Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-01-01falseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10532043 2023-01-01 2023-12-31 10532043 2022-01-01 2022-12-31 10532043 2023-12-31 10532043 2022-12-31 10532043 c:Director1 2023-01-01 2023-12-31 10532043 d:FurnitureFittings 2023-01-01 2023-12-31 10532043 d:FurnitureFittings 2023-12-31 10532043 d:FurnitureFittings 2022-12-31 10532043 d:Goodwill 2023-01-01 2023-12-31 10532043 d:Goodwill 2023-12-31 10532043 d:Goodwill 2022-12-31 10532043 d:FreeholdInvestmentProperty 2023-12-31 10532043 d:FreeholdInvestmentProperty 2022-12-31 10532043 d:CurrentFinancialInstruments 2023-12-31 10532043 d:CurrentFinancialInstruments 2022-12-31 10532043 d:Non-currentFinancialInstruments 2023-12-31 10532043 d:Non-currentFinancialInstruments 2022-12-31 10532043 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10532043 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10532043 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10532043 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10532043 d:ShareCapital 2023-12-31 10532043 d:ShareCapital 2022-12-31 10532043 d:RetainedEarningsAccumulatedLosses 2023-12-31 10532043 d:RetainedEarningsAccumulatedLosses 2022-12-31 10532043 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10532043 c:OrdinaryShareClass1 2023-12-31 10532043 c:OrdinaryShareClass1 2022-12-31 10532043 c:FRS102 2023-01-01 2023-12-31 10532043 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10532043 c:FullAccounts 2023-01-01 2023-12-31 10532043 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10532043 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10532043










The Pulborough Tea Room Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
The Pulborough Tea Room Ltd
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of The Pulborough Tea Room Ltd for the Year 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 financial statements of The Pulborough Tea Room Ltd for the year ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Pulborough Tea Room Ltd in accordance with the terms of our engagement letter dated 14 May 2024Our work has been undertaken solely to prepare for your approval the financial statements of The Pulborough Tea Room Ltd and state those matters that we have agreed to state to the director of The Pulborough Tea Room Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Pulborough Tea Room Ltd and its director for our work or for this report. 

It is your duty to ensure that The Pulborough Tea Room Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Pulborough Tea Room Ltd. You consider that The Pulborough Tea Room Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Pulborough Tea Room 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
2 September 2024
Page 1

 
The Pulborough Tea Room Ltd
Registered number: 10532043

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 6 
330,000
330,000

  
330,000
330,000

Current assets
  

Debtors: amounts falling due within one year
 7 
2,255
684

Cash at bank and in hand
  
56
1,609

  
2,311
2,293

Creditors: amounts falling due within one year
 8 
(1,200)
(2,250)

Net current assets
  
 
 
1,111
 
 
43

Total assets less current liabilities
  
331,111
330,043

Creditors: amounts falling due after more than one year
 9 
(430,205)
(426,800)

  

Net liabilities
  
(99,094)
(96,757)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
(99,096)
(96,759)

  
(99,094)
(96,757)


The director considers 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 the Companies Act 2006.

The director acknowledges his 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 statement of income and retained earnings 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 17 August 2024.



................................................
C P Smith
Director

The notes on pages 4 to 10 form part of these financial statements.
Page 2

 
The Pulborough Tea Room Ltd
Registered number: 10532043

Balance Sheet (continued)
As at 31 December 2023


Page 3

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

The company is a private company limited by share capital incorporated in England, within the United Kingdom. The register office is: The Pulborough Tea Room, Lower Street, Pulborough, RH20 2BW.
The financial statements are presented in Sterling and are rounded to the nearest £1.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to continue to trade is dependent upon the support of the directors and bankers. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
4 years

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 profit or loss.

  
2.6

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to
determine whether there is any indication that the assets are impaired. Where there is any indication
that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the
asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount
by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the
higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of
assessing impairment, assets are grouped at the lowest levels for which there are separately
identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed
at each balance sheet date to assess whether there is any indication that the impairment losses
recognised in prior periods may no longer exist or may have decreased.

Page 5

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
25,000



At 31 December 2023

25,000



Amortisation


At 1 January 2023
25,000



At 31 December 2023

25,000



Net book value



At 31 December 2023
-



At 31 December 2022
-




5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
4,970



At 31 December 2023

4,970



Depreciation


At 1 January 2023
4,970



At 31 December 2023

4,970



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 7

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
330,000



At 31 December 2023
330,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
340,646
340,646

340,646
340,646


7.


Debtors

2023
2022
£
£


Trade debtors
771
684

Prepayments and accrued income
1,484
-

2,255
684



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
1,200
2,250

1,200
2,250


Page 8

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
215,118
215,118

Other creditors
215,087
211,682

430,205
426,800


The following liabilities were secured:

2023
2022
£
£



Bank loans
215,118
215,118

215,118
215,118

Details of security provided:

The bank loan is guaranteed by the director's wife, S L Smith.

Page 9

 
The Pulborough Tea Room Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1 each
2
2



11.


Related party transactions

During the year S L Smith, the wife of the sole director of the company, continued to provide a loan to the company. At the year end £215,087 (2022 - £211,682) was owed to S L Smith and is included in other creditors due after more than one year.


Page 10