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REGISTERED NUMBER: 04279974 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

CITYGLEN PUB CO. LIMITED

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITYGLEN PUB CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2022







DIRECTOR: T A O'Leary





SECRETARY: Miss C Best





REGISTERED OFFICE: 1st Floor, Commerce House
1 Raven Road
South Woodford
London
E18 1HB





REGISTERED NUMBER: 04279974 (England and Wales)

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

BALANCE SHEET
30 JUNE 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,716,711 1,800,001
1,716,711 1,800,001

CURRENT ASSETS
Stocks 96,311 61,317
Debtors 6 925,230 901,834
Cash at bank and in hand 85,308 109,907
1,106,849 1,073,058
CREDITORS
Amounts falling due within one year 7 1,838,738 1,948,316
NET CURRENT LIABILITIES (731,889 ) (875,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

984,822

924,743

CREDITORS
Amounts falling due after more than one
year

8

(1,059,204

)

(847,171

)

PROVISIONS FOR LIABILITIES (41,770 ) (49,269 )
NET (LIABILITIES)/ASSETS (116,152 ) 28,303

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (117,152 ) 27,303
SHAREHOLDERS' FUNDS (116,152 ) 28,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

BALANCE SHEET - continued
30 JUNE 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





T A O'Leary - Director


CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1. STATUTORY INFORMATION

Cityglen Pub Co Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 04279974 and the registered office address is 1st Floor Commerce House, 1 Raven Road, South Woodford, London, E18 1HB.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents bar takings, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the balance sheet date the company had net liabilities of £116,152 (2021: net current liabilities of £875,258) The director believes that the company, with his and the associated companies' continued support, has adequate resources to continue to operate. The director considers it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the director was not continued.

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

2. ACCOUNTING POLICIES - continued

Intangible assets
Development expenditure

Development of products is capitalised where there is expected to be a benefit to future periods and the following conditions are met:

(i) It is technically feasible to complete the research or development so that the product will be available for use or sale.

(ii) It is intended to use or sell the product being developed.

(iii) The Company is able to use or sell the product.

(iv) It can be demonstrated that the product will generate probable future economic benefits.

(v) Adequate technical, financial and other resources exist so that product development can be completed and subsequently used or sold.

(vi) Expenditure attributable to the research and development work can be reliably measured.

During the year the company decided to develop the provision of food and catering, having identified a number of its public houses which it was considered would benefit from this higher end catering.

This development process involves the design of kitchens incorporating various food preparation and cooking techniques.

Chefs and leading market experts were engaged to compile a number of innovative menus, which are going through trial stages and continue to be developed. This development includes refining the sourcing of ingredients from various suppliers around the country.

In view of the above nature of this expenditure these costs are considered to be of a capital nature and not a realised loss.

Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:

Catering development costs - 2 years

All other research and development expenditure is recognised as an expense in the period in which it is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2021 - 63 ) .

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 July 2021
and 30 June 2022 317,440
AMORTISATION
At 1 July 2021
and 30 June 2022 317,440
NET BOOK VALUE
At 30 June 2022 -
At 30 June 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 July 2021 2,070,869 364,715 340,292
Additions - - 17,493
At 30 June 2022 2,070,869 364,715 357,785
DEPRECIATION
At 1 July 2021 536,924 213,345 231,380
Charge for year 42,611 30,274 25,280
At 30 June 2022 579,535 243,619 256,660
NET BOOK VALUE
At 30 June 2022 1,491,334 121,096 101,125
At 30 June 2021 1,533,945 151,370 108,912

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 July 2021 11,203 13,015 2,800,094
Additions - - 17,493
At 30 June 2022 11,203 13,015 2,817,587
DEPRECIATION
At 1 July 2021 5,601 12,843 1,000,093
Charge for year 2,801 (183 ) 100,783
At 30 June 2022 8,402 12,660 1,100,876
NET BOOK VALUE
At 30 June 2022 2,801 355 1,716,711
At 30 June 2021 5,602 172 1,800,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 3,402 3,214
Other debtors 921,828 898,620
925,230 901,834

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts 51,477 22,222
Trade creditors 1,023,267 946,508
Taxation and social security 347,779 314,641
Other creditors 416,215 664,945
1,838,738 1,948,316

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£ £
Bank loans 186,618 -
Other creditors 872,586 847,171
1,059,204 847,171

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£ £
Within one year - 827,500
Between one and five years - 827,500
- 1,655,000

10. RELATED PARTY DISCLOSURES

Cityglen Limited
T O'Leary is a director and shareholder in the company.

During the year the company invoiced Cityglen Limited £424,005 (2021: £544,778) for the provision of rental accommodation. The amount due from the related party at the year end date was £247,620 (2021: £190,671).

Leacroft Services Limited
T O'Leary is a director and shareholder in the company.

During the year Leacroft Services Limited charged the company loan interest of £25,415 (2021: £24,675). The company has provided an unlimited guarantee to the Bank of Cyprus UK Limited as security for their loan to Leacroft Services Limited. The amount due to the related party at the year end date was £872,587 (2021: £847,172).

Whybrook Developments Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £101,249 (2021: £101,249).

Cityglen Investment Group Limited
T O'Leary is a director and shareholder in the company.

During the year company received £144,778 fron Cityglen Investment Group Limited.The amount due from the related party at the year end date was £264,371 (2021:£409,149).

Whybrook Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £1,875 (2021:£1,875).

Euro Acquisitions Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £577 (2021:£577).

Ambassador Ventures Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year.The amount due from the related party at the year end date was £6,064 (2021:£6,064).