PBS Restaurants Ltd 07518923 false 2023-01-01 2024-04-30 2024-04-30 The principal activity of the company is unlicensed restaurants and cafes. Digita Accounts Production Advanced 6.30.9574.0 true 07518923 2023-01-01 2024-04-30 07518923 2024-04-30 07518923 core:CurrentFinancialInstruments 2024-04-30 07518923 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07518923 core:MotorVehicles 2024-04-30 07518923 bus:SmallEntities 2023-01-01 2024-04-30 07518923 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-04-30 07518923 bus:FilletedAccounts 2023-01-01 2024-04-30 07518923 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-04-30 07518923 bus:RegisteredOffice 2023-01-01 2024-04-30 07518923 bus:Director1 2023-01-01 2024-04-30 07518923 bus:Director2 2023-01-01 2024-04-30 07518923 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-04-30 07518923 bus:Agent1 2023-01-01 2024-04-30 07518923 core:Goodwill 2023-01-01 2024-04-30 07518923 core:ComputerEquipment 2023-01-01 2024-04-30 07518923 core:MotorVehicles 2023-01-01 2024-04-30 07518923 core:PlantMachinery 2023-01-01 2024-04-30 07518923 countries:EnglandWales 2023-01-01 2024-04-30 07518923 2022-12-31 07518923 core:MotorVehicles 2022-12-31 07518923 2022-01-01 2022-12-31 07518923 2022-12-31 07518923 core:CurrentFinancialInstruments 2022-12-31 07518923 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07518923 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 07518923

PBS Restaurants Ltd

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 30 April 2024

 

PBS Restaurants Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 8

 

PBS Restaurants Ltd

Company Information

Directors

P Shaw

H Shaw

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PBS Restaurants Ltd
for the Period Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PBS Restaurants Ltd for the period ended 30 April 2024 as set out on pages 3 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of PBS Restaurants Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PBS Restaurants Ltd and state those matters that we have agreed to state to the Board of Directors of PBS Restaurants Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PBS Restaurants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PBS 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 loss of PBS Restaurants Ltd. You consider that PBS 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 PBS 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.

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

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

20 September 2024

 

PBS Restaurants Ltd

(Registration number: 07518923)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

8,063

Current assets

 

Debtors

5

1,254,622

18,332

Cash at bank and in hand

 

690,653

3,003,418

 

1,945,275

3,021,750

Creditors: Amounts falling due within one year

6

-

(796,060)

Net current assets

 

1,945,275

2,225,690

Net assets

 

1,945,275

2,233,753

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,945,175

2,233,653

Shareholders' funds

 

1,945,275

2,233,753

For the financial period ending 30 April 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 period 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.

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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

P Shaw
Director

H Shaw
Director

 
     
 

PBS Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 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:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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 current 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.

 

PBS Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024 (continued)

2

Accounting policies (continued)

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

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 statement of financial position 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:

Asset class

Depreciation method and rate

Plant,machinery and fixtures

Straight line over 10 years

Motor Vehicles

Straight line over 4 years

Computer Equipment

Straight line over 3 years

 

PBS Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024 (continued)

2

Accounting policies (continued)

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:

Asset class

Amortisation method and rate

Franchise rights

Franchise fees are also amortised over the period of the franchise agreement.

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.

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.

Leases

The company's restaurant premises are leased from the franchisor under a non-cancellable lease with an expiryterm of more than five years. The rental payments are calculated on a monthly basis and are substantially basedon annual sales income generated.

Assets obtained under hire purchase contracts or finance leases are capitalised on the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held underfinance leases are depreciated over their estimated useful lives or lease term, whichever is shorter.

The interest element of these obligations is charged to the Profit and Loss over the relevant period. The capital element of future payments is treated as a liability.

 

PBS Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024 (continued)

2

Accounting policies (continued)

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

PBS Restaurants Ltd

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 April 2024 (continued)

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

18,429

18,429

Disposals

(18,429)

(18,429)

At 30 April 2024

-

-

Depreciation

At 1 January 2023

10,366

10,366

Eliminated on disposal

(10,366)

(10,366)

At 30 April 2024

-

-

Carrying amount

At 30 April 2024

-

-

At 31 December 2022

8,063

8,063

5

Debtors

2024
£

2022
£

Other debtors

1,254,622

18,332

1,254,622

18,332

6

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Trade creditors

-

10,271

Taxation and social security

-

769,845

Accruals and deferred income

-

10,413

Other creditors

-

5,531

-

796,060