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Registration number: 08542659

MC Pub Co (Holding) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

MC Pub Co (Holding) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

MC Pub Co (Holding) Limited

Company Information

Directors

M F Bray

C Bray

Registered office

26 Chippendale Road
Lincoln
LN6 3PP

Bankers

National Westminster Bank plc
225 High Street
Lincoln
LN2 1AZ

Accountants

Atkinson Saul Fairholm Limited
Chartered Accountants
21A Newland
Lincoln
LN1 1XP

 

MC Pub Co (Holding) Limited

(Registration number: 08542659)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,451

7,572

Investment property

5

527,912

527,912

Investments

6

-

76

 

535,363

535,560

Current assets

 

Cash at bank and in hand

 

28,123

28,373

Creditors: Amounts falling due within one year

7

(222,454)

(225,074)

Net current liabilities

 

(194,331)

(196,701)

Total assets less current liabilities

 

341,032

338,859

Provisions for liabilities

(61,513)

(61,366)

Net assets

 

279,519

277,493

Capital and reserves

 

Called up share capital

176

176

Profit and loss account

279,343

277,317

Shareholders' funds

 

279,519

277,493

For the financial year ending 30 April 2023 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 Directors' Report and the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

 

MC Pub Co (Holding) Limited

(Registration number: 08542659)
Balance Sheet as at 30 April 2023

.........................................

M F Bray
Director

 

MC Pub Co (Holding) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is:
26 Chippendale Road
Lincoln
LN6 3PP

The principal place of business is:
The Railway Inn
Station Road
Thorpe on the Hill
Lincoln
LN6 9BS

These financial statements were authorised for issue by the Board on 9 October 2023.

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.

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.

 

MC Pub Co (Holding) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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

Office equipment

20% reducing balance

Fixtures and fittings

20% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

MC Pub Co (Holding) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability are charged as interest expense in the profit and loss account.


 

3

Staff numbers

The average number of persons employed by the company (including directors with contracts of employment) during the year, was 0 (2022 - 0).

 

MC Pub Co (Holding) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

8,816

8,816

Additions

832

832

At 30 April 2023

9,648

9,648

Depreciation

At 1 May 2022

1,244

1,244

Charge for the year

953

953

At 30 April 2023

2,197

2,197

Carrying amount

At 30 April 2023

7,451

7,451

At 30 April 2022

7,572

7,572

5

Investment properties

2023
£

At 30 April 2023

527,912

There has been no valuation of the property by an independent valuer, however the directors have reviewed the valuation of the property and feel that the value in the accounts reflects the current fair value.

 

 

MC Pub Co (Holding) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

-

76

Subsidiaries

£

Cost or valuation

At 1 May 2022

76

Disposals

(76)

At 30 April 2023

-

Carrying amount

At 30 April 2023

-

At 30 April 2022

76

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,519

471

Other creditors

219,935

224,603

222,454

225,074