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REGISTERED NUMBER: 05195958 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2023

for

GRAND IMPERIAL LIMITED

GRAND IMPERIAL LIMITED (Registered number: 05195958)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GRAND IMPERIAL LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTORS: B C Ainsworth
Alastair J Southey





REGISTERED OFFICE: SKS BUSINESS SERVICES LTD
3 Sheen Road, Richmond Upon Thames
England
United Kingdom
TW9 1AD





REGISTERED NUMBER: 05195958 (England and Wales)





ACCOUNTANTS: SKS Business Services Ltd
3 Sheen Road
Richmond Upon Thames
Surrey
TW9 1AD

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 4,376 6,876
Tangible assets 6 60,925 66,615
65,301 73,491

CURRENT ASSETS
Stocks 7 13,835 9,825
Debtors 8 100,843 83,915
Cash at bank and in hand 20,267 31,092
134,945 124,832
CREDITORS
Amounts falling due within one year 9 (189,794 ) (118,082 )
NET CURRENT (LIABILITIES)/ASSETS (54,849 ) 6,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,452

80,241

CREDITORS
Amounts falling due after more than one
year

10

(45,567

)

(49,684

)

PROVISIONS FOR LIABILITIES 11 (11,425 ) (12,472 )
NET (LIABILITIES)/ASSETS (46,540 ) 18,085

CAPITAL AND RESERVES
Called up share capital 12 10 10
Retained earnings 13 (46,550 ) 18,075
SHAREHOLDERS' FUNDS (46,540 ) 18,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Statement of Financial Position - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





Alastair J Southey - Director


GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

GRAND IMPERIAL LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

DISCLOSURE EXEMPTIONS
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) Disclosures in respect of share-based payments have not been presented.
(e) No disclosure has been given for the aggregate remuneration of key management personnel.

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates

Tangible assets.

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.


GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property - 4% on cost
Fixtures, fittings and equipment - 10% on cost
Computer equipment - 50% on cost

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 50,000
AMORTISATION
At 1 December 2022 43,124
Amortisation for year 2,500
At 30 November 2023 45,624
NET BOOK VALUE
At 30 November 2023 4,376
At 30 November 2022 6,876

6. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold P&M fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 56,733 60,381 22,063 2,870 142,047
Additions - - 3,062 240 3,302
Reclassification/transfer 22,177 - - - 22,177
At 30 November 2023 78,910 60,381 25,125 3,110 167,526
DEPRECIATION
At 1 December 2022 37,026 52,484 6,317 1,782 97,609
Charge for year 2,217 884 2,300 683 6,084
Reclassification/transfer 2,908 - - - 2,908
At 30 November 2023 42,151 53,368 8,617 2,465 106,601
NET BOOK VALUE
At 30 November 2023 36,759 7,013 16,508 645 60,925
At 30 November 2022 19,707 7,897 15,746 1,088 44,438

7. STOCKS
2023 2022
£    £   
Finished goods 13,835 9,825

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,001 11,714
Amounts owed by group undertakings 53,250 52,530
Other debtors 10,587 10,587
Loan Costa M Theo - 720
Deferred Expenses 9,005 8,364
100,843 83,915

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other Creditor 8,031 10,563
Trade creditors 126,041 76,563
Corporation tax (2,241 ) (2,241 )
Social security and other tax 9,813 5,228
Pension payable 116 125
Loan from Theo 12,000 -
VAT 21,361 15,312
Wages Control account - 472
Directors' loan accounts 11,173 11,371
Accruals and deferred income 3,500 -
Accrued expenses - 689
189,794 118,082

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce Back Loan 45,567 49,684

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 11,425 12,472

Deferred
tax
£   
Balance at 1 December 2022 12,472
Credit to Income Statement during year (1,047 )
Balance at 30 November 2023 11,425

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary Shares 1 10 10

GRAND IMPERIAL LIMITED (Registered number: 05195958)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

13. RESERVES
Retained
earnings
£   

At 1 December 2022 18,075
Deficit for the year (64,625 )
At 30 November 2023 (46,550 )

14. RELATED PARTY DISCLOSURES

At the balance sheet date, included in creditor were amounts totalling £11,173 payable (2022: £11, 371payable) to Alastair John Southey- Director

At the balance sheet date Grand Imperial Limited owed £53,250.00 (2022: £52,530.00) by Future Pub Co. Limited in which Alastair John Southey is director.

15. ULTIMATE CONTROLLING PARTY

Future Pub Co Limited, which is holding company of Grand Imperial is controlling party jointly with Directors.

16. GOING CONCERN

The directors are willing to support the company financially for the foreseeable future and therefore confirm that the company remains a going concern in the foreseeable future.