Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-22falseRestaurant27falsetrue NI686788 2022-03-21 NI686788 2022-03-22 2023-03-31 NI686788 2021-04-01 2022-03-21 NI686788 2023-03-31 NI686788 c:Director1 2022-03-22 2023-03-31 NI686788 d:PlantMachinery 2022-03-22 2023-03-31 NI686788 d:PlantMachinery 2023-03-31 NI686788 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 NI686788 d:FurnitureFittings 2022-03-22 2023-03-31 NI686788 d:FurnitureFittings 2023-03-31 NI686788 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 NI686788 d:OfficeEquipment 2022-03-22 2023-03-31 NI686788 d:OfficeEquipment 2023-03-31 NI686788 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 NI686788 d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 NI686788 d:Goodwill 2022-03-22 2023-03-31 NI686788 d:Goodwill 2023-03-31 NI686788 d:CurrentFinancialInstruments 2023-03-31 NI686788 d:Non-currentFinancialInstruments 2023-03-31 NI686788 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 NI686788 d:RetainedEarningsAccumulatedLosses 2023-03-31 NI686788 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 NI686788 c:FRS102 2022-03-22 2023-03-31 NI686788 c:AuditExempt-NoAccountantsReport 2022-03-22 2023-03-31 NI686788 c:FullAccounts 2022-03-22 2023-03-31 NI686788 c:PrivateLimitedCompanyLtd 2022-03-22 2023-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2022-03-22 2023-03-31 NI686788 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-03-22 2023-03-31 NI686788 2 2022-03-22 2023-03-31 NI686788 6 2022-03-22 2023-03-31 NI686788 d:ExternallyAcquiredIntangibleAssets 2022-03-22 2023-03-31 NI686788 d:Goodwill d:OwnedIntangibleAssets 2022-03-22 2023-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-03-22 2023-03-31 iso4217:GBP xbrli:pure

Registered number: NI686788










PIPERSFIELD LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
PIPERSFIELD LTD
REGISTERED NUMBER: NI686788

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
800,877

Tangible assets
 5 
599,972

Investments
 6 
1,250

  
1,402,099

Current assets
  

Stocks
 7 
22,613

Debtors: amounts falling due within one year
 8 
25,943

Cash at bank and in hand
 9 
823,181

  
871,737

Creditors: amounts falling due within one year
 10 
(1,354,851)

Net current (liabilities)/assets
  
 
 
(483,114)

Total assets less current liabilities
  
918,985

Creditors: amounts falling due after more than one year
 11 
(833,414)

  

Net assets
  
85,571


Capital and reserves
  

Profit and loss account
  
85,571

  
85,571


Page 1

 
PIPERSFIELD LTD
REGISTERED NUMBER: NI686788

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2023.




Mr Samir Akbar
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Pipersfield Ltd is a company limited by share capital, incorporated in Northern Ireland under number NI686788.
The company's registered office is at 27-29 Gordon Street, Belfast, BT1 2LG.
The company's principal activity is operating a restaurant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
14%
- 25% straight line
Fixtures and fittings
-
14%
 - straight line
Office equipment
-
14%
 - straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2023
            No.






Employees
25



Directors
2

27

Page 6

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Intangible assets



Franchise
Goodwill
Total

£
£
£



Cost


Additions
30,000
809,347
839,347



At 31 March 2023

30,000
809,347
839,347



Amortisation


Charge for the period on owned assets
1,375
37,095
38,470



At 31 March 2023

1,375
37,095
38,470



Net book value



At 31 March 2023
28,625
772,252
800,877




5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


Additions
707,801
3,337
10,364
721,502



At 31 March 2023

707,801
3,337
10,364
721,502



Depreciation


Charge for the period on owned assets
119,738
110
1,682
121,530



At 31 March 2023

119,738
110
1,682
121,530



Net book value



At 31 March 2023
588,063
3,227
8,682
599,972

Page 7

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
1,250



At 31 March 2023
1,250





7.


Stocks

2023
£

Raw materials and consumables
22,613

22,613



8.


Debtors

2023
£


Trade debtors
13,763

Prepayments and accrued income
12,180

25,943



9.


Cash and cash equivalents

2023
£

Cash at bank and in hand
823,181

823,181


Page 8

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due within one year

2023
£

Bank loans
195,439

Other loans
300,000

Trade creditors
170,360

Other taxation and social security
191,710

Other creditors
416,993

Accruals and deferred income
80,349

1,354,851



11.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
833,414

833,414


Page 9

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
195,439

Other loans
300,000


495,439

Amounts falling due 1-2 years

Bank loans
195,439


195,439

Amounts falling due 2-5 years

Bank loans
586,318


586,318

Amounts falling due after more than 5 years

Bank loans
51,657

51,657

1,328,853



13.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
823,181




Financial assets measured at fair value through profit or loss comprise bank and cash.



Page 10

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £12,955. Contributions totalling £692  were payable to the fund at the balance sheet date and are included in creditors.

Page 11