Company registration number 08355734 (England and Wales)
CONINGTON PUB CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CONINGTON PUB CO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CONINGTON PUB CO LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,378
18,852
Investment property
5
302,220
302,220
318,598
321,072
Current assets
Cash at bank and in hand
23,123
13,625
Creditors: amounts falling due within one year
6
(454,690)
(455,148)
Net current liabilities
(431,567)
(441,523)
Net liabilities
(112,969)
(120,451)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(113,069)
(120,551)
Total equity
(112,969)
(120,451)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 April 2024 and are signed on its behalf by:
Mrs Gerlinde Williams
Director
Company registration number 08355734 (England and Wales)
CONINGTON PUB CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Conington Pub Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is Conington Hall, High Street, Conington, Cambridge, CB23 4LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Mrtrues Gerlinde Williams has agreed to continue her financial support of the company for the foreseeable future therefore the accounts have been prepared on a going concern basis.
1.3
Turnover
Turnover represents rent and associated recharges invoiced to the tenants of the investment property, net of VAT. Rent is recognised on an accruals basis.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on cost
Fixtures, fittings & equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment property
Investment property, which is property held in accordance with the principal activity of the company, is measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
CONINGTON PUB CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
2
Employees
The company had no employees in either the current or comparative years.
3
Taxation
At the reporting date the company had tax losses of £127,818 (2023: £137,474) to offset against future profits.
CONINGTON PUB CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
54,993
Additions
4,393
At 31 January 2024
59,386
Depreciation and impairment
At 1 February 2023
36,141
Depreciation charged in the year
6,867
At 31 January 2024
43,008
Carrying amount
At 31 January 2024
16,378
At 31 January 2023
18,852
5
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
302,220
Investment property comprises a pub. The fair value of the investment property has been arrived at on the basis of a valuation carried out in September 2015 by Chartered Surveyors who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors consider this valuation still represents the fair value of the investment property at the reporting date.
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
205
662
Other creditors
454,485
454,486
454,690
455,148
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
CONINGTON PUB CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
8
Related party transactions
At the year end the company owed a director £446,636 (2023: £446,636). This amount is unsecured, interest free and repayable on demand.