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COMPANY REGISTRATION NUMBER: 10481070
GQ PUBS LIMITED
Filleted Unaudited Financial Statements
30 March 2024
GQ PUBS LIMITED
Statement of Financial Position
30 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
79,818
95,090
Current assets
Debtors
6
21,399
22,439
Cash at bank and in hand
3,442
3,442
--------
--------
24,841
25,881
Creditors: amounts falling due within one year
7
193,886
194,786
---------
---------
Net current liabilities
169,045
168,905
---------
---------
Total assets less current liabilities
( 89,227)
( 73,815)
Creditors: amounts falling due after more than one year
8
339,425
339,425
---------
---------
Net liabilities
( 428,652)
( 413,240)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 428,653)
( 413,241)
---------
---------
Shareholders deficit
( 428,652)
( 413,240)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GQ PUBS LIMITED
Statement of Financial Position (continued)
30 March 2024
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr Benjamin
Director
Company registration number: 10481070
GQ PUBS LIMITED
Notes to the Financial Statements
Year ended 30 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House, Townsend Lane, London, NW9 8TZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
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.
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. 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
-
10% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: Nil).
5. Tangible assets
Short leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 31 March 2023 and 30 March 2024
139,104
36,337
4,179
179,620
---------
--------
-------
---------
Depreciation
At 31 March 2023
49,459
31,688
3,383
84,530
Charge for the year
13,911
1,162
199
15,272
---------
--------
-------
---------
At 30 March 2024
63,370
32,850
3,582
99,802
---------
--------
-------
---------
Carrying amount
At 30 March 2024
75,734
3,487
597
79,818
---------
--------
-------
---------
At 30 March 2023
89,645
4,649
796
95,090
---------
--------
-------
---------
6. Debtors
2024
2023
£
£
Other debtors
21,399
22,439
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
899
Amounts owed to group undertakings and undertakings in which the company has a participating interest
5,990
5,991
Other creditors
187,896
187,896
---------
---------
193,886
194,786
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
339,425
339,425
---------
---------
9. Related party transactions
GQ Pubs Limited and Roxy Bars and Leisure Limited related parties by virtue of common directorship. All transactions with these companies were made at arm's length. The amount owed by GQ Pubs Limited to Roxy Bars and Leisure Limited as at year ended 30-03-2022 was £5,990.60.