10 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 13,500 561 14,061 14,061 13,500 39,846 331 40,177 8,938 4,069 13,007 27,170 30,908 xbrli:pure xbrli:shares iso4217:GBP 10444542 2022-11-01 2023-10-31 10444542 2023-10-31 10444542 2022-10-31 10444542 2021-11-01 2022-10-31 10444542 2022-10-31 10444542 2021-10-31 10444542 core:FurnitureFittings 2022-11-01 2023-10-31 10444542 bus:Director1 2022-11-01 2023-10-31 10444542 bus:Director2 2022-11-01 2023-10-31 10444542 core:FurnitureFittings 2022-10-31 10444542 core:FurnitureFittings 2023-10-31 10444542 core:PatentsTrademarksLicencesConcessionsSimilar 2022-11-01 2023-10-31 10444542 core:AfterOneYear 2023-10-31 10444542 core:AfterOneYear 2022-10-31 10444542 core:WithinOneYear 2023-10-31 10444542 core:WithinOneYear 2022-10-31 10444542 core:ShareCapital 2023-10-31 10444542 core:ShareCapital 2022-10-31 10444542 core:RetainedEarningsAccumulatedLosses 2023-10-31 10444542 core:RetainedEarningsAccumulatedLosses 2022-10-31 10444542 core:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 10444542 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 10444542 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 10444542 core:FurnitureFittings 2022-10-31 10444542 bus:Director1 2022-10-31 10444542 bus:Director1 2023-10-31 10444542 bus:Director2 2022-10-31 10444542 bus:Director2 2023-10-31 10444542 bus:Director1 2021-10-31 10444542 bus:Director1 2022-10-31 10444542 bus:Director2 2022-10-31 10444542 bus:Director1 2021-11-01 2022-10-31 10444542 bus:Director2 2021-11-01 2022-10-31 10444542 bus:SmallEntities 2022-11-01 2023-10-31 10444542 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10444542 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 10444542 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10444542 bus:FullAccounts 2022-11-01 2023-10-31 10444542 core:CloseFamilyMember1 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 10444542
Old Wooden Door Pub Company Limited
Filleted Unaudited Financial Statements
31 October 2023
Old Wooden Door Pub Company Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
14,061
13,500
Tangible assets
6
27,170
30,908
--------
--------
41,231
44,408
Current assets
Stocks
7,289
8,601
Debtors
7
14,853
15,429
Cash at bank and in hand
15,099
23,942
--------
--------
37,241
47,972
Creditors: amounts falling due within one year
8
43,026
28,992
--------
--------
Net current (liabilities)/assets
( 5,785)
18,980
--------
--------
Total assets less current liabilities
35,446
63,388
Creditors: amounts falling due after more than one year
9
57,786
59,924
--------
--------
Net (liabilities)/assets
( 22,340)
3,464
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 22,440)
3,364
--------
-------
Shareholders (deficit)/funds
( 22,340)
3,464
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Old Wooden Door Pub Company Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr L Davies
Director
Company registration number: 10444542
Old Wooden Door Pub Company Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cowick Barton, Cowick Lane, Exeter, EX2 9HF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Ther company had net liabilities of £22,340, however, there was long term loans of £43,087 and a Directors loan of £14,699 both of which are not repayable within one year. It is the Directors view that the company is a going concern for the foreseeable next twelve months.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 November 2022
13,500
Additions
561
--------
At 31 October 2023
14,061
--------
Amortisation
At 1 November 2022 and 31 October 2023
--------
Carrying amount
At 31 October 2023
14,061
--------
At 31 October 2022
13,500
--------
6. Tangible assets
Fixtures and fittings
£
Cost
At 1 November 2022
39,846
Additions
331
--------
At 31 October 2023
40,177
--------
Depreciation
At 1 November 2022
8,938
Charge for the year
4,069
--------
At 31 October 2023
13,007
--------
Carrying amount
At 31 October 2023
27,170
--------
At 31 October 2022
30,908
--------
7. Debtors
2023
2022
£
£
Other debtors
14,853
15,429
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
16,132
8,722
Social security and other taxes
16,842
16,445
Other creditors
10,052
3,825
--------
--------
43,026
28,992
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
43,087
43,485
Other creditors
14,699
16,439
--------
--------
57,786
59,924
--------
--------
10. Financial instruments
For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed.
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr L Davies
( 8,281)
931
( 7,350)
Mrs L Davies
( 8,158)
809
( 7,349)
--------
-------
--------
( 16,439)
1,740
( 14,699)
--------
-------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr L Davies
( 124)
( 8,157)
( 8,281)
Mrs L Davies
( 8,158)
( 8,158)
----
--------
--------
( 124)
( 16,315)
( 16,439)
----
--------
--------
12. Related party transactions
The Company was under the control of Mr and Mrs Davies throughout the current and previous year. There is a directors investment loan of £14,699 owed back to the director.