Pump Street Limited
t/a Pump Street Chocolate
Annual Report and Unaudited Financial Statements
For the year ended 30 April 2023
Pages for filing with Registrar
Company Registration No. 08062770 (England and Wales)
Pump Street Limited
t/a Pump Street Chocolate
Company Information
Directors
C Brennan
J Brennan
Company number
08062770
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Business address
22 Wilton Way
Bentwaters Parks
Woodbridge
Suffolk
IP12 2TW
Pump Street Limited
t/a Pump Street Chocolate
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Pump Street Limited
t/a Pump Street Chocolate
Balance Sheet
As at 30 April 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
53,825
35,036
Tangible assets
4
638,499
651,311
692,324
686,347
Current assets
Stock
5
346,336
325,654
Debtors
6
219,492
467,351
Cash at bank and in hand
120,836
48,423
686,664
841,428
Creditors: amounts falling due within one year
7
(287,684)
(231,075)
Net current assets
398,980
610,353
Total assets less current liabilities
1,091,304
1,296,700
Creditors: amounts falling due after more than one year
8
(1,543)
(17,630)
Net assets
1,089,761
1,279,070
Capital and reserves
Called up share capital
10
1,002,000
1,002,000
Profit and loss reserves
87,761
277,070
Total equity
1,089,761
1,279,070
Pump Street Limited
t/a Pump Street Chocolate
Balance Sheet (Continued)
As at 30 April 2023
Page 2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 January 2024 and are signed on its behalf by:
C Brennan
Director
Company Registration No. 08062770
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements
For the year ended 30 April 2023
Page 3
1
Accounting policies
Company information

Pump Street Limited is a private company limited by shares domiciled & incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website Development
10% Straight Line
Other intangibles
10% Straight Line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery              5%-25% Straight Line
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
1
Accounting policies
(Continued)
Page 4

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.

1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
39
27
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 5
3
Intangible fixed assets
Website development and other intangible assets
£
Cost
At 1 May 2022
65,567
Additions
25,940
At 30 April 2023
91,507
Amortisation and impairment
At 1 May 2022
30,531
Amortisation charged for the year
7,151
At 30 April 2023
37,682
Carrying amount
At 30 April 2023
53,825
At 30 April 2022
35,036
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
1,005,627
Additions
105,685
At 30 April 2023
1,111,312
Depreciation and impairment
At 1 May 2022
354,316
Depreciation charged in the year
118,497
At 30 April 2023
472,813
Carrying amount
At 30 April 2023
638,499
At 30 April 2022
651,311
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 6
5
Stock
2023
2022
£
£
Stock
346,336
325,654
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
86,696
82,787
Amounts owed by group undertakings
-
0
256,951
Other debtors
85,355
80,913
Prepayments and accrued income
47,441
46,700
219,492
467,351
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
68,530
113,713
Amounts owed to group undertakings
86,003
-
0
Taxation and social security
12,224
18,804
Other creditors
115,679
89,821
Accruals and deferred income
5,248
8,737
287,684
231,075
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,543
17,630
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 7
9
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
23,345
35,530
In two to five years
1,543
17,630
24,888
53,160

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,002,000 Ordinary shares of £1 each
1,002,000
1,002,000
11
Controlling party

The ultimate controlling party is C Brennan, a director.

12
Related party transactions

Included within debtors and creditors at year end were balances of £18,277 (2022: £11,305) and £43,071 (2022: £71) respectively owed to the directors. The loans are unsecured, non-interest bearing and repayable on demand.

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