Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01falsefalseNo description of principal activity3529truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12180531 2022-08-01 2023-07-31 12180531 2021-08-01 2022-07-31 12180531 2023-07-31 12180531 2022-07-31 12180531 c:Director1 2022-08-01 2023-07-31 12180531 c:Director2 2022-08-01 2023-07-31 12180531 c:RegisteredOffice 2022-08-01 2023-07-31 12180531 d:Buildings d:LongLeaseholdAssets 2022-08-01 2023-07-31 12180531 d:Buildings d:LongLeaseholdAssets 2023-07-31 12180531 d:Buildings d:LongLeaseholdAssets 2022-07-31 12180531 d:LandBuildings 2023-07-31 12180531 d:LandBuildings 2022-07-31 12180531 d:FurnitureFittings 2022-08-01 2023-07-31 12180531 d:FurnitureFittings 2023-07-31 12180531 d:FurnitureFittings 2022-07-31 12180531 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12180531 d:ComputerEquipment 2022-08-01 2023-07-31 12180531 d:ComputerEquipment 2023-07-31 12180531 d:ComputerEquipment 2022-07-31 12180531 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12180531 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12180531 d:Goodwill 2022-08-01 2023-07-31 12180531 d:Goodwill 2023-07-31 12180531 d:Goodwill 2022-07-31 12180531 d:CurrentFinancialInstruments 2023-07-31 12180531 d:CurrentFinancialInstruments 2022-07-31 12180531 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12180531 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12180531 d:ShareCapital 2023-07-31 12180531 d:ShareCapital 2022-07-31 12180531 d:RetainedEarningsAccumulatedLosses 2023-07-31 12180531 d:RetainedEarningsAccumulatedLosses 2022-07-31 12180531 c:OrdinaryShareClass1 2022-08-01 2023-07-31 12180531 c:OrdinaryShareClass1 2023-07-31 12180531 c:OrdinaryShareClass1 2022-07-31 12180531 c:FRS102 2022-08-01 2023-07-31 12180531 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12180531 c:FullAccounts 2022-08-01 2023-07-31 12180531 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12180531 d:WithinOneYear 2023-07-31 12180531 d:WithinOneYear 2022-07-31 12180531 d:BetweenOneFiveYears 2023-07-31 12180531 d:BetweenOneFiveYears 2022-07-31 12180531 d:MoreThanFiveYears 2023-07-31 12180531 d:MoreThanFiveYears 2022-07-31 12180531 d:Goodwill d:OwnedIntangibleAssets 2022-08-01 2023-07-31 12180531 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 12180531












RML PUBS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 

RML PUBS LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 10


 

RML PUBS LIMITED
 
COMPANY INFORMATION


Directors
CB McLaughlin  
NE McLaughlin 




Registered number
12180531



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:12180531
RML PUBS LIMITED

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
20,002
30,001

Tangible assets
 5 
296,706
142,645

  
316,708
172,646

Current assets
  

Stocks
  
10,500
6,850

Debtors: amounts falling due within one year
 6 
16,986
19,179

Bank and cash balances
  
29,987
17,906

  
57,473
43,935

Creditors: amounts falling due within one year
 7 
(1,335,100)
(850,880)

Net current liabilities
  
 
 
(1,277,627)
 
 
(806,945)

Net liabilities
  
(960,919)
(634,299)


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
(960,921)
(634,301)

Total shareholders' deficit
  
(960,919)
(634,299)


Page 2


 
REGISTERED NUMBER:12180531
RML PUBS LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




CB McLaughlin
Director

Date: 30 July 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

RML Pubs Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, United Kingdom,   WC2B 5AH.
                                                                                                                                                                                                                                                                                                                                               The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.   

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency of £960,919 (2022: £634,299) on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Page 4

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 5

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 6

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over 20 years
Fixtures and fittings
-
25%
SLM
Computer equipment
-
25%
SLM

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 7

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2022 -29).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
49,999



At 31 July 2023

49,999



Amortisation


At 1 August 2022
19,998


Charge for the year
9,999



At 31 July 2023

29,997



Net book value



At 31 July 2023
20,002



At 31 July 2022
30,001



Page 8

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
82,731
122,709
4,534
209,974


Additions
177,734
16,161
3,300
197,195



At 31 July 2023

260,465
138,870
7,834
407,169



Depreciation


At 1 August 2022
8,409
57,323
1,597
67,329


Charge for the year
9,186
32,092
1,856
43,134



At 31 July 2023

17,595
89,415
3,453
110,463



Net book value



At 31 July 2023
242,870
49,455
4,381
296,706



At 31 July 2022
74,322
65,386
2,937
142,645




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
242,870
74,322

242,870
74,322



6.


Debtors

2023
2022
£
£


Trade debtors
10,513
10,547

Other debtors
19
3,076

Prepayments and accrued income
6,454
5,556

16,986
19,179


Page 9

 

RML PUBS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
19,170
-

Other taxation and social security
13,002
27,117

Other creditors
1,294,928
815,763

Accruals and deferred income
8,000
8,000

1,335,100
850,880



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 -2) Ordinary shares of £1.00 each
2
2



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,723 (2022: £3,860). Contributions totalling £1,395 (2022: £2,055) were receivable from the fund at the balance sheet date and are included in other debtors.


10.


Commitments under operating leases

At 31 July 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
75,996
75,996

Later than 1 year and not later than 5 years
227,988
227,988

Later than 5 years
987,949
1,063,945

1,291,933
1,367,929


11.


Related party transactions

Included within other creditors, there is an amount of £1,296,053 (2022: £817,818), which is owed to one of the directors. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

 
Page 10