Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 91,976 | 100,707 | |||
| Current assets | ||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand | 6 |
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| 1,855,261 | 1,879,863 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 1,563,113 | 1,492,131 | ||
| Total assets less current liabilities | 1,655,089 | 1,592,838 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Lovely Pubs Ltd (registered number:
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Ms R C Mottram
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Lovely Pubs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mill House, Seaford Road, Alfriston, Polegate, East Sussex, BN26 5TP, United Kingdom. The principal place of business is The Hawley Arms, 2 Castle Haven Road, Camden, London, NW1 8QU.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
| Land and buildings |
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| Vehicles |
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| Fixtures and fittings |
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| Office equipment |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Vehicles | Fixtures and fittings | Office equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 December 2023 |
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| Additions |
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| Adjustments |
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| At 30 November 2024 |
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| Accumulated depreciation | |||||||||
| At 01 December 2023 |
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| Charge for the financial year |
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| At 30 November 2024 |
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| Net book value | |||||||||
| At 30 November 2024 | 0 | 40,049 | 16,123 | 35,804 | 91,976 | ||||
| At 30 November 2023 | 0 | 53,399 | 18,375 | 28,933 | 100,707 |
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| £ | £ | ||
| Stocks |
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by Group undertakings |
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| Prepayments |
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| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Trade creditors |
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| Accruals |
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| Taxation and social security |
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| Other creditors |
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| Allotted, called-up and fully-paid | |||
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The company is a fully owned subsidiary of Lovely Holdings Limited, a company in which the directors, Ms R Mottram and Mr D Ridler hold 100% of the issued share capital.
During the year the company advanced loans totalling £62,682 and made rental payments of £171,700 to Lovely Holdings Limited. Each transaction took place at arm's length basis and at prevailing market rates
At the balance sheet date included in Debtors under amounts owed by group undertakings was a balance of £854,204 (2023: £791,522) due from Lovely Holdings Limited.
During the year Lovely Holdings Limited received dividends totalling £300,000 (2023: £200,000).