Registered number
07429912
AJH Pubs Ltd
Filleted Accounts
30 November 2023
AJH Pubs Ltd
Registered number: 07429912
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 404,165 240,427
Current assets
Stocks 31,636 28,879
Debtors 5 187,231 213,393
Cash at bank and in hand 66,163 147,083
285,030 389,355
Creditors: amounts falling due within one year 6 (518,533) (457,654)
Net current liabilities (233,503) (68,299)
Total assets less current liabilities 170,662 172,128
Creditors: amounts falling due after more than one year 7 (64,680) (25,859)
Provisions for liabilities (13,199) (11,181)
Net assets 92,783 135,088
Capital and reserves
Called up share capital 104 104
Profit and loss account 92,679 134,984
Shareholders' funds 92,783 135,088
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anouska Andreou
Director
Approved by the board on 4 April 2024
AJH Pubs Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle 25% Reducing balance method
Plant and machinery 10% Reducing balance method
Fixtures & Fittings 10% Reducing balance method
Land and Buildings - leasehold 10 years, straight line method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 48 43
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 90,818
At 30 November 2023 90,818
Amortisation
At 1 December 2022 90,818
At 30 November 2023 90,818
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 335,219 107,821 9,189 452,229
Additions 156,493 18,548 - 175,041
At 30 November 2023 491,712 126,369 9,189 627,270
Depreciation
At 1 December 2022 153,637 50,202 7,963 211,802
Charge for the year 3,381 7,616 306 11,303
At 30 November 2023 157,018 57,818 8,269 223,105
Net book value
At 30 November 2023 334,694 68,551 920 404,165
At 30 November 2022 181,582 57,619 1,226 240,427
5 Debtors 2023 2022
£ £
Trade debtors 3,334 3,120
Other debtors 183,897 210,273
187,231 213,393
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 36,596 28,017
Taxation and social security costs 58,952 51,167
Other creditors 412,985 368,470
518,533 457,654
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,875 25,859
Other creditors 48,805 -
64,680 25,859
8 Basis of preparation
At the period end, the company’s balance sheet showed net current liabilities of £233,503 (2022: £68,299). This includes £374,502 (2022: £355,321) payable to Mrs H A Dingle & Mrs A Andreou, directors. The directors have indicated that they will continue to support the company financially until such time that it can afford to repay him. On this basis, the directors feel it is appropriate that the accounts are prepared on a going concern basis.
9 Related party transactions
At the period end, the company owed £374,502 (2022: £355,321) to Mrs H A Dingle & Mrs A Andreou, directors. The loan is interest free and repayable on demand.
10 Controlling party
The company is ultimately controlled by Mrs H A Dingle & Mrs A Andreou, directors, who own 100% of the issued voting share capital.
11 Other information
AJH Pubs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
TR1 3AG
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