Company registration number 11555679 (England and Wales)
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,345
17,365
Current assets
Stocks
12,359
11,142
Debtors
4
24,333
75,509
Cash at bank and in hand
68,875
73,658
105,567
160,309
Creditors: amounts falling due within one year
5
(377,287)
(391,842)
Net current liabilities
(271,720)
(231,533)
Net liabilities
(252,375)
(214,168)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(252,475)
(214,268)
Total equity
(252,375)
(214,168)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 30 October 2024
Mr S D Edgson
Director
Company registration number 11555679 (England and Wales)
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

El Pastor CDY Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Old Hall, Main Street, Market Overton, Rutland, LE15 7PL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Going concern

The company meets its day to day working capital requirements via funding from related group companies. The related companies have given assurances that they will continue to support the company by such means and that they will not call on these loans until the company has sufficient financial resources to pay them. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by the related companies.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of VAT. Turnover comprises the sale of food and beverages and is recognised at the point of sale.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% per annum of net book value
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

 

Bank loans are initially measured at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The company has taxable losses of £247,845 (2022 - £200,789) available for carry forward against future taxable trading profits. Due to the uncertainty over the timing of future taxable trading profits, a deferred tax asset has not been recognised in these financial statements in respect of these losses.

1.9
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

1.12
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.

EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
12
12
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 August 2022
36,900
Additions
6,321
At 31 July 2023
43,221
Depreciation and impairment
At 1 August 2022
19,535
Depreciation charged in the year
4,341
At 31 July 2023
23,876
Carrying amount
At 31 July 2023
19,345
At 31 July 2022
17,365
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,069
10,953
Corporation tax recoverable
-
0
18,310
Amounts owed by group undertakings
-
0
40,405
Other debtors
134
-
0
Prepayments and accrued income
15,130
5,841
24,333
75,509
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
55,291
73,874
Trade creditors
15,243
36,636
Amounts owed to group undertakings
16,873
22,033
Taxation and social security
7,153
33,360
Other creditors
129,472
75,619
Accruals and deferred income
153,255
150,320
377,287
391,842
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Audit report information

As the profit and loss account has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

The senior statutory auditor was John Griffin FCCA and the auditor was Newby Castleman LLP.
EL PASTOR CDY LTD
(FORMERLY THE DROP WINE BAR LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
8
Parent company

The parent undertaking for which consolidated accounts are prepared is El Pastor Limited, a company registered in England and Wales. Consolidated accounts are publicly available from Companies House, Cardiff.

 

The registered address of El Pastor Limited is the same as the company's registered office address as given in the company information page of these financial statements.

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