Registered number: 13516980
THE PELICAN PUB W11 LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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THE PELICAN PUB W11 LTD
REGISTERED NUMBER:13516980
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STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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THE PELICAN PUB W11 LTD
REGISTERED NUMBER:13516980
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2022
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
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 30 January 2024.
The notes on pages 3 to 9 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
The Pelican Pub W11 Ltd is a private limited liability company incorporated in England and Wales. Its registered office and business address is 39a Tavistock Road, London, W11 1AR.
The principal activity of the company is the operation of a licenced bar and restaurant.
The company was incorporated on 19 July 2021 and started trading on the same date.
The company's functional and presentational currency is £ sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company made a loss during the year and has net current liabilities and net liabilities. The financial statements of the company have been prepared on a going concern basis, the validity of which is dependant on the continued support of the shareholders . The shareholders are satisfied that suitable facilities will continue to be made available for at least twelve months from the date of approval of these financial statements and that the company will be able to meet its working capital requirements for the foreseeable future.
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue from provision of food and beverages is recognised in the period the goods and services are provided.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
2.Accounting policies (continued)
The Company contributes to 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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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.
The estimated useful lives range as follows:
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.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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Short-term leasehold property
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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.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each reporting 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.
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Basic financial instruments
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The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractua obligation is discharged, cancelled or expires.
Cash and cash equivalents comprise of cash in hand and bank balances.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
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The average monthly number of employees, including directors, during the period was 35.
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Charge for the period on owned assets
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
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Short-term leasehold property
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Charge for the period on owned assets
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Charge for the period on financed assets
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Prepayments and accrued income
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Obligations under finance leases are secured by way of a charge over the assets of the company and contain fixed charged, floating charge and negative pledge.
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Obligations under finance leases are secured by way of a charge over the assets of the company and contain fixed charged, floating charge and negative pledge.
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2022
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Allotted, called up and fully paid
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100 Ordinary shares of £1.00 each
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100 ordinary shares were issued at par in current period.
The company contributes to 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 £4,274. Contributions totalling £3,026 were payable to the fund at the reporting date.
The company's parent undertaking is 45 All Saints Limited, a company incorporated in England and Wales.
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