Company Registration No. 08317563 (England and Wales)
Ben's Pub Company Limited
Unaudited accounts
for the year ended 31 March 2023
Ben's Pub Company Limited
Unaudited accounts
Contents
Ben's Pub Company Limited
Company Information
for the year ended 31 March 2023
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 2023
Tangible assets
257,468
191,054
Cash at bank and in hand
64,987
325,136
Creditors: amounts falling due within one year
(377,293)
(411,165)
Net current (liabilities)/assets
(97,590)
246,037
Total assets less current liabilities
159,878
437,091
Creditors: amounts falling due after more than one year
(49,469)
(60,670)
Provisions for liabilities
Deferred tax
(7,955)
(21,105)
Net assets
102,454
355,316
Called up share capital
1
1
Profit and loss account
102,453
355,315
Shareholders' funds
102,454
355,316
For the year ending 31 March 2023 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.
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 and authorised for issue on 13 July 2023 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 2023
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 three years the company was forced to scale down its operations. During the year ended 31 March 2023 the company received government grants amounting to £39,075 (2022 - £178,181) which have been included in Gross Profit.
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 2023
4
Tangible fixed assets
Total
Charge for the year
36,048
5
Deferred taxation
2023
2022
Accelerated capital allowances
24,595
21,105
Tax losses carried forward
(16,640)
-
Provision at start of year
21,105
20,657
(Credited)/charged to the profit and loss account
(13,150)
448
Provision at end of year
7,955
21,105
Allotted, called up and fully paid:
80 Ordinary shares of £0.01 each
0.80
1.00
7
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
1,524,701
1,668,793
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 £49,469 (2022 - £60,670).
Ben's Pub Company Limited
Notes to the Accounts
for the year ended 31 March 2023
9
Transactions with related parties
Included in debtors is an amount of £94,312 (2022 - £216,274) 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, held office and 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. There is now no controlling party.
11
Average number of employees
During the year the average number of employees was 43 (2022: 45).