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Company No: 10532043 (England and Wales)

# THE PULBOROUGH TEA ROOM LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

THE PULBOROUGH TEA ROOM LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE PULBOROUGH TEA ROOM LTD

## COMPANY INFORMATION

For the financial year ended 31 December 2024
THE PULBOROUGH TEA ROOM LTD

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

Director | C P Smith

Registered office | The Pulborough Tea Room
| 79 Lower Street
| Pulborough
| RH20 2BP
| United Kingdom

Company number | 10532043 (England and Wales)

Accountant | Kreston Reeves LLP
| Springfield House
| Springfield Road
| Horsham
| West Sussex
| RH12 2RG

THE PULBOROUGH TEA ROOM LTD

## BALANCE SHEET

As at 31 December 2024
THE PULBOROUGH TEA ROOM LTD

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 5 | 330,000 |  | 330,000
|  | 330,000 |  | 330,000
Current assets |  |  |  |
Debtors | 6 | 1,452 |  | 2,255
Cash at bank and in hand |  | 5,189 |  | 56
|  | 6,641 |  | 2,311
Creditors: amounts falling due within one year | 7 | ( 4,851) |  | ( 1,200)
Net current assets |  | 1,790 |  | 1,111
Total assets less current liabilities |  | 331,790 |  | 331,111
Creditors: amounts falling due after more than one year | 8 | ( 435,353) |  | ( 430,204)
Net liabilities |  | ( 103,563) |  | ( 99,093)
Capital and reserves |  |  |  |
Called-up share capital | 9 | 2 |  | 2
Profit and loss account |  | ( 103,565 ) |  | ( 99,095 )
Total shareholder's deficit |  | ( 103,563) |  | ( 99,093)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Pulborough Tea Room Ltd (registered number: 10532043) were approved and authorised for issue by the Director on 03 September 2025. They were signed on its behalf by:

C P Smith Director |

THE PULBOROUGH TEA ROOM LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE PULBOROUGH TEA ROOM LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

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.

##### General information and basis of accounting

The Pulborough Tea Room 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 The Pulborough Tea Room, 79 Lower Street, Pulborough, RH20 2BP, United Kingdom.
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 £.

##### Going concern

The financial statements have been prepared on a going concern basis. The company's ability to continue to trade is dependent upon the support of the directors and bankers. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

##### 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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Borrowing costs

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

##### Impairment of assets

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 Statement of Income and Retained Earnings as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 25,000 |  | 25,000
At 31 December 2024 | 25,000 |  | 25,000
Accumulated amortisation |  |  |
At 01 January 2024 | 25,000 |  | 25,000
At 31 December 2024 | 25,000 |  | 25,000
Net book value |  |  |
At 31 December 2024 | 0 |  | 0
At 31 December 2023 | 0 |  | 0

#### 4. Tangible assets

| Fixtures and fittings |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 4,970 |  | 4,970
At 31 December 2024 | 4,970 |  | 4,970
Accumulated depreciation |  |  |
At 01 January 2024 | 4,970 |  | 4,970
At 31 December 2024 | 4,970 |  | 4,970
Net book value |  |  |
At 31 December 2024 | 0 |  | 0
At 31 December 2023 | 0 |  | 0

#### 5. Investment property

| Investment property
| £
Valuation |
As at 01 January 2024 | 330,000
As at 31 December 2024 | 330,000

The 2024 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2024 |  | 2023
| £ |  | £
Historic cost | 340,646 |  | 340,646

#### 6. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 882 |  | 771
Prepayments and accrued income | 570 |  | 1,484
| 1,452 |  | 2,255

#### 7. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 913 |  | 0
Accruals | 1,200 |  | 1,200
Other creditors | 2,738 |  | 0
| 4,851 |  | 1,200

#### 8. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans (secured) | 215,149 |  | 215,118
Amounts owed to director | 220,204 |  | 215,086
| 435,353 |  | 430,204

Details of security provided:
The bank loan is guaranteed by the director's wife, S L Smith.

#### 9. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2 Ordinary shares of £ 1.00 each | 2 |  | 2

#### 10. Related party transactions

During the year S L Smith, the wife of the sole director of the company, continued to provide a loan to the company. At the year end £220,206 (2023 - £215,087) was owed to S L Smith and is included in other creditors due after more than one year.