Portobello Pub Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11741149 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

24TH DECEMBER 2018 TO 31ST JANUARY 2020

FOR

PORTOBELLO PUB COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R P Stringer

R H Jenkins

REGISTERED OFFICE:

1st Floor

10 Sabre Close

Quedgeley

Gloucester

Gloucestershire

GL2 4NZ

REGISTERED NUMBER:

11741149 (England and Wales)

FIXED ASSETS

Tangible assets

4

200,585

CURRENT ASSETS

Stocks

11,755

Debtors

5

15,516

Cash at bank and in hand

57,967

85,238

CREDITORS

Amounts falling due within one year

6

196,563

NET CURRENT LIABILITIES

(111,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

89,260

CAPITAL AND RESERVES

Called up share capital

8

150,001

Retained earnings

(60,741

)

SHAREHOLDERS' FUNDS

89,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st December 2020 and were signed on its behalf by:

R P Stringer - Director

1.	STATUTORY INFORMATION

Portobello 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.

The financial statements are presented in £ Sterling which is the functional currency of the company and rounded to the nearest £.

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 the revenue generated by the company's operating activities, excluding 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.

Short leasehold

-

over the length of the lease

Plant and machinery

-

20% on cost

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was 14 .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

Additions

202,625

13,978

216,603

At 31st January 2020

202,625

13,978

216,603

DEPRECIATION

Charge for period

13,222

2,796

16,018

At 31st January 2020

13,222

2,796

16,018

NET BOOK VALUE

At 31st January 2020

189,403

11,182

200,585

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

15

Other debtors

15,501

15,516

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

2,611

Taxation and social security

22,534

Other creditors

171,418

196,563

7.	LEASING AGREEMENTS

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

£

Within one year

120,000

Between one and five years

318,750

In more than five years

1,081,250

1,520,000

This relates to leases on the premises of the business.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

150,001

Ordinary

£1

150,001

150,001 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.