Company Registration No. 08317563 (England and Wales)
Ben's Pub Company Limited
Unaudited accounts
for the year ended 31 March 2022
Ben's Pub Company Limited
Unaudited accounts
Contents
Ben's Pub Company Limited
Company Information
for the year ended 31 March 2022
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 2022
Tangible assets
191,054
199,065
Inventories
21,723
11,566
Cash at bank and in hand
325,136
129,099
Creditors: amounts falling due within one year
(411,165)
(338,191)
Net current assets
246,037
348,896
Total assets less current liabilities
437,091
547,961
Creditors: amounts falling due after more than one year
(60,670)
(109,668)
Provisions for liabilities
Deferred tax
(21,105)
(20,657)
Net assets
355,316
417,636
Called up share capital
1
1
Profit and loss account
355,315
417,635
Shareholders' funds
355,316
417,636
For the year ending 31 March 2022 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 31 December 2022 and were signed on its behalf by
GV Lloyd-Jones
Director
Company Registration No. 08317563
Ben's Pub Company Limited
Notes to the Accounts
for the year ended 31 March 2022
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.
As a result of the COVID-19 pandemic in the last two years the company was forced to scale down its operations. During the year ended 31 March 2022 the company received government grants amounting to £178,181 (2021 - £545,971) which have been included in Gross Profit. Furthermore, as a result of a strategic review the company wrote down a loan to a connected party by £200,000 as explained in note 8.
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 2022
4
Tangible fixed assets
Total
Charge for the year
43,699
5
Share capital
2022
2021
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1
1
6
Operating lease commitments
2022
2021
At 31 March 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
1,668,793
1,812,885
National Westminster Bank plc registered a fixed and floating charge over the company's assets and undertaking on 24 February 2020. The company has bank loans of £60,670 (2021 - £70,000).
8
Transactions with related parties
Included in debtors is an amount of £216,274 (2021 - £431,814) owing by B&W Boathouse Inn Moulsford Limited, in which Mr B Smith has an interest. He was a director and the majority shareholder of this company until 30 November 2022 (see note 9). The loan is on commercial terms, but as a result of a strategic review of operations following the COVID pandemic on 9 March 2022 the company reduced the balance of the loan by waiver of obligation.
At 31 March 2022 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 30 November 2022 Mr B Smith resigned as a director of the company and he reduced his shareholding in the company from 51% to 38.75% of the issued shares.
10
Average number of employees
During the year the average number of employees was 45 (2021: 38).