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Registration number: 14283146

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Annual Report and Unaudited Financial Statements

for the Period from 8 August 2022 to 31 August 2023

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

Detailed Profit and Loss Account

13 to 15

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Company Information

Director

S Higgins

Registered office

4-6 The Stable Block Courtyard
Leigh Court Business Centre
Bristol
BS8 3RA

Accountants

Herbert Lewis Williams & Associates Limited
Chartered Certified Accountants
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Director's Report for the Period from 8 August 2022 to 31 August 2023

The director presents his report and the financial statements for the period from 8 August 2022 to 31 August 2023.

Incorporation

The company was incorporated on 8 August 2022.

Director of the company

The director who held office during the period was as follows:

S Higgins (appointed 8 August 2022)

Principal activity

The principal activity of the company is of running a public house

Small companies provision statement

This report has 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.

Approved and authorised by the director on 20 February 2024
 

.........................................
S Higgins
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Oak Clevedon Ltd

trading as Royal Oak Clevedon
for the Period Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Oak Clevedon Ltd for the period ended 31 August 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of The Oak Clevedon Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Oak Clevedon Ltd and state those matters that we have agreed to state to the Board of Directors of The Oak Clevedon Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Oak Clevedon Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Oak Clevedon Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Oak Clevedon Ltd. You consider that The Oak Clevedon Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of The Oak Clevedon Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Herbert Lewis Williams & Associates Limited
Chartered Certified Accountants
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

20 February 2024

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Profit and Loss Account for the Period from 8 August 2022 to 31 August 2023

Note

2023
£

Turnover

 

104,099

Cost of sales

 

(10,199)

Gross profit

 

93,900

Administrative expenses

 

(79,093)

Other operating income

 

7,025

Operating profit

 

21,832

Other interest receivable and similar income

 

54

Interest payable and similar expenses

 

(23)

   

31

Profit before tax

4

21,863

Tax on profit

 

(3,927)

Profit for the financial period

 

17,936

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Statement of Comprehensive Income for the Period from 8 August 2022 to 31 August 2023

2023
£

Profit for the period

17,936

Total comprehensive income for the period

17,936

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

(Registration number: 14283146)
Balance Sheet as at 31 August 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

942

Current assets

 

Debtors

6

3,080

Cash at bank and in hand

 

13,257

 

16,337

Creditors: Amounts falling due within one year

7

(12,793)

Net current assets

 

3,544

Net assets

 

4,486

Capital and reserves

 

Called up share capital

8

50

Retained earnings

4,436

Shareholders' funds

 

4,486

For the financial period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 20 February 2024
 

.........................................
S Higgins
Director

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Statement of Changes in Equity for the Period from 8 August 2022 to 31 August 2023

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

17,936

17,936

Dividends

-

(13,500)

(13,500)

New share capital subscribed

50

-

50

At 31 August 2023

50

4,436

4,486

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Notes to the Unaudited Financial Statements for the Period from 8 August 2022 to 31 August 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:
4-6 The Stable Block Courtyard
Leigh Court Business Centre
Bristol
BS8 3RA

These financial statements were authorised for issue by the director on 20 February 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Notes to the Unaudited Financial Statements for the Period from 8 August 2022 to 31 August 2023

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

Fixtures & Fittings

Straight line - 15%

Office Equipment

Straight line - 20%

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.

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.

Borrowings

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Notes to the Unaudited Financial Statements for the Period from 8 August 2022 to 31 August 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the period, was 6.

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

Depreciation expense

172

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Notes to the Unaudited Financial Statements for the Period from 8 August 2022 to 31 August 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,114

1,114

At 31 August 2023

1,114

1,114

Depreciation

Charge for the period

172

172

At 31 August 2023

172

172

Carrying amount

At 31 August 2023

942

942

6

Debtors

Current

2023
£

Other debtors

3,080

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

9

3,032

Trade creditors

 

123

Taxation and social security

 

9,261

Other creditors

 

377

 

12,793

8

Share capital

Allotted, called up and fully paid shares

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Notes to the Unaudited Financial Statements for the Period from 8 August 2022 to 31 August 2023

 

2023

 

No.

£

Ordinary share of £1 each

50

50

     

9

Loans and borrowings

2023
£

Current loans and borrowings

Bank overdrafts

3,032

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Detailed Profit and Loss Account for the Period from 8 August 2022 to 31 August 2023

8 August 2022 to 31 August 2023
 £

turnover

104,099

Cost of sales

(10,199)

Gross profit

93,900

Gross profit (%)

90.2%

Administrative expenses

Employment costs

64,994

Establishment costs

4,272

General administrative expenses

9,470

Finance charges

185

Depreciation costs

172

79,093

Other operating income

7,025

Operating profit

21,832

Other interest receivable and similar income

54

Interest payable and similar charges

(23)

31

Profit before tax

21,863

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Detailed Profit and Loss Account for the Period from 8 August 2022 to 31 August 2023

2023
£

 

Turnover

Catering sales

14,208

Machine income

1,388

Commissions receivable

88,503

104,099

 

Cost of sales

Bar purchases

1,879

Catering purchases

7,186

Machine costs

1,134

10,199

 

Employment costs

Wages and salaries (excluding directors)

63,889

Staff pensions (Defined contribution)

1,105

64,994

 

Establishment costs

Rent

585

Insurance

736

Repairs and maintenance

2,951

4,272

 

General administrative expenses

Printing, postage and stationery

265

Sundry expenses

1,625

Cleaning

1,232

Entertainment

3,058

Accountancy fees

3,290

9,470

 

Finance charges

Bank charges

185

 

Depreciation costs

Depreciation of fixtures and fittings (owned)

123

Depreciation of office equipment (owned)

49

172

 

The Oak Clevedon Ltd

trading as Royal Oak Clevedon

Detailed Profit and Loss Account for the Period from 8 August 2022 to 31 August 2023

2023
£

 

Other operating income

Other operating income

7,025

 

Other interest receivable and similar income

Bank interest receivable

54

 

Interest payable and similar expenses

Other interest payable

23