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Registered Number: 12479860
England and Wales

 

 

 

PEMBRIDGE FOOD AND WINE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 7,069   
7,069   
Current assets      
Stocks 4 5,150    13,600 
Cash at bank and in hand 40,778    9,689 
45,928    23,289 
Creditors: amount falling due within one year 5 (47,837)   (52,522)
Net current liabilities (1,909)   (29,233)
 
Total assets less current liabilities 5,160    (29,233)
Accruals and deferred income (8,528)   (23,528)
Net liabilities (3,368)   (52,761)
 

Capital and reserves
     
Called up share capital 6 2    1 
Profit and loss account (3,370)   (52,762)
Shareholder's funds (3,368)   (52,761)
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 01 December 2023 and were signed by:


-------------------------------
Noman Ejaz
Director
1
General Information
PEMBRIDGE FOOD AND WINE LTD is a private company, limited by shares, registered in England and Wales, registration number 12479860, registration address 11a Pembridge Road,, London, London, England, W11 3HQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vechicles 20%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 March 2022  
Additions 7,200    7,200 
Disposals  
At 28 February 2023 7,200    7,200 
Depreciation
At 01 March 2022  
Charge for year 131    131 
On disposals  
At 28 February 2023 131    131 
Net book values
Closing balance as at 28 February 2023 7,069    7,069 
Opening balance as at 01 March 2022  


4.

Stocks

2023
£
  2022
£
Stocks 5,150    13,600 
5,150    13,600 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   7,878 
PAYE & Social Security 812    184 
Wages & Salaries Control Account 2,010   
Directors' Current Accounts 43,421    43,228 
VAT 1,594    1,232 
47,837    52,522 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £1.00 each  
 

2