Company Registration No. 08317563 (England and Wales)
Ben's Pub Company Limited
Unaudited accounts
for the year ended 31 March 2020
Ben's Pub Company Limited
Unaudited accounts
Contents
Ben's Pub Company Limited
Company Information
for the year ended 31 March 2020
Directors
B Smith
GV Lloyd-Jones
Company Number
08317563 (England and Wales)
Registered Office
Newton House
Northampton Science Park
Northampton
NN3 6LG
Ben's Pub Company Limited
Statement of financial position
as at
31 March 2020
Tangible assets
219,510
265,233
Inventories
15,563
38,388
Cash at bank and in hand
71,495
440,366
Creditors: amounts falling due within one year
(385,120)
(416,516)
Net current assets
195,868
196,215
Total assets less current liabilities
415,378
461,448
Provisions for liabilities
Deferred tax
(22,503)
(29,222)
Net assets
392,875
432,226
Called up share capital
1
1
Profit and loss account
392,874
432,225
Shareholders' funds
392,875
432,226
For the year ending 31 March 2020 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 22 February 2021 and were signed on its behalf by
B Smith
Director
Company Registration No. 08317563
Ben's Pub Company Limited
Notes to the Accounts
for the year ended 31 March 2020
Ben's Pub Company Limited is a private company, limited by shares, registered in England and Wales, registration number 08317563. The registered office is Newton House, Northampton Science Park, Northampton, NN3 6LG.
2
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 company has been forced to scale down its operations as a result of the COVID-19 pandemic. At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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 represents the value of goods provided to customers in the normal course of business, excluding Value Added Tax and other sales related taxes,
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over life of lease
Ben's Pub Company Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Total
Charge for the year
63,361
5
Deferred taxation
2020
2019
Accelerated capital allowances
22,503
29,222
Provision at start of year
29,222
34,759
Credited to the profit and loss account
(6,719)
(5,537)
Provision at end of year
22,503
29,222
6
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1
1
7
Operating lease commitments
2020
2019
At 31 March 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
1,956,980
2,230,400
National Westminster Bank plc registered a fixed and floating charge over the company's assets and undertaking on 24 February 2020. The company had no obligations to the bank at that time.
9
Transactions with related parties
Included in debtors is a loan of £375,105 (2019 - £Nil) owing by B&W Boathouse Inn Moulsford Limited, which is owned and controlled by Mr B Smith, a director and the majority shareholder of this company. The loan is on commercial terms.
Ben's Pub Company Limited
Notes to the Accounts
for the year ended 31 March 2020
The directors, Mr B Smith and Mr GV Lloyd-Jones, who held office during the period had beneficial interests in 51 shares and 12 shares respectively of the issued £0.01 ordinary shares at 31 March 2018. Accordingly the company is controlled by Mr B Smith.
11
Average number of employees
During the year the average number of employees was 48 (2019: 49).