Pococks Assets Limited 11749241 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is managing a public house Digita Accounts Production Advanced 6.30.9574.0 true 11749241 2022-02-01 2023-01-31 11749241 2023-01-31 11749241 bus:OrdinaryShareClass1 2023-01-31 11749241 bus:OrdinaryShareClass2 2023-01-31 11749241 bus:OrdinaryShareClass3 2023-01-31 11749241 bus:OrdinaryShareClass4 2023-01-31 11749241 core:CurrentFinancialInstruments 2023-01-31 11749241 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11749241 core:Non-currentFinancialInstruments 2023-01-31 11749241 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 11749241 core:FurnitureFittingsToolsEquipment 2023-01-31 11749241 core:LandBuildings 2023-01-31 11749241 core:MotorVehicles 2023-01-31 11749241 bus:SmallEntities 2022-02-01 2023-01-31 11749241 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 11749241 bus:FullAccounts 2022-02-01 2023-01-31 11749241 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 11749241 bus:RegisteredOffice 2022-02-01 2023-01-31 11749241 bus:Director1 2022-02-01 2023-01-31 11749241 bus:Director2 2022-02-01 2023-01-31 11749241 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 11749241 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 11749241 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 11749241 bus:OrdinaryShareClass4 2022-02-01 2023-01-31 11749241 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11749241 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 11749241 core:LandBuildings 2022-02-01 2023-01-31 11749241 core:LeaseholdImprovements 2022-02-01 2023-01-31 11749241 core:MotorVehicles 2022-02-01 2023-01-31 11749241 core:OfficeEquipment 2022-02-01 2023-01-31 11749241 countries:EnglandWales 2022-02-01 2023-01-31 11749241 2022-01-31 11749241 core:FurnitureFittingsToolsEquipment 2022-01-31 11749241 core:LandBuildings 2022-01-31 11749241 core:MotorVehicles 2022-01-31 11749241 2021-02-01 2022-01-31 11749241 2022-01-31 11749241 bus:OrdinaryShareClass1 2022-01-31 11749241 bus:OrdinaryShareClass2 2022-01-31 11749241 bus:OrdinaryShareClass3 2022-01-31 11749241 bus:OrdinaryShareClass4 2022-01-31 11749241 core:CurrentFinancialInstruments 2022-01-31 11749241 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 11749241 core:Non-currentFinancialInstruments 2022-01-31 11749241 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 11749241 core:FurnitureFittingsToolsEquipment 2022-01-31 11749241 core:LandBuildings 2022-01-31 11749241 core:MotorVehicles 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11749241

Pococks Assets Limited

trading as The Grapes

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Pococks Assets Limited

trading as The Grapes

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Pococks Assets Limited

trading as The Grapes

Company Information

Directors

J Leiper

E Leiper-Gill

Registered office

The Grapes
Westgate Street
Bath
Bath and North East Somerset
BA1 1EQ

Accountants

GMSM Accounting Limited
Chartered Certified Accountants
4 The Stable Block
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

Pococks Assets Limited

trading as The Grapes

(Registration number: 11749241)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

59,339

75,010

Current assets

 

Stocks

5

15,000

6,003

Debtors

6

126,966

32,166

Cash at bank and in hand

 

108,575

69,373

 

250,541

107,542

Creditors: Amounts falling due within one year

7

(150,970)

(112,604)

Net current assets/(liabilities)

 

99,571

(5,062)

Total assets less current liabilities

 

158,910

69,948

Creditors: Amounts falling due after more than one year

7

(23,285)

(32,934)

Provisions for liabilities

(11,868)

(7,952)

Net assets

 

123,757

29,062

Capital and reserves

 

Called up share capital

8

180

180

Retained earnings

123,577

28,882

Shareholders' funds

 

123,757

29,062

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 June 2023 and signed on its behalf by:
 

 

Pococks Assets Limited

trading as The Grapes

(Registration number: 11749241)
Balance Sheet as at 31 January 2023

.........................................
E Leiper-Gill
Director

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
The Grapes
Westgate Street
Bath
Bath and North East Somerset
BA1 1EQ
England and Wales

These financial statements were authorised for issue by the Board on 12 June 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Leasehold improvements

20% straight line basis

Fixtures and fittings

15% straight line basis

Office equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 17).

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

69,062

41,137

5,378

115,577

Additions

-

4,377

-

4,377

At 31 January 2023

69,062

45,514

5,378

119,954

Depreciation

At 1 February 2022

30,189

8,380

1,998

40,567

Charge for the year

12,185

6,531

1,332

20,048

At 31 January 2023

42,374

14,911

3,330

60,615

Carrying amount

At 31 January 2023

26,688

30,603

2,048

59,339

At 31 January 2022

38,873

32,757

3,380

75,010

Included within the net book value of land and buildings above is £26,688 (2022 - £38,873) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

15,000

6,003

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

41,935

-

Prepayments

 

17,875

16,987

Other debtors

 

67,156

15,179

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

10,648

10,648

Trade creditors

 

56,540

62,864

Taxation and social security

 

56,641

25,036

Accruals and deferred income

 

7,766

10,483

Other creditors

 

19,375

3,573

 

150,970

112,604

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

23,285

32,934

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

60

60

60

60

Ordinary B shares of £1 each

60

60

60

60

Ordinary C shares of £1 each

30

30

30

30

Ordinary D shares of £1 each

30

30

30

30

 

180

180

180

180

 

Pococks Assets Limited

trading as The Grapes

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

23,285

32,934

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,648

10,648