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REGISTERED NUMBER: 10958736 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE CHEQUERS INN CHURCHILL LIMITED

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE CHEQUERS INN CHURCHILL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Mr C Palmer
Sir A C Gallagher





REGISTERED OFFICE: c/o The Chequers
Church Road
Churchill
Chipping Norton
Oxfordshire
OX7 6NJ





REGISTERED NUMBER: 10958736 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,102,786 1,123,698

CURRENT ASSETS
Stocks 5 39,600 32,406
Debtors 6 370,976 142,489
Cash at bank and in hand 59,275 285,151
469,851 460,046
CREDITORS
Amounts falling due within one year 7 257,989 159,183
NET CURRENT ASSETS 211,862 300,863
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,314,648

1,424,561

CREDITORS
Amounts falling due after more than one
year

8

(1,115,079

)

(1,190,183

)

PROVISIONS FOR LIABILITIES 10 (79,466 ) (83,440 )
NET ASSETS 120,103 150,938

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 255,522 255,522
Retained earnings 12 (135,519 ) (104,684 )
SHAREHOLDERS' FUNDS 120,103 150,938

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

BALANCE SHEET - continued
31 DECEMBER 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





Mr C Palmer - Director


THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

The Chequers Inn Churchill Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through the bank facility and funds from the directors and investors. The company expects to be able to operate within these facilities. On this basis the directors considers it appropriate to prepare the financial statements on the going concern basis.The directors have confirmed that the parent company will continue to support the company.

Preparation of consolidated financial statements
The company is a wholly owned subsidiary of MPG Local Pub Limited, whose registered office is The Chequers, Church Road, Churchill, Chipping Norton, Oxfordshire OX7 6NJ. That company is exempt from preparing group accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 17% on cost
Computer equipment - 33% on cost

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

The directors perform annual impairment reviews in accordance with the requirements of the FRS102A to ensure that the recoverable amount is not lower than the carrying value.

The valuation of Freehold Property is considered by the directors annually and is revalued as appropriate.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.


Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2021 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2022 1,000,000 57,636 261,892 27,215 1,346,743
Additions - 30,597 5,980 5,746 42,323
At 31 December 2022 1,000,000 88,233 267,872 32,961 1,389,066
DEPRECIATION
At 1 January 2022 - 30,745 169,101 23,199 223,045
Charge for year - 15,601 44,585 3,049 63,235
At 31 December 2022 - 46,346 213,686 26,248 286,280
NET BOOK VALUE
At 31 December 2022 1,000,000 41,887 54,186 6,713 1,102,786
At 31 December 2021 1,000,000 26,891 92,791 4,016 1,123,698

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2022 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2020 315,460 - - - 315,460
Cost 684,540 88,233 267,872 32,961 1,073,606
1,000,000 88,233 267,872 32,961 1,389,066

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 684,540 684,540

Freehold property was valued on an open market basis on 31 December 2021 by the directors .

5. STOCKS
31.12.22 31.12.21
£    £   
Food stock 6,817 6,429
Drink stock 32,783 25,977
39,600 32,406

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 52,388 48,060
Amounts owed by group undertakings 303,257 85,000
Other debtors 1,450 -
Prepayments 13,881 9,429
370,976 142,489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 81,203 61,530
Social security and other taxes 16,152 12,065
VAT 70,567 40,483
Other creditors 11,823 8,671
Accruals and deferred income 68,244 26,434
257,989 159,183

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans (see note 9) 28,333 38,333
Amounts owed to group undertakings 1,086,746 1,151,850
1,115,079 1,190,183

9. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 18,333 28,333

10. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax
Accelerated capital allowances 19,529 23,503
Freehold property revaluation 59,937 59,937
79,466 83,440

Deferred
tax
£   
Balance at 1 January 2022 83,440
Provided during year (3,974 )
Balance at 31 December 2022 79,466

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

THE CHEQUERS INN CHURCHILL LIMITED (REGISTERED NUMBER: 10958736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2022 (104,684 ) 255,522 150,838
Deficit for the year (30,835 ) (30,835 )
At 31 December 2022 (135,519 ) 255,522 120,003