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Registration number: 06595635

The Bolingbroke Pub Limited

Filleted Financial Statements

for the Year Ended 31 March 2023

 

The Bolingbroke Pub Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

The Bolingbroke Pub Limited

Company Information

Directors

N M Fox

T Peake

M E L Reynolds

Registered office

172-174 Northcote Road
London
SW11 6RE

Auditors

Carbon Accountancy Limited
Chartered Accountants and Statutory Auditors
80-83 Long Lane
London
EC1A 9ET

 

The Bolingbroke Pub Limited

(Registration number: 06595635)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,916,997

163,448

Current assets

 

Stocks

5

17,729

14,031

Debtors

6

182,669

219,223

Cash at bank and in hand

 

31,886

168,593

 

232,284

401,847

Creditors: Amounts falling due within one year

7

(1,811,106)

(329,747)

Net current (liabilities)/assets

 

(1,578,822)

72,100

Net assets

 

338,175

235,548

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

338,174

235,547

Shareholders' funds

 

338,175

235,548

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
N M Fox
Director

 

The Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 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:
172-174 Northcote Road
London
SW11 6RE

These financial statements were authorised for issue by the Board on 28 November 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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 November 2023 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

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

Revenue recognition

Revenue is recognised when bar and food products are served to customers, after deducting discounts and sales-based taxes. Deposits received in respect of advanced bookings are deferred until the relevant services are provided.

Government grants

Money received in the form of a government grant is treated as a revenue grant. Therefore, grant income is recorded within other income in the income statement on a systematic basis in the same periods as the related expenses occurred.

 

The Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current 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.

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

Fixture, fittings and equipments

10% straight line

Leasehold improvements

20% straight line

Freehold buildings

2% 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 Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 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.

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 year, was 27 (2022 - 19).

 

The Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Leasehold improvements
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2022

-

239,411

190,847

430,258

Additions

1,770,000

-

21,464

1,791,464

Disposals

-

(70,000)

-

(70,000)

At 31 March 2023

1,770,000

169,411

212,311

2,151,722

Depreciation

At 1 April 2022

-

139,126

127,684

266,810

Charge for the year

-

11,971

11,944

23,915

Eliminated on disposal

-

(56,000)

-

(56,000)

At 31 March 2023

-

95,097

139,628

234,725

Carrying amount

At 31 March 2023

1,770,000

74,314

72,683

1,916,997

At 31 March 2022

-

100,285

63,163

163,448

Included within the net book value of land and buildings above is £1,770,000 (2022 - £Nil) in respect of freehold land and buildings.

5

Stocks

2023
£

2022
£

Stock

17,729

14,031

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

351

351

Amounts owed by related parties

11

159,500

199,500

Prepayments

 

22,015

18,662

Other debtors

 

803

710

   

182,669

219,223

 

The Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

61,710

46,592

Amounts owed to group undertakings

11

281,334

151,334

Taxation and social security

 

56,133

128,319

Accruals and deferred income

 

3,350

3,350

Other creditors

 

1,408,579

152

 

1,811,106

329,747

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

77,917

85,000

Later than one year and not later than five years

-

340,000

Later than five years

-

1,389,110

77,917

1,814,110

10

Financial commitments, guarantees and contingencies

HSBC Bank plc has the right to set-off bank balances of The Bolingbroke Pub Limited against other group companies bank debts. The Company has provided intercompany guarantees to HSBC Bank plc in respect of all debts due.

 

The Bolingbroke Pub Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

11

Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 Para 33.1A and has not reported transactions with Three Cheers Pub Company Limited nor with other wholly owned members of the group.

12

Parent and ultimate parent undertaking

The company's immediate parent is Three Cheers Pub Company Limited, incorporated in England and Wales.