VALUE

At 31 May 2017

10,967

At 31 May 2016

10,967

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Salt & Malt Limited

Registered office: 11 Laura Place, Bath, BA2 4BL

Nature of business: Licensed restaurants

%

Class of shares:

holding

A Ordinary

100.00

2017

2016

£

£

Aggregate capital and reserves

51,531

2,493

Profit for the year

49,038

68,486

Salt and Malt 2 Limited

Registered office: 11 Laura Place, Bath, BA2 4BL

Nature of business: Licensed restaurants

%

Class of shares:

holding

Ordinary

100.00

31.5.17

31.1.17

£

£

Aggregate capital and reserves

(19,139

)

1

Loss for the period/year

(19,140

)

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

18,979

19,721

Amounts owed by group undertakings

860

18,572

Other debtors

87,681

42,069

107,520

80,362

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

-

2,639

Trade creditors

84,384

86,581

Amounts owed to group undertakings

62,866

28,967

Taxation and social security

67,080

68,465

Other creditors

106,233

2,025

320,563

188,677

9.	LEASING AGREEMENTS

At the year end the company was committed to making operating lease payments totalling £300,000.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

24,415

-

Deferred

tax

£

Provided during year

24,415

Balance at 31 May 2017

24,415

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

Ordinary A

£1

50

50

30

Ordinary B

£1

30

30

20

Ordinary C

£1

20

20

100

100

Each share is ranked pari passu.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors owed £21,631 (2016: £21,952) of which was advanced £55,961 (2016:

£38,586) and repaid of £59,331 (2016: £34,148) to The Pony and Trap (Chew Magna) Limited.

13.	RELATED PARTY DISCLOSURES

Rent of £15,883 (2015: £15,327) was paid the directors.

14.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.

15.	LEGAL CHARGES

Lloyds Bank PLC hold a fixed and floating charge on all property, plant and machinery and all other

assets owned by the company.

16.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS102. There were

no changes on transition.