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Registration number: 09424387

Pamplona Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Pamplona Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Pamplona Ltd

(Registration number: 09424387)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

646

1,350

Tangible assets

5

62,845

65,907

 

63,491

67,257

Current assets

 

Stocks

12,000

14,273

Debtors

6

222,081

208,905

Cash at bank and in hand

 

68,214

137,904

 

302,295

361,082

Creditors: Amounts falling due within one year

7

(99,640)

(138,418)

Net current assets

 

202,655

222,664

Total assets less current liabilities

 

266,146

289,921

Creditors: Amounts falling due after more than one year

7

(54,723)

(62,218)

Provisions for liabilities

(13,454)

(15,434)

Net assets

 

197,969

212,269

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

197,968

212,268

Shareholders' funds

 

197,969

212,269

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 28 January 2025 and signed on its behalf by:
 

 

Pamplona Ltd

(Registration number: 09424387)
Statement of Financial Position as at 30 April 2024 (continued)


Mrs G Craddock
Director

 

Pamplona 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 United Kingdom.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is operation of licensed premises, catering and related services

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.

 

Pamplona 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

Long leasehold property

10% straight line

Equipment

10% straight line

 

Pamplona Ltd

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

2

Accounting policies (continued)

Fixtures and fittings

10% 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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Leasehold fees

Straight line over the life of the lease

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

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

 

Pamplona Ltd

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 26 (2023 - 26).

 

Pamplona Ltd

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

7,041

7,041

At 30 April 2024

7,041

7,041

Amortisation

At 1 May 2023

5,691

5,691

Amortisation charge

704

704

At 30 April 2024

6,395

6,395

Carrying amount

At 30 April 2024

646

646

At 30 April 2023

1,350

1,350

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

5,958

13,910

107,051

126,919

Additions

10,274

8,749

1,550

20,573

At 30 April 2024

16,232

22,659

108,601

147,492

Depreciation

At 1 May 2023

1,787

9,952

49,273

61,012

Charge for the year

1,623

4,102

17,910

23,635

At 30 April 2024

3,410

14,054

67,183

84,647

Carrying amount

At 30 April 2024

12,822

8,605

41,418

62,845

At 30 April 2023

4,171

3,958

57,778

65,907

 

Pamplona Ltd

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

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

862

Amounts owed by related parties

9

217,392

201,273

Other debtors

 

4,689

6,770

 

222,081

208,905

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

27,333

49,897

Taxation and social security

 

35,445

45,575

Accruals and deferred income

 

2,836

2,636

Other creditors

 

24,026

30,310

 

99,640

138,418

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

41,444

39,010

Other non-current financial liabilities

 

13,279

23,208

 

54,723

62,218

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Pamplona Ltd

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

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Directors

25,309

(35,743)

30,000

19,566

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Directors

45,556

(80,247)

60,000

25,309

 

The loan is repayable on demand and interest is charged on overdrawn balances at the official rate.

10

Parent and ultimate parent undertaking

The company's immediate parent is Columbia Holdings Ltd, incorporated in United Kingdom.