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Registration number: 13650788

JPB Restaurants Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 December 2023

 

JPB Restaurants Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

JPB Restaurants Ltd

Company Information

Director

Mr J P Betts

Company secretary

Mrs A Betts

Registered office

32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

Accountants

Munslows Accountants Ltd
Chartered Certified Accountants
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
JPB Restaurants Ltd
for the Period Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JPB Restaurants Ltd for the period ended 31 December 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of JPB Restaurants Ltd, as a body, in accordance with the terms of our engagement letter dated 28 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of JPB Restaurants Ltd and state those matters that we have agreed to state to the Board of Directors of JPB Restaurants Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JPB Restaurants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JPB Restaurants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JPB Restaurants Ltd. You consider that JPB Restaurants Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of JPB Restaurants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Munslows Accountants Ltd
Chartered Certified Accountants
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

3 September 2024

 

JPB Restaurants Ltd

(Registration number: 13650788)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

684,919

732,047

Tangible assets

5

781,559

866,312

Other financial assets

6

6,250

5,000

 

1,472,728

1,603,359

Current assets

 

Stocks

7

99,462

65,263

Debtors

8

67,239

66,724

Cash at bank and in hand

 

1,591,754

861,706

 

1,758,455

993,693

Creditors: Amounts falling due within one year

9

(2,104,448)

(1,499,934)

Net current liabilities

 

(345,993)

(506,241)

Total assets less current liabilities

 

1,126,735

1,097,118

Creditors: Amounts falling due after more than one year

9

(853,082)

(1,037,814)

Provisions for liabilities

(100,291)

(23,491)

Net assets

 

173,362

35,813

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

173,262

35,713

Shareholders' funds

 

173,362

35,813

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 September 2024
 

 

JPB Restaurants Ltd

(Registration number: 13650788)
Balance Sheet as at 31 December 2023

.........................................
Mr J P Betts
Director

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

These financial statements were authorised for issue by the director on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 331 (2022 - 328).

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

4

Intangible assets

Goodwill
 £

Licence fees
 £

Stamp duty
 £

Total
£

Cost or valuation

At 1 October 2022

648,313

90,000

15,727

754,040

At 31 December 2023

648,313

90,000

15,727

754,040

Amortisation

At 1 October 2022

18,909

2,625

459

21,993

Amortisation charge

40,520

5,625

983

47,128

At 31 December 2023

59,429

8,250

1,442

69,121

Carrying amount

At 31 December 2023

588,884

81,750

14,285

684,919

At 30 September 2022

629,404

87,375

15,268

732,047

5

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

945,068

945,068

Additions

93,997

93,997

At 31 December 2023

1,039,065

1,039,065

Depreciation

At 1 October 2022

78,756

78,756

Charge for the period

178,750

178,750

At 31 December 2023

257,506

257,506

Carrying amount

At 31 December 2023

781,559

781,559

At 30 September 2022

866,312

866,312

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

5,000

5,000

Additions

1,250

1,250

At 31 December 2023

6,250

6,250

Impairment

Carrying amount

At 31 December 2023

6,250

6,250

7

Stocks

2023
£

2022
£

Closing stocks of food, paper and non-products

99,462

65,263

8

Debtors

Current

2023
£

2022
£

Trade debtors

8,869

19,066

Prepayments

58,370

47,658

 

67,239

66,724

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

170,417

189,000

Trade creditors

 

598,177

345,341

Taxation and social security

 

694,731

440,364

Accruals and deferred income

 

217,951

222,816

Other creditors

 

423,172

302,413

 

2,104,448

1,499,934

 

JPB Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 December 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

853,082

1,037,814

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

75

75

75

75

Ordinary B shares of £1 each

25

25

25

25

100

100

100

100

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

853,082

1,037,814

Current loans and borrowings

2023
£

2022
£

Bank borrowings

170,417

189,000