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Registration number: 07929672

Dartford Pub Co Ltd

trading as Malt Shovel

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Dartford Pub Co Ltd

trading as Malt Shovel

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Dartford Pub Co Ltd

trading as Malt Shovel

Company Information

Director

Mrs A C H Boot

Registered office

1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB

Accountants

The Pub Experts Ltd
1st Floor
143 Connaught Avenue
Frinton-On-Sea
Essex
CO13 9AB

 

Dartford Pub Co Ltd

trading as Malt Shovel

(Registration number: 07929672)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

4,343

4,826

Current assets

 

Stocks

5

5,084

3,569

Cash at bank and in hand

 

15,106

9,422

 

20,190

12,991

Creditors: Amounts falling due within one year

6

(74,332)

(42,712)

Net current liabilities

 

(54,142)

(29,721)

Net liabilities

 

(49,799)

(24,895)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(49,800)

(24,896)

Shareholders' deficit

 

(49,799)

(24,895)

 

Dartford Pub Co Ltd

trading as Malt Shovel

(Registration number: 07929672)
Balance Sheet as at 31 January 2022

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 May 2022
 

.........................................
Mrs A C H Boot
Director

 

Dartford Pub Co Ltd

trading as Malt Shovel

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB

These financial statements were authorised for issue by the director on 9 May 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date, the company's liabilities exceeded its assets. The director has guaranteed their financial support to the company for the foreseeable future.

On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Dartford Pub Co Ltd

trading as Malt Shovel

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dartford Pub Co Ltd

trading as Malt Shovel

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2021 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2021

6,144

6,144

At 31 January 2022

6,144

6,144

Depreciation

At 1 February 2021

1,318

1,318

Charge for the year

483

483

At 31 January 2022

1,801

1,801

Carrying amount

At 31 January 2022

4,343

4,343

At 31 January 2021

4,826

4,826

 

Dartford Pub Co Ltd

trading as Malt Shovel

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

5

Stocks

2022
£

2021
£

Finished goods and goods for resale

5,084

3,569

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

2,593

-

Trade creditors

 

32,226

9,690

Taxation and social security

 

21,063

15,768

Other creditors

 

18,450

17,254

 

74,332

42,712