Chorleywood Taverns Limited 07464593 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the running of a public house Digita Accounts Production Advanced 6.30.9574.0 true true 07464593 2021-01-01 2021-12-31 07464593 2021-12-31 07464593 core:CurrentFinancialInstruments 2021-12-31 07464593 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 07464593 core:Non-currentFinancialInstruments 2021-12-31 07464593 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 07464593 core:Goodwill 2021-12-31 07464593 core:OtherPropertyPlantEquipment 2021-12-31 07464593 bus:SmallEntities 2021-01-01 2021-12-31 07464593 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 07464593 bus:FullAccounts 2021-01-01 2021-12-31 07464593 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 07464593 bus:RegisteredOffice 2021-01-01 2021-12-31 07464593 bus:Director1 2021-01-01 2021-12-31 07464593 bus:Director2 2021-01-01 2021-12-31 07464593 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 07464593 core:Goodwill 2021-01-01 2021-12-31 07464593 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 07464593 core:PlantMachinery 2021-01-01 2021-12-31 07464593 countries:England 2021-01-01 2021-12-31 07464593 2020-12-31 07464593 core:Goodwill 2020-12-31 07464593 core:OtherPropertyPlantEquipment 2020-12-31 07464593 2020-01-01 2020-12-31 07464593 2020-12-31 07464593 core:CurrentFinancialInstruments 2020-12-31 07464593 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 07464593 core:Non-currentFinancialInstruments 2020-12-31 07464593 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 07464593 core:Goodwill 2020-12-31 07464593 core:OtherPropertyPlantEquipment 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 07464593

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Company Information

Directors

Mr J Hall

Mrs R Oakley

Registered office

1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB

Accountants

The Pub Experts Ltd
1st Floor
143 Connaught Avenue
Frinton-On-Sea
Essex
CO13 9AB

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

(Registration number: 07464593)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

8,000

12,000

Tangible assets

5

37,394

39,920

 

45,394

51,920

Current assets

 

Stocks

6

6,112

8,313

Debtors

7

105,987

2,535

Cash at bank and in hand

 

2,856

2,715

 

114,955

13,563

Creditors: Amounts falling due within one year

8

(135,092)

(76,665)

Net current liabilities

 

(20,137)

(63,102)

Total assets less current liabilities

 

25,257

(11,182)

Creditors: Amounts falling due after more than one year

8

(45,833)

-

Provisions for liabilities

-

(6,815)

Net liabilities

 

(20,576)

(17,997)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(20,578)

(17,999)

Shareholders' deficit

 

(20,576)

(17,997)

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

(Registration number: 07464593)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 April 2022 and signed on its behalf by:
 

.........................................
Mr J Hall
Director

.........................................
Mrs R Oakley
Director

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB

These financial statements were authorised for issue by the Board on 22 April 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The directors have guaranteed their financial support to the company for the foreseeable future.
On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilites which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

10% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2020 - 7).

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2021

40,000

40,000

At 31 December 2021

40,000

40,000

Amortisation

At 1 January 2021

28,000

28,000

Amortisation charge

4,000

4,000

At 31 December 2021

32,000

32,000

Carrying amount

At 31 December 2021

8,000

8,000

At 31 December 2020

12,000

12,000

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2021

86,654

86,654

Additions

1,763

1,763

At 31 December 2021

88,417

88,417

Depreciation

At 1 January 2021

46,734

46,734

Charge for the year

4,289

4,289

At 31 December 2021

51,023

51,023

Carrying amount

At 31 December 2021

37,394

37,394

At 31 December 2020

39,920

39,920

As from 12th June 2012 Barclays Bank PLC has a fixed and floating charge over the undertakings and all property and assets.

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Stocks

2021
£

2020
£

Finished goods and goods for resale

6,112

8,313

7

Debtors

2021
£

2020
£

Prepayments

390

-

Other debtors

105,597

2,535

105,987

2,535

 

Chorleywood Taverns Limited

trading as Rose & Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

4,167

-

Trade creditors

 

4,605

4,420

Taxation and social security

 

114,653

70,647

Accruals and deferred income

 

1,461

-

Other creditors

 

10,206

1,598

 

135,092

76,665

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

9

45,833

-

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

45,833

-

2021
£

2020
£

Current loans and borrowings

Bank borrowings

4,167

-