Registered number
13522707
The Long Table Pub Co Ltd
Filleted Accounts
31 July 2023
The Long Table Pub Co Ltd
Registered number: 13522707
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 712,905 572,111
712,906 572,112
Current assets
Stocks 19,173 -
Debtors 5 24,569 5,682
Cash at bank and in hand 49,648 23,204
93,390 28,886
Creditors: amounts falling due within one year 6 (641,230) (417,066)
Net current liabilities (547,840) (388,180)
Total assets less current liabilities 165,066 183,932
Creditors: amounts falling due after more than one year 7 (228,616) (246,404)
Provisions for liabilities (26,076) (6,579)
Net liabilities (89,626) (69,051)
Capital and reserves
Called up share capital 4 4
Profit and loss account (89,630) (69,055)
Shareholders' funds (89,626) (69,051)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Stallard
Director
Approved by the board on 31 October 2023
The Long Table Pub Co Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not being depreciated
Leasehold land and buildings over the lease term
Plant and machinery 10% on a reducing balance basis
Fixtures, fittings and equipment 10% on a reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 1
At 31 July 2023 1
Amortisation
At 31 July 2023 -
Net book value
At 31 July 2023 1
At 31 July 2022 1
Goodwill is not being written off.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 482,727 38,471 521,198
Additions 92,936 117,868 210,804
At 31 July 2023 575,663 156,339 732,002
Depreciation
At 1 August 2022 - 3,847 3,847
Charge for the year - 15,250 15,250
At 31 July 2023 - 19,097 19,097
Net book value
At 31 July 2023 575,663 137,242 712,905
At 31 July 2022 537,487 34,624 572,111
5 Debtors 2023 2022
£ £
Trade debtors 12,000 -
Other debtors 12,569 5,682
24,569 5,682
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 34,669 27,270
Trade creditors 75,645 13,055
Taxation and social security costs 79,462 (7,797)
Other creditors 451,454 384,538
641,230 417,066
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 228,616 246,404
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 263,285 273,675
HSBC UK Bank Plc holds a registered debenture and fixed charge over all assets of the company in respect of a legal mortgage over the freehold property known as The Royal Standard, Gerrans, Porstcatho, Cornwall.
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Stallard
Interest free. Repayable on demand - 790 - 790
Miss J Glass
Interest free. Repayable on demand - 790 - 790
- 1,580 - 1,580
10 Related party transactions
During the year the company received advances in the form of loans and expenses paid on their behalf amounting to £83,118.88 in total by a company which is wholly owned by both Directors and Shareholders. Repayments of these advances were made to the aggregate sum of £19,303.65. A repayment holiday has been agreed in line with the terms of the loan agreement and accordringly interest at 5% AER has been delayed until the repayment holiday ends. The balance of the loan (2023: £444,323 | 2022: 377,079) is repayable on demand.
11 Other information
The Long Table Pub Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1, The Quarry
Highertown, Portscatho
Truro
Cornwall
TR2 5HP
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