Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-01truefalseThe principal activity of the company in the year under review was that of a public house.trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05297145 2022-12-01 2023-11-30 05297145 2021-12-01 2022-11-30 05297145 2023-11-30 05297145 2022-11-30 05297145 c:Director1 2022-12-01 2023-11-30 05297145 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 05297145 d:Buildings d:ShortLeaseholdAssets 2023-11-30 05297145 d:Buildings d:ShortLeaseholdAssets 2022-11-30 05297145 d:MotorVehicles 2022-12-01 2023-11-30 05297145 d:MotorVehicles 2023-11-30 05297145 d:MotorVehicles 2022-11-30 05297145 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05297145 d:FurnitureFittings 2022-12-01 2023-11-30 05297145 d:FurnitureFittings 2023-11-30 05297145 d:FurnitureFittings 2022-11-30 05297145 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05297145 d:OfficeEquipment 2022-12-01 2023-11-30 05297145 d:OfficeEquipment 2023-11-30 05297145 d:OfficeEquipment 2022-11-30 05297145 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05297145 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05297145 d:CurrentFinancialInstruments 2023-11-30 05297145 d:CurrentFinancialInstruments 2022-11-30 05297145 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05297145 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 05297145 d:ShareCapital 2023-11-30 05297145 d:ShareCapital 2022-11-30 05297145 d:OtherMiscellaneousReserve 2023-11-30 05297145 d:OtherMiscellaneousReserve 2022-11-30 05297145 d:RetainedEarningsAccumulatedLosses 2023-11-30 05297145 d:RetainedEarningsAccumulatedLosses 2022-11-30 05297145 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-11-30 05297145 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 05297145 c:OrdinaryShareClass1 2022-12-01 2023-11-30 05297145 c:OrdinaryShareClass1 2023-11-30 05297145 c:OrdinaryShareClass1 2022-11-30 05297145 c:FRS102 2022-12-01 2023-11-30 05297145 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05297145 c:FullAccounts 2022-12-01 2023-11-30 05297145 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05297145










Lovely Pubs Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 November 2023

 
Lovely Pubs Limited
Registered number: 05297145

Balance sheet
As at 30 November 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
100,707
55,583

  
100,707
55,583

Current assets
  

Stocks
 5 
25,270
19,301

Debtors: amounts falling due within one year
 6 
817,206
772,961

Cash at bank and in hand
 7 
1,037,387
592,064

  
1,879,863
1,384,326

Creditors: amounts falling due within one year
 8 
(387,732)
(299,974)

Net current assets
  
 
 
1,492,131
 
 
1,084,352

Total assets less current liabilities
  
1,592,838
1,139,935

  

Net assets
  
1,592,838
1,139,935


Capital and reserves
  

Called up share capital 
  
1,002
1,002

Other reserves
  
500
500

Profit and loss account
  
1,591,336
1,138,433

  
1,592,838
1,139,935

Page 1

 
Lovely Pubs Limited
Registered number: 05297145

Balance sheet (continued)
As at 30 November 2023

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 year in question in accordance with section 476 of 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 profit and loss account 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 15 August 2024.








Ms R C Mottram
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

1.


General information

Lovely Pubs Limited is a private company limited by shares incorporated and domiciled in England and Wales. The company's registered number, registered address and the principal place of business are disclosed on Company information page. The principal activity of the company in the year under review was that of a public house.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

Page 3

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates 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 the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over 5 years
Motor vehicles
-
25% on reducing value
Fixtures and fittings
-
15% on reducing value
Office equipment
-
25% on reducing value

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 the Profit and loss account.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

Page 4

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2022 - 29).

Page 5

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2022
6,299
63,375
100,188
159,073
328,935


Additions
-
54,184
7,849
7,592
69,625


Disposals
-
(30,945)
-
-
(30,945)



At 30 November 2023

6,299
86,614
108,037
166,665
367,615



Depreciation


At 1 December 2022
6,299
52,546
86,419
128,088
273,352


Charge for the year on owned assets
-
8,517
3,243
9,644
21,404


Disposals
-
(27,848)
-
-
(27,848)



At 30 November 2023

6,299
33,215
89,662
137,732
266,908



Net book value



At 30 November 2023
-
53,399
18,375
28,933
100,707



At 30 November 2022
-
10,829
13,769
30,985
55,583


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
25,270
19,301

25,270
19,301


Page 6

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,334
1,978

Amounts owed by group undertakings
791,522
710,836

Other debtors
6,495
40,524

Prepayments and accrued income
17,855
19,623

817,206
772,961



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,037,387
592,064

1,037,387
592,064



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
58,364
54,888

Corporation tax
199,688
137,326

Other taxation and social security
100,032
64,996

Other creditors
23,648
9,053

Accruals and deferred income
6,000
33,711

387,732
299,974



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,037,387
592,064





10.


Share capital

2023
2022
£
£
Page 7

 
Lovely Pubs Limited
 

 
Notes to the financial statements
For the Year Ended 30 November 2023

10.Share capital (continued)

Allotted, called up and fully paid



1,002 (2022 - 1,002) Ordinary shares of £1.00 each
1,002
1,002


11.


Pension commitments

The Company operates 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 £44,386 (2022 - £44,418) Contributions totalling £246 (2022 - £302) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

The company is a fully owned subsidiary of Lovely Holdings Limited, a company in which the directors, Ms R Mottram and Mr D Ridler hold 100% of the issued share capital.
During the year the company advanced loans totalling 206,679 and made rental payments of £160,600 to Lovely Holdings Limited. Each transaction took place at arm's length basis and at prevailing market rates At the balance sheet date incuded in Debtors under amounts owed by group undertakings was a balance of £791,522 (2022: £710,836) due from Lovely Holdings Limited.
                                       .                                                                                                                                                                    At the balance sheet date included in Creditors under other creditors were loans from the directors Ms R Mottram of £Nil (2022: £36,149 DR) and Mr D Ridler of £Nil (2022: £Nil). These loans are interest free and repayable on demand.
During the year Lovely Holdings Limited received dividends totalling £200,000 (2022: £150,000).
 


Page 8