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Registration number: 10848410

Maverick Pubs Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Maverick Pubs Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Maverick Pubs Limited

(Registration number: 10848410)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

2,250,000

-

Cash at bank and in hand

 

87,248

2,814,112

 

2,337,248

2,814,112

Creditors: Amounts falling due within one year

5

(5,754,990)

(5,831,979)

Total assets less current liabilities

 

(3,417,742)

(3,017,867)

Creditors: Amounts falling due after more than one year

5

-

(28,333)

Net liabilities

 

(3,417,742)

(3,046,200)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(3,417,743)

(3,046,201)

Shareholders' deficit

 

(3,417,742)

(3,046,200)

 

Maverick Pubs Limited

(Registration number: 10848410)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 August 2024
 

.........................................
C G E Corbally
Director

 

Maverick Pubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6th Floor St Magnus House
3 Lower Thames Street
London
EC3R 6HD
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Maverick Pubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Going concern

The financial statements have been prepared on a going concern basis. The company is reliant on the financial support of its Directors and parent company, Maverick Pubs (Holdings) Limited. The company sold a freehold property in October 2022 and is looking to cease trading in the near future.

Revenue recognition

Turnover is primarily derived from pub operations, including food and beverage sales and the hosting of private function events. Turnover is recognised when functions are held and when food and beverages are sold.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 9).

4

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

2,250,000

-

 

2,250,000

-

 

Maverick Pubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

-

10,000

Amounts owed to group and associate undertakings

5,749,990

5,749,990

Taxation and social security

-

65,968

Other creditors

5,000

6,021

5,754,990

5,831,979

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

-

28,333

 

Maverick Pubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

10,000

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

28,333

7

Parent and ultimate parent undertaking

The company's immediate parent is Maverick Pubs (Holdings) Limited, incorporated in England and Wales.