Company Registration No. 10450977 (England and Wales)
The Painters Arms Ltd
Unaudited accounts
for the year ended 30 October 2021
The Painters Arms Ltd
Unaudited accounts
Contents
The Painters Arms Ltd
Company Information
for the year ended 30 October 2021
Director
Donal Francis Kilcommons
Company Number
10450977 (England and Wales)
Registered Office
12E MANOR ROAD
LONDON
N16 5SA
ENGLAND
Accountants
Brian G. Lonis & Co Ltd
Accountants & Business Consultants
12E Manor Road
London
N16 5SA
The Painters Arms Ltd
Statement of financial position
as at 30 October 2021
Tangible assets
8,917
7,209
Cash at bank and in hand
60,503
48,366
Creditors: amounts falling due within one year
(156,349)
(117,072)
Net current assets
39,810
46,324
Total assets less current liabilities
48,727
53,533
Creditors: amounts falling due after more than one year
(49,897)
(50,000)
Net (liabilities)/assets
(1,170)
3,533
Called up share capital
100
100
Profit and loss account
(1,270)
3,433
Shareholders' funds
(1,170)
3,533
For the year ending 30 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 October 2022 and were signed on its behalf by
Donal Francis Kilcommons
Director
Company Registration No. 10450977
The Painters Arms Ltd
Notes to the Accounts
for the year ended 30 October 2021
The Painters Arms Ltd is a private company, limited by shares, registered in England and Wales, registration number 10450977. The registered office is 12E MANOR ROAD, LONDON, N16 5SA, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing balance method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The Painters Arms Ltd
Notes to the Accounts
for the year ended 30 October 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
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Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Amounts due from group undertakings etc.
131,992
108,370
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
23,564
3,256
Amounts owed to group undertakings and other participating interests
44,112
59,062
Taxes and social security
3,886
6,295
Loans from directors
80,059
45,959
The Painters Arms Ltd
Notes to the Accounts
for the year ended 30 October 2021
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Creditors: amounts falling due after more than one year
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
At the balance sheet date, where the director Donal Francis Kilcommons held controlling interests.
The amount due from Meet & Greet Pubs & Bars Ltd £85,492, The Dove Pubs & Bars Ltd £32,500,
The Garland Pub Company Ltd £6,000, George and Dragon (Cambs) Ltd £5,000, The Hastings Pub and Dining Co Ltd £3,000 and the amounts owed to GAA Bars Limited £12,000, Coys Pubs & Bars Ltd £1,000, M&G Sky and Utilities Ltd £4,000.
At the balance sheet date, were the director held controlling interests, the company owed the director £80,059.
The company's ultimate controlling party is that of Donal Francis Kilcommons by virtue of his ownership of 100% of the issued share capital in the company.
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Average number of employees
During the year the average number of employees was 1 (2020: 1).
