Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr Euan Dunn 04/09/2008 Mrs Angela Dunn 04/09/2008 31 October 2023 The principal activity of the Company during the financial period was the management of its own restaurants and franchising of restaurant businesses. SC065276 2023-04-30 SC065276 bus:Director1 2023-04-30 SC065276 bus:Director2 2023-04-30 SC065276 2022-04-30 SC065276 core:CurrentFinancialInstruments 2023-04-30 SC065276 core:CurrentFinancialInstruments 2022-04-30 SC065276 core:ShareCapital 2023-04-30 SC065276 core:ShareCapital 2022-04-30 SC065276 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC065276 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC065276 core:LandBuildings 2022-04-30 SC065276 core:PlantMachinery 2022-04-30 SC065276 core:Vehicles 2022-04-30 SC065276 core:LandBuildings 2023-04-30 SC065276 core:PlantMachinery 2023-04-30 SC065276 core:Vehicles 2023-04-30 SC065276 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 SC065276 core:ImmediateParent core:CurrentFinancialInstruments 2022-04-30 SC065276 core:DeferredTaxation 2023-04-30 SC065276 core:DeferredTaxation 2022-04-30 SC065276 core:OtherProvisionsContingentLiabilities 2023-04-30 SC065276 core:OtherProvisionsContingentLiabilities 2022-04-30 SC065276 2021-04-30 SC065276 bus:OrdinaryShareClass1 2023-04-30 SC065276 core:WithinOneYear 2023-04-30 SC065276 core:WithinOneYear 2022-04-30 SC065276 core:BetweenOneFiveYears 2023-04-30 SC065276 core:BetweenOneFiveYears 2022-04-30 SC065276 core:MoreThanFiveYears 2023-04-30 SC065276 core:MoreThanFiveYears 2022-04-30 SC065276 core:ImmediateParent 2023-04-30 SC065276 core:ImmediateParent 2022-04-30 SC065276 core:KeyManagementPersonnel 2023-04-30 SC065276 core:KeyManagementPersonnel 2022-04-30 SC065276 2022-05-01 2023-04-30 SC065276 bus:FullAccounts 2022-05-01 2023-04-30 SC065276 bus:SmallEntities 2022-05-01 2023-04-30 SC065276 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC065276 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC065276 bus:Director1 2022-05-01 2023-04-30 SC065276 bus:Director2 2022-05-01 2023-04-30 SC065276 core:LandBuildings core:BottomRangeValue 2022-05-01 2023-04-30 SC065276 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 SC065276 core:PlantMachinery 2022-05-01 2023-04-30 SC065276 core:Vehicles core:TopRangeValue 2022-05-01 2023-04-30 SC065276 2021-05-01 2022-04-30 SC065276 core:LandBuildings 2022-05-01 2023-04-30 SC065276 core:Vehicles 2022-05-01 2023-04-30 SC065276 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 SC065276 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC065276 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 SC065276 core:KeyManagementPersonnel 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC065276 (Scotland)

PANCAKE PLACE LIMITED (THE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

PANCAKE PLACE LIMITED (THE)

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

PANCAKE PLACE LIMITED (THE)

BALANCE SHEET

AS AT 30 APRIL 2023
PANCAKE PLACE LIMITED (THE)

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 14,372 23,639
14,372 23,639
Current assets
Stocks 4 12,000 7,000
Debtors 5 34,897 27,726
Cash at bank and in hand 6 275,181 371,744
322,078 406,470
Creditors: amounts falling due within one year 7 ( 195,848) ( 297,252)
Net current assets 126,230 109,218
Total assets less current liabilities 140,602 132,857
Provision for liabilities 8, 9 ( 31,357) ( 33,700)
Net assets 109,245 99,157
Capital and reserves
Called-up share capital 10 75,000 75,000
Profit and loss account 34,245 24,157
Total shareholder's funds 109,245 99,157

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pancake Place Limited (The) (registered number: SC065276) were approved and authorised for issue by the Director on 31 October 2023. They were signed on its behalf by:

Mrs Angela Dunn
Director
PANCAKE PLACE LIMITED (THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PANCAKE PLACE LIMITED (THE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pancake Place Limited (The) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, Scotland, United Kingdom.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 - 25 years straight line
Plant and machinery 15 % reducing balance
Vehicles 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 65 60

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 May 2022 292,668 526,808 128,060 947,536
At 30 April 2023 292,668 526,808 128,060 947,536
Accumulated depreciation
At 01 May 2022 292,668 523,170 108,059 923,897
Charge for the financial year 0 546 8,721 9,267
At 30 April 2023 292,668 523,716 116,780 933,164
Net book value
At 30 April 2023 0 3,092 11,280 14,372
At 30 April 2022 0 3,638 20,001 23,639

4. Stocks

2023 2022
£ £
Stocks 12,000 7,000

5. Debtors

2023 2022
£ £
Amounts owed by Parent undertakings (note 12) 0 27,726
Corporation tax 31,601 0
Other debtors 3,296 0
34,897 27,726

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 275,181 371,744

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 41,962
Trade creditors 39,582 63,361
Corporation tax 50,090 85,464
Other taxation and social security 76,637 26,038
Other creditors 29,539 80,427
195,848 297,252

Amounts included as bank loans relate to the bounce back loan scheme and are fully backed by a Government Guarantee.

8. Provision for liabilities

2023 2022
£ £
Deferred tax 3,357 5,700
Other provisions 28,000 28,000
31,357 33,700

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 5,700) ( 4,003)
Credited/(charged) to the Statement of Income and Retained Earnings 2,343 ( 1,697)
At the end of financial year ( 3,357) ( 5,700)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
75,000 Ordinary shares shares of £ 1.00 each 75,000 75,000

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 129,500 129,500
between one and five years 518,000 518,000
after five years 388,500 518,000
1,036,000 1,165,500

12. Related party transactions

Transactions with group companies

Amounts owed by Parent undertakings

2023 2022
£ £
Loan 0 27,726

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

2023 2022
£ £
Directors Loan 375 0

Amounts owed to directors

2023 2022
£ £
Directors Loan 0 7,933

Advances have been made in the year to the Directors totalling £9,931 Repayments of £1,623 have been made. The amounts owed are unsecured and repayable on demand.