Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseRestaurant140105true NI686788 2023-04-01 2024-03-31 NI686788 2022-03-22 2023-03-31 NI686788 2024-03-31 NI686788 2023-03-31 NI686788 c:Director1 2023-04-01 2024-03-31 NI686788 d:PlantMachinery 2023-04-01 2024-03-31 NI686788 d:PlantMachinery 2024-03-31 NI686788 d:PlantMachinery 2023-03-31 NI686788 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI686788 d:FurnitureFittings 2023-04-01 2024-03-31 NI686788 d:FurnitureFittings 2024-03-31 NI686788 d:FurnitureFittings 2023-03-31 NI686788 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI686788 d:OfficeEquipment 2023-04-01 2024-03-31 NI686788 d:OfficeEquipment 2024-03-31 NI686788 d:OfficeEquipment 2023-03-31 NI686788 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI686788 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 NI686788 d:Goodwill 2023-04-01 2024-03-31 NI686788 d:Goodwill 2024-03-31 NI686788 d:Goodwill 2023-03-31 NI686788 d:CurrentFinancialInstruments 2024-03-31 NI686788 d:CurrentFinancialInstruments 2023-03-31 NI686788 d:Non-currentFinancialInstruments 2024-03-31 NI686788 d:Non-currentFinancialInstruments 2023-03-31 NI686788 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 NI686788 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 NI686788 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 NI686788 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 NI686788 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 NI686788 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 NI686788 d:ShareCapital 2024-03-31 NI686788 d:ShareCapital 2023-03-31 NI686788 d:RetainedEarningsAccumulatedLosses 2024-03-31 NI686788 d:RetainedEarningsAccumulatedLosses 2023-03-31 NI686788 c:FRS102 2023-04-01 2024-03-31 NI686788 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI686788 c:FullAccounts 2023-04-01 2024-03-31 NI686788 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI686788 2 2023-04-01 2024-03-31 NI686788 6 2023-04-01 2024-03-31 NI686788 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 NI686788 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 NI686788 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: NI686788










PIPERSFIELD LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PIPERSFIELD LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PIPERSFIELD LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pipersfield Ltd for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Accountants Irelandwe are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

It is your duty to ensure that Pipersfield Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pipersfield Ltd. You consider that Pipersfield Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Pipersfield 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 financial statements.

  



UHY Hacker Young Fitch
 
Suite 2.06
Custom House
Custom House Square
Belfast
BT1 3ET
1 November 2024
Page 1

 
PIPERSFIELD LTD
REGISTERED NUMBER: NI686788

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
758,910
800,877

Tangible assets
 5 
477,516
599,972

Investments
 6 
329,250
1,250

  
1,565,676
1,402,099

Current assets
  

Stocks
 7 
17,340
22,613

Debtors: amounts falling due within one year
 8 
33,159
26,043

Cash at bank and in hand
 9 
688,298
823,181

  
738,797
871,837

Creditors: amounts falling due within one year
 10 
(628,702)
(1,323,332)

Net current assets/(liabilities)
  
 
 
110,095
 
 
(451,495)

Total assets less current liabilities
  
1,675,771
950,604

Creditors: amounts falling due after more than one year
 11 
(1,259,656)
(864,933)

  

Net assets
  
416,115
85,671


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
416,015
85,571

  
416,115
85,671


Page 2

 
PIPERSFIELD LTD
REGISTERED NUMBER: NI686788

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 November 2024.




Mr Samir Akbar
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Pipersfield Ltd is a company limited by share capital, incorporated in Northern Ireland under number NI686788.
The company's registered office is at Custom House, Custom House Square, Belfast, BT1 3ET.
The company's principal activity is operating a restaurant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
14%
- 25% straight line
Fixtures and fittings
-
14%
 - straight line
Office equipment
-
14%
 - straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
138
103



Directors
2
2

140
105


4.


Intangible assets




Franchise
Goodwill
Total

£
£
£



Cost


At 1 April 2023
30,000
809,347
839,347



At 31 March 2024

30,000
809,347
839,347



Amortisation


At 1 April 2023
1,375
37,095
38,470


Charge for the year on owned assets
1,500
40,467
41,967



At 31 March 2024

2,875
77,562
80,437



Net book value



At 31 March 2024
27,125
731,785
758,910



At 31 March 2023
28,625
772,252
800,877


Page 7

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
           4.Intangible assets (continued)



5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
707,801
3,337
10,364
721,502


Additions
3,021
-
11,974
14,995



At 31 March 2024

710,822
3,337
22,338
736,497



Depreciation


At 1 April 2023
119,738
110
1,682
121,530


Charge for the year on owned assets
134,344
477
2,630
137,451



At 31 March 2024

254,082
587
4,312
258,981



Net book value



At 31 March 2024
456,740
2,750
18,026
477,516



At 31 March 2023
588,063
3,227
8,682
599,972


6.


Fixed asset investments





Unlisted investments
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 April 2023
1,250
-
1,250


Additions
-
328,000
328,000



At 31 March 2024
1,250
328,000
329,250




Page 8

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Stocks

2024
2023
£
£

Raw materials and consumables
17,340
22,613

17,340
22,613



8.


Debtors

2024
2023
£
£


Trade debtors
14,651
13,763

Called up share capital not paid
100
100

Prepayments and accrued income
18,408
12,180

33,159
26,043



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
688,298
823,181

688,298
823,181



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
163,920
163,920

Other loans
-
300,000

Trade creditors
171,479
170,360

Other taxation and social security
193,376
191,710

Other creditors
10,561
416,993

Accruals and deferred income
89,366
80,349

628,702
1,323,332


Page 9

 
PIPERSFIELD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
725,585
864,933

Other creditors
534,071
-

1,259,656
864,933



12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
163,920
163,920

Other loans
-
300,000


163,920
463,920

Amounts falling due 1-2 years

Bank loans
163,920
163,920


163,920
163,920

Amounts falling due 2-5 years

Bank loans
491,760
491,760


491,760
491,760

Amounts falling due after more than 5 years

Bank loans
69,905
209,253

69,905
209,253

889,505
1,328,853



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £36,786 (2023 : £12,955). Contributions totalling £2,191 (2023 : £692)  were payable to the fund at the balance sheet date and are included in creditors.


Page 10