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Registered number: 08337438
PATTENS PUB LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
PLS Management
Pls Management
44 Richmond Road
Kingston Upon Thames
KT2 5EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08337438
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,573 2,732
1,573 2,732
CURRENT ASSETS
Stocks 5 5,600 2,300
Debtors 6 3,701 4,457
Investments 7 5,665 5,665
Cash at bank and in hand 46,649 87,915
61,615 100,337
Creditors: Amounts Falling Due Within One Year 8 (46,301 ) (45,319 )
NET CURRENT ASSETS (LIABILITIES) 15,314 55,018
TOTAL ASSETS LESS CURRENT LIABILITIES 16,887 57,750
Creditors: Amounts Falling Due After More Than One Year 9 (17,000 ) (20,000 )
NET (LIABILITIES)/ASSETS (113 ) 37,750
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (213 ) 37,650
SHAREHOLDERS' FUNDS (113) 37,750
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Holly Hayward
Director
18/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PATTENS PUB LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08337438 . The registered office is 5 London Road,, Rainham, , Gillingham,, Kent,, ME8 7RG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 4,065 11,907 235 16,207
As at 31 December 2023 4,065 11,907 235 16,207
Depreciation
As at 1 January 2023 3,299 9,941 235 13,475
Provided during the period - 393 766 1,159
As at 31 December 2023 3,299 10,334 1,001 14,634
Net Book Value
As at 31 December 2023 766 1,573 (766 ) 1,573
As at 1 January 2023 766 1,966 - 2,732
5. Stocks
2023 2022
£ £
Finished goods 5,600 2,300
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 3,701 4,457
7. Current Asset Investments
2023 2022
£ £
Short term deposits 5,665 5,665
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 14,761 10,935
Bank loans and overdrafts 740 766
Corporation tax (103 ) 103
Other taxes and social security 8,030 12,716
VAT 2,686 139
Net wages 3,855 4,360
Other creditors 3,804 3,804
Accruals and deferred income 2,125 2,443
Director's loan account 10,403 10,053
46,301 45,319
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Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 17,000 20,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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