REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
FOR |
CITYGLEN PUB CO. LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974) |
BALANCE SHEET |
30 JUNE 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
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 |
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 |
Turnover |
Turnover represents bar takings, excluding value added tax. |
Tangible fixed assets |
Plant and machinery etc | - |
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 |
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 |
AMORTISATION |
At 1 July 2021 |
and 30 June 2022 |
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 |
Additions |
At 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
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 |
Additions |
At 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year | ( |
) |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Other creditors |
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 |
Between one and five years |
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). |