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Company No: 10884905 (England and Wales)

THE JOLLY HOG RETAIL LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

THE JOLLY HOG RETAIL LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

THE JOLLY HOG RETAIL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
THE JOLLY HOG RETAIL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 8,824 11,471
8,824 11,471
Current assets
Stocks 4,965 34,143
Debtors 4 726,073 1,135,547
Cash at bank and in hand 241,089 9,492
972,127 1,179,182
Creditors: amounts falling due within one year 5 ( 732,822) ( 901,207)
Net current assets 239,305 277,975
Total assets less current liabilities 248,129 289,446
Provision for liabilities 0 ( 2,868)
Net assets 248,129 286,578
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 248,029 286,478
Total shareholder's funds 248,129 286,578

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Jolly Hog Retail Limited (registered number: 10884905) were approved and authorised for issue by the Director on 01 February 2024. They were signed on its behalf by:

M Kohn
Director
THE JOLLY HOG RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
THE JOLLY HOG RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Jolly Hog Retail Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Jolly Hog, Hog Hq, Museum Street, Whapping Wharf, Bristol, BS1 6ZA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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, and loans to and from related parties. Basic financial instruments are carried as mortised cost using the effective interest method. Financial instruments which fall due within one year are not amortised.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 October 2022 13,236 13,236
At 30 September 2023 13,236 13,236
Accumulated depreciation
At 01 October 2022 1,765 1,765
Charge for the financial year 2,647 2,647
At 30 September 2023 4,412 4,412
Net book value
At 30 September 2023 8,824 8,824
At 30 September 2022 11,471 11,471

4. Debtors

2023 2022
£ £
Trade debtors 134,964 249,509
Amounts owed by fellow subsidiaries 484,162 306,073
Prepayments and accrued income 106,947 579,965
726,073 1,135,547

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 43,670 7,102
Amounts owed to Group undertakings 541,149 407,806
Amounts owed to directors 5 5
Accruals and deferred income 4,684 340,515
Taxation and social security 143,314 145,779
732,822 901,207

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.