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Registration number: 12432000

E&P Endeavours Limited

trading as The Cherry Tree

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2024

 

E&P Endeavours Limited

trading as The Cherry Tree

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

E&P Endeavours Limited

trading as The Cherry Tree

Company Information

Directors

ACL Edge

A J Pye

Registered office

8 Cherry Tree Lane
Great Houghton
Northamptonshire
NN4 7AT

Accountants

Inn Control Hospitality Accountants Limited
10 Cheyne Walk
Northamptonshire
England
NN1 5PT

 

E&P Endeavours Limited

trading as The Cherry Tree

(Registration number: 12432000)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

28,685

11,158

Current assets

 

Stocks

5

17,821

11,622

Cash at bank and in hand

 

13,696

16,525

 

31,517

28,147

Prepayments and accrued income

 

2,654

987

Creditors: Amounts falling due within one year

(136,242)

(95,073)

Net current liabilities

 

(102,071)

(65,939)

Total assets less current liabilities

 

(73,386)

(54,781)

Accruals and deferred income

 

(4,242)

(8,537)

Net liabilities

 

(77,628)

(63,318)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(77,728)

(63,418)

Shareholders' deficit

 

(77,628)

(63,318)

 

E&P Endeavours Limited

trading as The Cherry Tree

(Registration number: 12432000)
Abridged Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
A J Pye
Director

 

E&P Endeavours Limited

trading as The Cherry Tree

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
8 Cherry Tree Lane
Great Houghton
Northamptonshire
NN4 7AT
England and Wales

These financial statements were authorised for issue by the Board on 17 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 abridged 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 abridged 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

In preparing these financial statements, the directors have assessed the ability of the company to continue to operate for the period of at least twelve months from the date of signing the financial statements.

Based on the current position the directors have a reasonable expectation that the company has adequate resources to continue in operational existence, along with the financial support of its director, for a period of at least twelve months from the date of signing these financial statements and accordingly they adopt the going concern basis in preparing these financial statements.

 

E&P Endeavours Limited

trading as The Cherry Tree

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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:

 

E&P Endeavours Limited

trading as The Cherry Tree

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Furniture & Fixtures

15% straight line method

Plant and machinery

15% reducing balance

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.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

E&P Endeavours Limited

trading as The Cherry Tree

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

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 directors) during the year, was 22 (2023 - 20).

 

E&P Endeavours Limited

trading as The Cherry Tree

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

15,935

-

15,935

Additions

21,295

500

21,795

At 31 January 2024

37,230

500

37,730

Depreciation

At 1 February 2023

4,777

-

4,777

Charge for the year

4,249

19

4,268

At 31 January 2024

9,026

19

9,045

Carrying amount

At 31 January 2024

28,204

481

28,685

At 31 January 2023

11,158

-

11,158

5

Stocks

2024
£

2023
£

Other inventories

17,821

11,622