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Registered number: 11530612 KPS PUB COMPANY LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 NOVEMBER 2024
KPS PUB COMPANY LTD REGISTERED NUMBER: 11530612 BALANCE SHEET AS AT 30 NOVEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 38,089 |  | 46,499
Current assets |  |  |  |  |
Stocks | 5 | 11,800 |  | 11,550 |
Debtors: amounts falling due after more than one year | 6 | 18,000 |  | 18,000 |
Debtors: amounts falling due within one year | 6 | 1,059 |  | 1,115 |
Cash at bank and in hand | 7 | 7,828 |  | 27,327 |
|  | 38,687 |  | 57,992 |
Creditors: amounts falling due within one year | 8 | (125,477) |  | (163,182) |
Net current liabilities |  |  | (86,790) |  | (105,190)
Total assets less current liabilities |  |  | (48,701) |  | (58,691)
Creditors: amounts falling due after more than one year | 9 |  | (5,833) |  | (15,833)
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 |  | (1,411) |  | (1,881)
Net liabilities |  |  | (55,945) |  | (76,405)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (56,045) |  | (76,505)
|  |  | (55,945) |  | (76,405)
Page 1
KPS PUB COMPANY LTD REGISTERED NUMBER: 11530612 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2024 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2025.
Mr P Motley
Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
1. | General information
KPS Pub Company Ltd is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal place of business is 209-211 Liverpool Road, London, N1 1LX. The principal business activity was that of running a public house. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 2.Accounting policies (continued)
| 2.6 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 4
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line method and reducing balance basis. Depreciation is provided at the following rates:
|  |  |  | Short-term leasehold property | - | Over the term of the lease
|  |  |  | Fixtures and fittings | - | 25% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 2.Accounting policies (continued)
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.14 | Financial instruments
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2023 - 9).
Page 6
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
4. | Tangible fixed assets
|  | Short-term leasehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 December 2023 | 66,028 | 37,987 | 104,015
| At 30 November 2024 | 66,028 | 37,987 | 104,015
| Depreciation |  |  |
| At 1 December 2023 | 29,429 | 28,087 | 57,516
| Charge for the year on owned assets | 5,935 | 2,475 | 8,410
| At 30 November 2024 | 35,364 | 30,562 | 65,926
| Net book value |  |  |
| At 30 November 2024 | 30,664 | 7,425 | 38,089
| At 30 November 2023 | 36,599 | 9,900 | 46,499
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Short leasehold | 30,664 | 36,599
5. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Goods for resale | 11,800 | 11,550
Page 7
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 18,000 | 18,000
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due within one year |  |
| Prepayments and accrued income | 1,059 | 1,115
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 7,828 | 27,327
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 10,000 | 10,000
| Trade creditors | 1,181 | -
| Corporation tax | 1,992 | -
| Other taxation and social security | 12,152 | 11,895
| Other creditors | 59,628 | 98,692
| Accruals and deferred income | 40,524 | 42,595
|  | 125,477 | 163,182
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 5,833 | 15,833
Page 8
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 10,000 | 10,000
| Amounts falling due 1-2 years |  |
| Bank loans | 5,833 | 10,000
| Amounts falling due 2-5 years |  |
| Bank loans | - | 5,833
|  | 15,833 | 25,833
11. | Deferred taxation
|  | 2024 | 2023
|  | £ | £
| At beginning of year | (1,881) | -
| Released/(charged) to profit or loss | 470 | (1,881)
| At end of year | (1,411) | (1,881)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,411) | (1,881)
12. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £1,442 (2023 - £1,081). Contributions totalling £254 (2023 - £235) were payable to the fund at the balance sheet date and are included in creditors. Page 9
KPS PUB COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
13. | Commitments under operating leases
| At 30 November 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 60,000 | 60,000
| Later than 1 year and not later than 5 years | 240,000 | 240,000
| Later than 5 years | 10,000 | 70,000
|  | 310,000 | 370,000
Page 10