Pump Street Limited
t/a Pump Street Chocolate
Annual Report and Unaudited Financial Statements
For the year ended 30 April 2024
Pages for filing with Registrar
Company Registration No. 08062770 (England and Wales)
Pump Street Limited
t/a Pump Street Chocolate
Company Information
Directors
C Brennan
J Brennan
Company number
08062770
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Business address
22 Wilton Way
Bentwaters Parks
Woodbridge
Suffolk
IP12 2TW
Pump Street Limited
t/a Pump Street Chocolate
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Pump Street Limited
t/a Pump Street Chocolate
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
77,073
53,825
Tangible assets
4
550,050
638,499
627,123
692,324
Current assets
Stock
5
387,671
346,336
Debtors
6
230,634
219,492
Cash at bank and in hand
10,633
120,836
628,938
686,664
Creditors: amounts falling due within one year
7
(330,174)
(287,684)
Net current assets
298,764
398,980
Total assets less current liabilities
925,887
1,091,304
Creditors: amounts falling due after more than one year
8
(1,543)
Net assets
925,887
1,089,761
Capital and reserves
Called up share capital
10
1,002,000
1,002,000
Profit and loss reserves
(76,113)
87,761
Total equity
925,887
1,089,761
Pump Street Limited
t/a Pump Street Chocolate
Balance Sheet (Continued)
As at 30 April 2024
Page 2
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 April 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:
C Brennan
Director
Company Registration No. 08062770
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements
For the year ended 30 April 2024
Page 3
1
Accounting policies
Company information
Pump Street Limited is a private company limited by shares domiciled & incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with section 1A of 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 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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website Development
10% Straight Line
Other intangibles
10% Straight Line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery 5%-25% Straight Line
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
Page 4
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
40
39
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 5
3
Intangible fixed assets
Website development and other intangible assets
£
Cost
At 1 May 2023
91,507
Additions
34,072
At 30 April 2024
125,579
Amortisation and impairment
At 1 May 2023
37,682
Amortisation charged for the year
10,824
At 30 April 2024
48,506
Carrying amount
At 30 April 2024
77,073
At 30 April 2023
53,825
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
1,111,312
Additions
143,362
At 30 April 2024
1,254,674
Depreciation and impairment
At 1 May 2023
472,813
Depreciation charged in the year
231,811
At 30 April 2024
704,624
Carrying amount
At 30 April 2024
550,050
At 30 April 2023
638,499
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 6
5
Stock
2024
2023
£
£
Stock
387,671
346,336
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
90,992
86,696
Other debtors
83,859
85,355
Prepayments and accrued income
55,783
47,441
230,634
219,492
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
117,760
68,530
Amounts owed to group undertakings
101,550
86,003
Taxation and social security
18,758
12,224
Other creditors
88,413
115,679
Accruals and deferred income
3,693
5,248
330,174
287,684
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,543
9
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
1,482
23,345
In two to five years
1,543
1,482
24,888
Pump Street Limited
t/a Pump Street Chocolate
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
9
Finance lease obligations
(Continued)
Page 7
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
10
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,002,000 Ordinary shares of £1 each
1,002,000
1,002,000
11
Related party transactions
Included within debtors and creditors at year end were balances of £18,277 (2023: £18,277) and £43,071 (2023: £43,071) respectively owed to the directors. The loans are unsecured, non-interest bearing and repayable on demand.