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REGISTERED NUMBER: 13302109 (England and Wales)















Financial Statements for the Period 26 June 2023 to 30 June 2024

for

NDPC Limited

NDPC Limited (Registered number: 13302109)






Contents of the Financial Statements
for the Period 26 June 2023 to 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NDPC Limited

Company Information
for the Period 26 June 2023 to 30 June 2024







DIRECTORS: J S Clarke
J A Phipps
M F Robson
M J Williams
J Hicks
G Robson



REGISTERED OFFICE: 5 Castle Street
Farnham
Surrey
GU9 7HR



REGISTERED NUMBER: 13302109 (England and Wales)



SENIOR STATUTORY AUDITOR: Georgios Georgiou



AUDITORS: CWF & Partners Ltd
Chartered Accountants and
Statutory Auditor
Freedman House
Christopher Wren Yard
117 High Street
Croydon
Surrey
CR0 1QG

NDPC Limited (Registered number: 13302109)

Balance Sheet
30 June 2024

30.6.24 25.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 255,998 440,998
Tangible assets 6 4,184,141 6,903,623
4,440,139 7,344,621

CURRENT ASSETS
Stocks 61,699 70,763
Debtors 7 125,319 106,219
Cash at bank and in hand 214,204 347,378
401,222 524,360
CREDITORS
Amounts falling due within one year 8 802,169 1,795,476
NET CURRENT LIABILITIES (400,947 ) (1,271,116 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,039,192

6,073,505

CREDITORS
Amounts falling due after more than one
year

9

5,626,199

6,931,333
NET LIABILITIES (1,587,007 ) (857,828 )

CAPITAL AND RESERVES
Called up share capital 13 1 1
Retained earnings (1,587,008 ) (857,829 )
SHAREHOLDERS' FUNDS (1,587,007 ) (857,828 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





M F Robson - Director


NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements
for the Period 26 June 2023 to 30 June 2024

1. STATUTORY INFORMATION

NDPC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 £.

Turnover
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 at the fair value of the consideration received or receivable for the sale of food and beverage items as well as accommodation income, excluding value added tax and other sales taxes.

Revenue is recognised at the point of sale for food and beverage provided to customers and when the rooms are occupied for accommodation sales.

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 income statement over its useful economic life, estimated to be ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Long leasehold - over the period of the lease
Plant and machinery - Straight line over 5 years and Straight line over 10 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of the grants are included in creditors as deferred income.

Grants on a revenue nature are recognised in the income statement in the same period as the related expenditure.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at cost and amortised cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised costs, the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated cash flow discounted at the asset's original effective interest rate.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank overdraft, loan from third parties and related parties, are initially recognised at transaction price, unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

3. ACCOUNTING POLICIES - continued

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

Reporting period
The company presents its financial statements for the 12 month period ended 30 June 2024. The comparative period was 18 months following a change of ownership.
Therefore, the current and comparative figures presented in the financial statements are not entirely comparable.

Going concern
At the balance sheet date, the company had net current liabilities of £400,947 (2023 - £1,271,116) and net liabilities of £1,587,007 (2023 - £857,828).

The company has obtained confirmation from the shareholders that they will provide the financial support required for its continued operations for a period of not less than one year from the issuance and signing of these financial statements.

Based on the above, the directors have a reasonable expectation that the company will have adequate resources to continue operations for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 108 (2023 - 103 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 26 June 2023 489,998
Disposals (170,000 )
At 30 June 2024 319,998
AMORTISATION
At 26 June 2023 49,000
Amortisation for period 41,917
Eliminated on disposal (26,917 )
At 30 June 2024 64,000
NET BOOK VALUE
At 30 June 2024 255,998
At 25 June 2023 440,998

NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

6. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 26 June 2023 4,302,848 93,808 2,050,152
Additions 13,372 - 23,937
Disposals (1,874,410 ) - (580,894 )
At 30 June 2024 2,441,810 93,808 1,493,195
DEPRECIATION
At 26 June 2023 51,498 2,873 171,877
Charge for period 41,091 4,334 189,389
Eliminated on disposal (42,359 ) - (107,659 )
At 30 June 2024 50,230 7,207 253,607
NET BOOK VALUE
At 30 June 2024 2,391,580 86,601 1,239,588
At 25 June 2023 4,251,350 90,935 1,878,275

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 26 June 2023 713,775 42,050 7,202,633
Additions 11,438 - 48,747
Disposals (162,061 ) (21,291 ) (2,638,656 )
At 30 June 2024 563,152 20,759 4,612,724
DEPRECIATION
At 26 June 2023 63,428 9,334 299,010
Charge for period 73,859 6,752 315,425
Eliminated on disposal (26,722 ) (9,112 ) (185,852 )
At 30 June 2024 110,565 6,974 428,583
NET BOOK VALUE
At 30 June 2024 452,587 13,785 4,184,141
At 25 June 2023 650,347 32,716 6,903,623

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 25.6.23
£    £   
Trade debtors 40,103 1,290
Amounts owed by associates 2,000 6,344
Other debtors 83,216 98,585
125,319 106,219

NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 25.6.23
£    £   
Trade creditors 199,902 320,928
Taxation and social security 231,819 235,615
Other creditors 370,448 1,238,933
802,169 1,795,476

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 25.6.23
£    £   
Other creditors 5,626,199 6,931,333

Amounts falling due in more than five years:

Repayable by instalments
Other loans 1,131,840 2,303,066

10. LOANS

An analysis of the maturity of loans is given below:

30.6.24 25.6.23
£    £   
Amounts falling due within one year or on demand:
Other loans 13,704 25,612

Amounts falling due between one and two years:
Other loans 83,649 549,157

Amounts falling due between two and five years:
Other loans 56,239 94,249

Amounts falling due in more than five years:

Repayable by instalments
Other loans 1,131,840 2,303,066

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 25.6.23
£    £   
Within one year 116,091 106,545
Between one and five years 446,323 456,005
In more than five years 1,584,000 1,575,000
2,146,414 2,137,550

NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 25.6.23
£    £   
Other loans 1,217,347 2,448,766

A secured loan of £2.45m was obtained in April 2023 as part of the refinancing of the short-term loan and purchase of an additional pub site.

The term of the loan is 25 years from 28 April 2023 and the rate of interest applicable on this loan as at 30 June 2024 was 9.99% per annum. The interest rate is variable and the lender may vary the rate of interest from month to month by giving the company at least 28 days' notice in writing before applying the new interest rate to the loan.

On 1 February 2024 a repayment of £1.2m was made against the loan.

This loan is secured by fixed and floating charges over the assets of the company.

Two of the directors have provided personal guarantee to the lender for the loan.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 25.6.23
value: £    £   
10,000 Ordinary shares £0.0001 1 1

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Georgios Georgiou (Senior Statutory Auditor)
for and on behalf of CWF & Partners Ltd

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within current liabilities and creditors due after more than one year are loans due to the directors totalling £4,354,471 (2023 - £4,793,86l). These loans are made up of interest bearing loans amounting to £1,490,462 (2023 - £1,074,876) and non interest bearing loans amounting to £2,864,010 (2023 - £3,718,985). The rates of interest applicable on the interest bearing loans are 14.25% per annum. Total interest charged to the profit and loss account was £217,497 (2023 - £166,138) for the period.

NDPC Limited (Registered number: 13302109)

Notes to the Financial Statements - continued
for the Period 26 June 2023 to 30 June 2024

16. RELATED PARTY DISCLOSURES

Included within creditors due after more than one year are loans due to close members of the family of the directors totalling £68,084 (2023 - £523,319l).These loans are made up of interest bearing loans amounting to £67,253 (2023 - £515,070) and non interest bearing loans amounting to £831 (2023 - 8,249l). The rates of interest applicable on the interest bearing loans were 14.25% per annum.. Total interest charged to profit and loss accounts was £9,546 (2023 - £17,040) for the period.

At the balance sheet date, the company was owed £2,000 (2023 - £1,700) from Red Mist Property Limited, a company where three of the directors have an interest.

At the balance sheet date, the company was owed £735 (2023 - £4,644) from Little Latte Limited, a company where one of the directors has an interest. During the period, the company sold £7,381 (2023 - £379) of stock and services and bought £1,370 (2023 - £303) of stock with Little Latte Limited.

At the balance sheet date, the company was owed £33,600 (2023 - £nil) from InstaGroup Limited, a company which is part of a group where one of the directors has an interest. During the period, the company sold £46,329 (2023 - £21,712) of stock and services and bought £509 (2023 - £3,989) of services with InstaGroup Limited.