Paul Porter Limited 04293881 false 2021-10-01 2022-09-30 2022-09-30 The principal activity of the company is the running on a public house. Digita Accounts Production Advanced 6.30.9574.0 true 04293881 2021-10-01 2022-09-30 04293881 2022-09-30 04293881 bus:OrdinaryShareClass1 2022-09-30 04293881 core:RetainedEarningsAccumulatedLosses 2022-09-30 04293881 core:ShareCapital 2022-09-30 04293881 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2022-09-30 04293881 core:CurrentFinancialInstruments 2022-09-30 04293881 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 04293881 core:Goodwill 2022-09-30 04293881 core:LandBuildings core:LongLeaseholdAssets 2022-09-30 04293881 core:PlantMachinery 2022-09-30 04293881 bus:SmallEntities 2021-10-01 2022-09-30 04293881 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 04293881 bus:FullAccounts 2021-10-01 2022-09-30 04293881 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 04293881 bus:RegisteredOffice 2021-10-01 2022-09-30 04293881 bus:Director3 2021-10-01 2022-09-30 04293881 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 04293881 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 04293881 core:Goodwill 2021-10-01 2022-09-30 04293881 core:LandBuildings core:LongLeaseholdAssets 2021-10-01 2022-09-30 04293881 core:LeaseholdImprovements 2021-10-01 2022-09-30 04293881 core:PlantMachinery 2021-10-01 2022-09-30 04293881 countries:EnglandWales 2021-10-01 2022-09-30 04293881 2021-09-30 04293881 core:Goodwill 2021-09-30 04293881 core:LandBuildings core:LongLeaseholdAssets 2021-09-30 04293881 core:PlantMachinery 2021-09-30 04293881 2020-10-01 2021-09-30 04293881 2021-09-30 04293881 bus:OrdinaryShareClass1 2021-09-30 04293881 core:RetainedEarningsAccumulatedLosses 2021-09-30 04293881 core:ShareCapital 2021-09-30 04293881 core:CurrentFinancialInstruments 2021-09-30 04293881 core:CurrentFinancialInstruments core:WithinOneYear 2021-09-30 04293881 core:LandBuildings core:LongLeaseholdAssets 2021-09-30 04293881 core:PlantMachinery 2021-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04293881

Paul Porter Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2022

 

Paul Porter Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Paul Porter Limited

(Registration number: 04293881)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

-

6,676

Other financial assets

6

-

87,366

 

-

94,042

Current assets

 

Stocks

7

-

7,904

Debtors

8

102,737

133,244

Cash at bank and in hand

 

363,873

165,079

 

466,610

306,227

Creditors: Amounts falling due within one year

9

(34,795)

(56,727)

Net current assets

 

431,815

249,500

Net assets

 

431,815

343,542

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

431,814

343,541

Shareholders' funds

 

431,815

343,542

For the financial year ending 30 September 2022 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................
Miss H E E Porter
Director

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

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:
24 Garside Way
Marlborough
Wiltshire
SN8 4YR
United Kingdom

These financial statements were authorised for issue by the Board on 14 November 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 from the sale of food, beverages and the provision of accommodation from the running of a public house. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current 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.

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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

Plant and machinery

15% Straight line

Tenants improvements

10% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

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.

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.

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2021 - 10).

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2021

15,000

15,000

Disposals

(15,000)

(15,000)

At 30 September 2022

-

-

Amortisation

At 1 October 2021

15,000

15,000

Amortisation eliminated on disposals

(15,000)

(15,000)

At 30 September 2022

-

-

Carrying amount

At 30 September 2022

-

-

5

Tangible assets

Tenants Improvements
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2021

161,261

125,316

286,577

Disposals

(161,261)

(125,316)

(286,577)

At 30 September 2022

-

-

-

Depreciation

At 1 October 2021

161,260

118,641

279,901

Eliminated on disposal

(161,260)

(118,641)

(279,901)

At 30 September 2022

-

-

-

Carrying amount

At 30 September 2022

-

-

-

At 30 September 2021

1

6,675

6,676

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2021

87,366

87,366

Disposals

(87,366)

(87,366)

At 30 September 2022

-

-

Impairment

Carrying amount

At 30 September 2022

-

-

7

Stocks

2022
£

2021
£

Bar stocks

-

7,904

8

Debtors

2022
£

2021
£

Prepayments

-

2,667

Other debtors

102,737

130,577

102,737

133,244

 

Paul Porter Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

9

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

-

14,833

Taxation and social security

28,436

33,396

Accruals and deferred income

6,359

8,498

34,795

56,727

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1