2022-04-012023-03-312023-03-31falseSC442601Pb (Edinburgh) 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Pb (Edinburgh) Ltd.

Registered Number
SC442601
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2023

Pb (Edinburgh) Ltd.
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

H S Atwal

Registered Address

108 George Street
Edinburgh
EH2 4LH

Registered Number

SC442601 (Scotland)
Pb (Edinburgh) Ltd.
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets6134,556159,236
Tangible assets758,965149,495
Investments811
193,522308,732
Current assets
Stocks114,5725,615
Debtors12133,850138,582
Cash at bank and on hand26,85524,248
165,277168,445
Creditors amounts falling due within one year13(691,363)(724,883)
Net current assets (liabilities)(526,086)(556,438)
Total assets less current liabilities(332,564)(247,706)
Creditors amounts falling due after one year14(35,942)(40,000)
Net assets(368,506)(287,706)
Capital and reserves
Called up share capital11
Profit and loss account(368,507)(287,707)
Shareholders' funds(368,506)(287,706)
The financial statements were approved and authorised for issue by the Director on 16 January 2024, and are signed on its behalf by:
H S Atwal
Director
Registered Company No. SC442601
Pb (Edinburgh) Ltd.
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of a food and drink outlet.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings10
Plant and machinery10
Fixtures and fittings10
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Patents and licences are being amortised evenly over their estimated useful life of 10 years.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
Going concern
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's net liabilities exceeded its net assets by £368,504 (2022: £287,706). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
5.Employee information

20232022
Average number of employees during the year11
6.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 22220,00011,183231,183
Disposals-(3,142)(3,142)
At 31 March 23220,0008,041228,041
Amortisation and impairment
At 01 April 2265,9885,95971,947
Charge for year21,9961,05023,046
On disposals-(1,508)(1,508)
At 31 March 2387,9845,50193,485
Net book value
At 31 March 23132,0162,540134,556
At 31 March 22154,0125,224159,236
7.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 2221,112176,013207,952405,077
Disposals(4,966)(87,599)(64,427)(156,992)
At 31 March 2316,14688,414143,525248,085
Depreciation and impairment
At 01 April 2210,97381,288163,321255,582
Charge for year2,10915,45910,22127,789
On disposals(3,115)(43,143)(47,993)(94,251)
At 31 March 239,96753,604125,549189,120
Net book value
At 31 March 236,17934,81017,97658,965
At 31 March 2210,13994,72544,631149,495
8.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 2211
At 31 March 2311
Net book value
At 31 March 2311
At 31 March 2211

Notes

1Investments in group undertakings and participating interests
9.Description of financial commitments other than capital commitments
LEASING AGREEMENTS: Minimum lease payments fall due as follows: Net obligations repayable: Due within one year: £78,000 (2022: £103,000) Between two and five years: £312,000 (2022: £412,000)
10.Description of nature of transactions and balances with related parties
Included in other debtors falling due within one year are due from companies connected to the director. ST (Edinburgh) Ltd £180 (2022: £180); HWS (Edinburgh) Ltd £10,000 (2022: £10,000). Hadplaid Ltd acts as management company for PB Edinburgh Ltd. The management charges amounting to £309,778 (2022: £300,724) recorded in accounts are paid to Hadplaid Ltd. Included in other creditors falling due within one year is due to companies connected to the director. MCA Edinburgh £10,891 (2022: £10,891); Hadplaid Limited £32,388 (2022: £349,509); Nalmond Ltd £594 (2022: 594), INV Edinburgh Ltd £85,000 (2022: £0) Included in other creditors is the amount due to the close relative of the director N Atwal £220,000 (2022: £220,000)
11.Stocks

2023

2022

££
Raw materials and consumables4,5725,615
Total4,5725,615
12.Debtors

2023

2022

££
Other debtors127,560129,805
Prepayments and accrued income6,2908,777
Total133,850138,582
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables324,70648,223
Bank borrowings and overdrafts10,00043,917
Taxation and social security2,864-
Other creditors337,080614,123
Accrued liabilities and deferred income16,71318,620
Total691,363724,883
14.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts35,94240,000
Total35,94240,000
Included within other creditors falling due within one year and creditors falling due after more than one year is £45,942 (2022: £50,000) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme. The loan is repayable by March 2027 and interest is charged at 3.99% above base rate per annum on this loan. Bank loan is secured by a fixed and floating charge over present and future assets of the company.