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Registration number: 13189720

McCallum Pubs Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 9 February 2021 to 31 March 2022

 

McCallum Pubs Ltd

Directors' Report for the Period from 9 February 2021 to 31 March 2022

The directors present their report and the abridged financial statements for the period from 9 February 2021 to 31 March 2022.

Incorporation

The company was incorporated on 9 February 2021 and commenced trading on 1 April 2021

Directors of the company

The directors who held office during the period were as follows:

Mr Kevin McCallum (appointed 9 February 2021)

Mrs Bryony May McCallum (appointed 9 February 2021)

Principal activity

The principal activity of the company is Public House and Restaurant

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 7 September 2022 and signed on its behalf by:
 

.........................................
Mr Kevin McCallum
Director

.........................................
Mrs Bryony May McCallum
Director

 

McCallum Pubs Ltd

(Registration number: 13189720)
Abridged Balance Sheet as at 31 March 2022

Note

2022
£

Fixed assets

 

Tangible assets

5

55,323

Current assets

 

Stocks

6

10,880

Cash at bank and in hand

 

12,652

 

23,532

Prepayments and accrued income

 

7,963

Creditors: Amounts falling due within one year

(13,795)

Net current assets

 

17,700

Total assets less current liabilities

 

73,023

Provisions for liabilities

(10,511)

Accruals and deferred income

 

(3,961)

Net assets

 

58,551

Capital and reserves

 

Called up share capital

7

2

Retained earnings

58,549

Shareholders' funds

 

58,551

For the financial period ending 31 March 2022 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 period 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 7 September 2022 and signed on its behalf by:
 

 

McCallum Pubs Ltd

(Registration number: 13189720)
Abridged Balance Sheet as at 31 March 2022

.........................................
Mr Kevin McCallum
Director

.........................................
Mrs Bryony May McCallum
Director

 

McCallum Pubs Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 9 February 2021 to 31 March 2022

1

General information

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

The address of its registered office is:
The Duke William
Town Street
Askham
Newark
Nottinghamshire
NG22 0RS

These financial statements were authorised for issue by the Board on 7 September 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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

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.

Tax

The tax expense for the period comprises current and 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.

 

McCallum Pubs Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 9 February 2021 to 31 March 2022

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 fixtures

25% reducing balance

Office equipment

33.3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

McCallum Pubs Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 9 February 2021 to 31 March 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 period, was 11.

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

Depreciation expense

7,262

 

McCallum Pubs Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 9 February 2021 to 31 March 2022

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

62,585

62,585

At 31 March 2022

62,585

62,585

Depreciation

Charge for the period

7,262

7,262

At 31 March 2022

7,262

7,262

Carrying amount

At 31 March 2022

55,323

55,323

6

Stocks

2022
£

Other inventories

10,880

7

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary shares of £1 each

2

2

     

8

Dividends

   

2022

 
   

£

 

Interim dividend of £24,189.00 per ordinary share

 

48,378

 
       

9

Related party transactions

 

McCallum Pubs Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 9 February 2021 to 31 March 2022

Directors' remuneration

The directors' remuneration for the period was as follows:

2022
£

Remuneration

25,200