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Company No: 07040800 (England and Wales)

THE JOLLY HOG CONCESSIONS LIMITED

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

THE JOLLY HOG CONCESSIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

THE JOLLY HOG CONCESSIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
THE JOLLY HOG CONCESSIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 101,473 161,020
101,473 161,020
Current assets
Stocks 39,626 46,552
Debtors 4 46,123 15,339
Cash at bank and in hand 102 88
85,851 61,979
Creditors: amounts falling due within one year 5 ( 621,192) ( 585,987)
Net current liabilities (535,341) (524,008)
Total assets less current liabilities (433,868) (362,988)
Creditors: amounts falling due after more than one year 6 ( 19,097) ( 37,887)
Provision for liabilities ( 22,977) ( 40,231)
Net liabilities ( 475,942) ( 441,106)
Capital and reserves
Called-up share capital 7 106 106
Profit and loss account ( 476,048 ) ( 441,212 )
Total shareholder's deficit ( 475,942) ( 441,106)

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 Concessions Limited (registered number: 07040800) 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 CONCESSIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
THE JOLLY HOG CONCESSIONS 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 Concessions 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, Wapping Wharf, Bristol, BS1 6ZA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 note that the business has net liabilities of £475,942. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 on a straight-line basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 10 years straight line
Vehicles 7 years straight line
Fixtures and fittings 10 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 16

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 October 2022 10,399 298,593 72,520 62,373 443,885
Additions 0 1,635 10,000 0 11,635
Disposals 0 0 0 ( 60,913) ( 60,913)
Transfers 0 1,460 0 ( 1,460) 0
0 0 0 0 0
At 30 September 2023 10,399 301,688 82,520 0 394,607
Accumulated depreciation
At 01 October 2022 10,399 216,551 40,123 15,792 282,865
Charge for the financial year 0 22,204 3,501 0 25,705
Disposals 0 0 0 ( 15,436) ( 15,436)
Transfers 0 356 0 ( 356) 0
At 30 September 2023 10,399 239,111 43,624 0 293,134
Net book value
At 30 September 2023 0 62,577 38,896 0 101,473
At 30 September 2022 0 82,042 32,397 46,581 161,020

4. Debtors

2023 2022
£ £
Trade debtors 17,017 11,495
Amounts owed by Group undertakings 26,953 0
Amounts owed by directors 261 261
Prepayments and accrued income 1,892 3,583
46,123 15,339

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 52,568 49,292
Trade creditors 19,618 24,942
Amounts owed to Group undertakings 472,701 432,460
Amounts owed to directors 9,042 9,042
Accruals 17,279 19,536
Other taxation and social security 40,998 39,978
Obligations under finance leases and hire purchase contracts (secured) 8,635 10,537
Other creditors 351 200
621,192 585,987

Hire purchase contracts are secured by assets to which they relate.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 19,097 29,097
Obligations under finance leases and hire purchase contracts 0 8,790
19,097 37,887

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
106 Ordinary shares of £ 1.00 each 106 106

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 351 151

9. Related party transactions

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.

At the year end, an amount of £260 (2022: £260) was owed from a director of the company. This loan is interest free, and has no fixed date for repayment.

At the year end, an amount of £9,042 (2022: £9,042) was owed to directors of the company. This loan is interest free, and has no fixed date for repayment.