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Registered number: 12097292
Mint Public House Ltd
Financial Statements
For The Year Ended 31 July 2023
One Plus One Ltd
34/36 Fore Street
Bovey Tracey
Devon
TQ13 9AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12097292
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,233 1,742
1,233 1,742
CURRENT ASSETS
Stocks 5 21,000 10,500
Debtors 6 2,798 3,113
Cash at bank and in hand 19,182 21,506
42,980 35,119
Creditors: Amounts Falling Due Within One Year 7 (40,588 ) (27,842 )
NET CURRENT ASSETS (LIABILITIES) 2,392 7,277
TOTAL ASSETS LESS CURRENT LIABILITIES 3,625 9,019
Creditors: Amounts Falling Due After More Than One Year 8 (31,382 ) (41,730 )
NET LIABILITIES (27,757 ) (32,711 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (27,857 ) (32,811 )
SHAREHOLDERS' FUNDS (27,757) (32,711)
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Gilley
Director
22 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mint Public House Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12097292 . The registered office is The Old Temperance House, 34/36 Fore Street, Bovey Tracey, Devon, TQ13 9AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 13 10
14 11
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 959 1,523 2,482
As at 31 July 2023 959 1,523 2,482
Depreciation
As at 1 August 2022 108 632 740
Provided during the period 128 381 509
As at 31 July 2023 236 1,013 1,249
Net Book Value
As at 31 July 2023 723 510 1,233
As at 1 August 2022 851 891 1,742
5. Stocks
2023 2022
£ £
Finished goods 21,000 10,500
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors (42 ) -
Prepayments and accrued income 2,840 3,113
2,798 3,113
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 9,330 3,778
Other taxes and social security 476 260
VAT 6,824 3,815
Net wages 697 1,026
NEST 264 196
Other creditor - 171
Director's loan account 22,997 18,596
40,588 27,842
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 31,382 41,730
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Page 5
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loan from the director:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr Simon Gilley 18,596 - 4,401 - 22,997
The above loan is unsecured, interest free and repayable on demand.
11. Dividends
Page 5