Company registration number 09418724 (England and Wales)
LAYER MARNEY PUB THREE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
LAYER MARNEY PUB THREE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LAYER MARNEY PUB THREE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
523,166
543,848
Current assets
Stocks
9,192
9,025
Debtors
5
20,120
16,988
Cash at bank and in hand
23,712
20,682
53,024
46,695
Creditors: amounts falling due within one year
6
(1,279,952)
(1,278,359)
Net current liabilities
(1,226,928)
(1,231,664)
Net liabilities
(703,762)
(687,816)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(703,763)
(687,817)
Total equity
(703,762)
(687,816)

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 member has 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 11 July 2024 and are signed on its behalf by:
Mrs C M Compton
Director
Company Registration No. 09418724
LAYER MARNEY PUB THREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Layer Marney Pub Three Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Streets Whittle & Partners LLP, The Old Exchange, 64 West Stockwell Street, Colchester, Essex, CO1 1HE. The principal place of business is The Layer Fox, 2 Malting Green Road, Layer de la Haye, Colchester, CO2 0JH.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The previous financial statements cover the 11 months ending 31 January 2023. The previous accounting period was shortened in order to bring the year end in line with the other group entities. As a result, the comparative amounts presented in these financial statements are not entirely comparable.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Land and buildings Freehold
2% straight line
Kitchen equipment
20% striaght line
Fixtures, fittings and office equipment
33% Straight line and 10% reducing balance

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
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.

LAYER MARNEY PUB THREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

 

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
14
13
LAYER MARNEY PUB THREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
4
Tangible fixed assets
Land and buildings Freehold
Kitchen equipment
Fixtures, fittings and office equipment
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
629,287
54,976
27,071
711,334
Depreciation and impairment
At 1 February 2023
98,541
49,312
19,633
167,486
Depreciation charged in the year
12,586
5,664
2,432
20,682
At 31 January 2024
111,127
54,976
22,065
188,168
Carrying amount
At 31 January 2024
518,160
-
0
5,006
523,166
At 31 January 2023
530,746
5,664
7,438
543,848
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
20,120
16,988
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,345
12,150
Amounts owed to group undertakings
1
1
Taxation and social security
9,172
4,188
Other creditors
1,261,434
1,262,020
1,279,952
1,278,359
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
LAYER MARNEY PUB THREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
8
Parent company

The ultimate parent company is Layer Marney Pubs Limited, a company registered in England and Wales.

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