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HANNEY COMMUNITY PUB LTD

 

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

 

                                                                           2020                          2019

                                                                                 £                               £

 

Turnover                                                                          27,071                            20,792

Cost of sales                                                                      (6,412)                                   0

Gross Profit                                                                     20,659                            20,792

Administrative expenses                                                    (31,468)                          (24,802)

Other operating income/(expense)                                       (1,104)                              3,000

                                                                                    ________                         ________

Operating profit/(loss)                                                       (11,913)                            (1,010)

Write off of intercompany loan                                                     0                                      0

Interest receivable                                                                      6                                    50

Interest (payable)                                                                   (132)                              (373)

                                                                                    ________                         ________

Profit/(loss) on ordinary activities

 before taxation                                                               (12,039)                            (1,333)

 

Tax on loss                                                                         (1,330)                                    0

                                                                                    ________                         ________

 

PROFIT / (LOSS) FOR THE FINANCIAL YEAR                 (13,369)                            (1,333)

                                                                                    =========                   =========

 

 

BALANCE SHEET

As at 31 DECEMBER 2020

 

                                                                  Note                   2020                                2019

                                                                                                 £                                      £

Fixed assets

Tangible assets                                                                   9,445                             12,567

Investment property                                                         395,000                            395,000

                                                                                       404,445                            407,567

Current assets

Debtors                                                                                     0                                      0

Cash at bank and in hand                                                     4,538                             18,350

Total                                                                                    4,538                             18,350

 

Creditors: amounts falling due

within one year                                                                  (7,196)                            (5,191)

 

Net current assets                                                             (2,658)                            13,159

 

Total assets less current liabilities                                 401,787                            420,726

 

Creditors; amounts falling due

after more than one year                                                           0                             (6,900)

 

Deferred Taxation Provision                         (1)                    (1,330)                                    0

 

Net assets                                                                       400,457                            413,826

 

Capital and reserves

Called up share capital                                                     400,000                            400,000

Profit and (loss) account                                                    (72,712)                          (59,343)

Revaluation reserve                                                           73,169                             73,169

 

Shareholders’ funds                                                       400,457                            413,826

HANNEY COMMUNITY PUB LTD

Detailed profit & loss account

for the year ended 31 December 2020

 

                                                                                                             

                                                                  Note                 2020                               2019

                                                                                                 £                                     £

 

Rental Income                                                               14,300                            20,792

Sales Income                                                                 12,771                                     0

                                                                                        27,071                            20,792

 

Cost of sales

Purchases                                                                        (6,412)                                    0

 

Administrative expenses

         Staff /Training costs                         (2)                      156                                 283

 

General administrative expenses:

         Utilities                                             (3)                      837                                     0

         Telecoms & Postage                                                  266                                 103

         Subscriptions                                   (4)                      122                                 193

         Bank charges                                                                59                                   86

         Insurances                                       (5)                   3,842                              4,186

         Software                                           (6)                      172                                 119

         Repairs & maintenance                   (7)                 12,428                              4,215

         Depreciation                                                           10,065                            13,534

         Sundry expenses                             (8)                      935                                 663

                                                                                        28,882                            23,099

Legal & professional costs:

         Accountancy fees                                                       550                                 525

         Surveyors fee (insurance)                                              0                                 895

         Tenant Recruitment                                                 2,036                                     0

                                                                                          2,586                              1,420

 

Total expenses                                                              31,468                            24,802

 

 

Other operating expense                          (9)                   1,104                            (3,000)

 

Interest received                                       (10)                        6                                   50

Interest payable                                        (11)                    132                                 373

Net interest paid                                                                  126                                 323

 

Notes

  1. Accounting provision for 2019 property valuation gain
  2. Staff cleaning & serving – August 2020
  3. Gas/electric/water – Summer 2020
  4. Premise’s licence
  5. Annual buildings insurance & Directors Insurance
  6. Website & IT costs.
  7. Significant repair/refurbishment improvements. Major items include cellar & floor works (£2,600), new window frames (£3,000) & electrical works (£1,500)
  8. Includes Council Tax for Summer 2020
  9. Includes payment for stock to outgoing tenants.
  10. Interest from tenants for late payment & interest on deposit account
  11. Interest paid to directors for loans to the company

 

 

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