Caseware UK (AP4) 2022.0.179 2022.0.179 2022-07-312022-07-31Pub2021-08-01false108falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13348248 2021-08-01 2022-07-31 13348248 2021-04-21 2021-07-31 13348248 2022-07-31 13348248 2021-07-31 13348248 c:Director1 2021-08-01 2022-07-31 13348248 d:Buildings d:LongLeaseholdAssets 2021-08-01 2022-07-31 13348248 d:Buildings d:LongLeaseholdAssets 2022-07-31 13348248 d:Buildings d:LongLeaseholdAssets 2021-07-31 13348248 d:PlantMachinery 2021-08-01 2022-07-31 13348248 d:PlantMachinery 2022-07-31 13348248 d:PlantMachinery 2021-07-31 13348248 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 13348248 d:FurnitureFittings 2021-08-01 2022-07-31 13348248 d:FurnitureFittings 2022-07-31 13348248 d:FurnitureFittings 2021-07-31 13348248 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 13348248 d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 13348248 d:CurrentFinancialInstruments 2022-07-31 13348248 d:CurrentFinancialInstruments 2021-07-31 13348248 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 13348248 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 13348248 d:ShareCapital 2022-07-31 13348248 d:ShareCapital 2021-07-31 13348248 d:RetainedEarningsAccumulatedLosses 2022-07-31 13348248 d:RetainedEarningsAccumulatedLosses 2021-07-31 13348248 c:FRS102 2021-08-01 2022-07-31 13348248 c:Audited 2021-08-01 2022-07-31 13348248 c:FullAccounts 2021-08-01 2022-07-31 13348248 c:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 13348248 c:SmallCompaniesRegimeForAccounts 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure

Registered number: 13348248









5 WHITE HORSE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2022

 
5 WHITE HORSE LIMITED
REGISTERED NUMBER: 13348248

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
300,290
311,556

  
300,290
311,556

Current assets
  

Stocks
  
21,166
13,118

Debtors: amounts falling due within one year
 5 
41,591
22,650

Cash at bank and in hand
  
12,310
8,305

  
75,067
44,073

Creditors: amounts falling due within one year
 6 
(701,048)
(522,977)

Net current liabilities
  
 
 
(625,981)
 
 
(478,904)

Total assets less current liabilities
  
(325,691)
(167,348)

  

Net liabilities
  
(325,691)
(167,348)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(325,692)
(167,349)

  
(325,691)
(167,348)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.




T Fokina
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
5 WHITE HORSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1.


General information

The principal activity of 5 White Horse Limited ("the Company") is that of hospitality in the form of a pub situated in Piccadilly, London.
The Company is a private company limited by shares and is incorporated in England and Wales. 
The Registered Office address is 5 White Horse Street, London, England, W1J 7LQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements show a loss for the year after tax of £158,343 and net liabilities of £325,691 at 31 July 2022, of which £566,105 was owed to the parent company ('Hedonism Drinks Limited').
The directors have assessed whether the Company has adequate resources to meet its obligations as they fall due and beyond the 12 months from the date of the approval of these financial statements, considering in particular the challenges that the past 2 years have posed for the  the wider Group's activities (Hedonism Group), upon which the Company is reliant to generate working capital to fund its financial overheads.
The Company is reliant on the continued support of its parent, which it has pledged in full and the parent company has confirmed that it will will not call any debts in at any time that would prejudice the Company to make the repayments.
As a result of the above confirmations, the director considers that the Company can meet its debts as they fall due and beyond 12 months from the date of signing of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue comprises both income arising from the sale of food and drink net of value added tax and income arising as a result of service charges relating to the sale of this food and drink.
Revenue is recognised when food and drink is provided to the customer.

Page 2

 
5 WHITE HORSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5%
Straight line
Plant and machinery
-
33%
Straight line
Fixtures and fittings
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
5 WHITE HORSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2021 - 8).

Page 4

 
5 WHITE HORSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2021
233,250
43,431
45,921
322,602


Additions
25,411
4,713
2,249
32,373



At 31 July 2022

258,661
48,144
48,170
354,975



Depreciation


At 1 August 2021
4,203
3,141
3,702
11,046


Charge for the year on owned assets
12,902
15,202
15,535
43,639



At 31 July 2022

17,105
18,343
19,237
54,685



Net book value



At 31 July 2022
241,556
29,801
28,933
300,290



At 31 July 2021
229,047
40,290
42,219
311,556

Page 5

 
5 WHITE HORSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

5.


Debtors

2022
2021
£
£


Trade debtors
283
-

Amounts owed by group undertakings
-
8,002

Prepayments and accrued income
41,308
14,648

41,591
22,650



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
23,154
55,242

Amounts owed to group undertakings
598,837
435,574

Other taxation and social security
23,178
4,650

Other creditors
18,400
-

Accruals and deferred income
37,479
27,511

701,048
522,977


Amounts owed to group undertakings are interest free and repayable on demand. 


7.


Controlling party

The immediate parent Company is Hedonism Drinks Limited, a Company registered in England and Wales.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2022 was unqualified.

The audit report was signed on 24 November 2023 by Geeta Morgan FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 6