A J P (The Hour Glass) Ltd 05095155 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of a public house and restaurant Digita Accounts Production Advanced 6.30.9574.0 true true 05095155 2023-05-01 2024-04-30 05095155 2024-04-30 05095155 core:CurrentFinancialInstruments 2024-04-30 05095155 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 05095155 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 05095155 core:FurnitureFittings 2024-04-30 05095155 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 05095155 1 2024-04-30 05095155 bus:SmallEntities 2023-05-01 2024-04-30 05095155 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05095155 bus:FilletedAccounts 2023-05-01 2024-04-30 05095155 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05095155 bus:RegisteredOffice 2023-05-01 2024-04-30 05095155 bus:Director1 2023-05-01 2024-04-30 05095155 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05095155 core:FurnitureFittings 2023-05-01 2024-04-30 05095155 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 05095155 core:LandBuildings 2023-05-01 2024-04-30 05095155 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05095155 core:LeaseholdImprovements 2023-05-01 2024-04-30 05095155 countries:EnglandWales 2023-05-01 2024-04-30 05095155 1 2023-05-01 2024-04-30 05095155 2023-04-30 05095155 core:FurnitureFittings 2023-04-30 05095155 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 05095155 1 2023-04-30 05095155 2022-05-01 2023-04-30 05095155 2023-04-30 05095155 core:CurrentFinancialInstruments 2023-04-30 05095155 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 05095155 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 05095155 core:FurnitureFittings 2023-04-30 05095155 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 05095155 1 2023-04-30 05095155 1 2022-05-01 2023-04-30 05095155 1 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 05095155

A J P (The Hour Glass) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

A J P (The Hour Glass) Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

A J P (The Hour Glass) Ltd

(Registration number: 05095155)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

208,190

213,228

Investment property

5

245,000

245,000

 

453,190

458,228

Current assets

 

Debtors

-

2,576

Cash at bank and in hand

 

7,111

9,504

 

7,111

12,080

Creditors: Amounts falling due within one year

6

(37,386)

(47,083)

Net current liabilities

 

(30,275)

(35,003)

Total assets less current liabilities

 

422,915

423,225

Creditors: Amounts falling due after more than one year

6

(247,800)

(247,800)

Provisions for liabilities

(39,617)

(39,632)

Net assets

 

135,498

135,793

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

135,398

135,693

Shareholders' funds

 

135,498

135,793

For the financial year 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 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.

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 7 October 2024 and signed on its behalf by:
 

 

A J P (The Hour Glass) Ltd

(Registration number: 05095155)
Statement of Financial Position as at 30 April 2024 (continued)


Mr J S Slade
Director

 

A J P (The Hour Glass) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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:
The Iron Bridge
11 St Davids Hill
Exeter
Devon
EX4 3RG

Principal activity

The principal activity of the company is that of a public house and restaurant

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 financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

A J P (The Hour Glass) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 and 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.

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

Freehold property

2% straight line

Short leasehold property

10% straight line

 

A J P (The Hour Glass) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Fittings fixtures and equipment

25% straight line

Impairment

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

A J P (The Hour Glass) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2023

247,734

8,345

256,079

At 30 April 2024

247,734

8,345

256,079

Depreciation

At 1 May 2023

34,684

8,167

42,851

Charge for the year

4,955

83

5,038

At 30 April 2024

39,639

8,250

47,889

Carrying amount

At 30 April 2024

208,095

95

208,190

At 30 April 2023

213,050

178

213,228

5

Investment properties

2024
£

At 1 May

245,000

At 30 April

245,000

There has been no valuation of investment property by an independent valuer.

 

A J P (The Hour Glass) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

198

3,266

Taxation and social security

1,109

407

Accruals and deferred income

2,176

2,500

Other creditors

33,903

40,910

37,386

47,083

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

247,800

247,800

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. This reserve contains accumulated undistributable reserves totalling £173,056.

8

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Director

(40,911)

7,009

(33,902)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Director

(57,036)

16,125

(40,911)