Company registration number 03833851 (England and Wales)
THE PONTCANNA PUB COMPANY LIMITED.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE PONTCANNA PUB COMPANY LIMITED.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE PONTCANNA PUB COMPANY LIMITED.
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,000,000
1,000,000
Current assets
Debtors
4
122,904
10,537
Cash at bank and in hand
16,914
22,317
139,818
32,854
Creditors: amounts falling due within one year
5
(656,817)
(584,881)
Net current liabilities
(516,999)
(552,027)
Total assets less current liabilities
483,001
447,973
Capital and reserves
Called up share capital
7
60
60
Revaluation reserve
6
79,970
79,970
Profit and loss reserves
402,971
367,943
Total equity
483,001
447,973
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
Mr H G Davies
Director
Company Registration No. 03833851
THE PONTCANNA PUB COMPANY LIMITED.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
The Pontcanna Pub Company Limited. is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1+2, Eastgate Business Park, Wentloog Avenue, Cardiff, United Kingdom, CF3 2EY.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discounts.
Revenue from property income is recognised over the period of rental when, and to the extent that, the company obtains the right to consideration in exchange for services provided.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
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. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 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.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
THE PONTCANNA PUB COMPANY LIMITED.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
1,000,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
50,762
Other debtors
72,142
10,537
122,904
10,537
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
611,107
524,254
Corporation tax
11,710
12,502
Other creditors
34,000
48,125
656,817
584,881
6
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
79,970
79,970
THE PONTCANNA PUB COMPANY LIMITED.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
60
60
60
60
8
Parent company
The parent company is HD & JP Limited, whose registered office address is Unit 1 & 2, Eastgate Business Park, Wentloog Avenue,Cardiff CF3 2EY.
9
Related party transactions
Included in other debtors is an amount of £19,500 (2023 - £5,000) owed by Buddy Properties Limited, a company with the same director.
Included in other debtors is an amount of £32,000 (2023 - £5,000) owed by HSMLH Properties Limited, a company with the same director.