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Registered number: 14505262










CHILLED PUBS (EAST LEAKE) LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
CHILLED PUBS (EAST LEAKE) LTD
REGISTERED NUMBER: 14505262

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 5 
2,745,830

  
2,745,830

Current assets
  

Stocks
 6 
48,906

Debtors: amounts falling due within one year
 7 
442,434

Cash at bank and in hand
 8 
112,190

  
603,530

Creditors: amounts falling due within one year
 9 
(3,272,547)

Net current (liabilities)/assets
  
 
 
(2,669,017)

Total assets less current liabilities
  
76,813

Provisions for liabilities
  

Deferred tax
  
(220,943)

Net (liabilities)/assets
  
(144,130)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(144,230)

  
(144,130)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 statement of comprehensive income 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 on 7 August 2024.




R M Pope
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
CHILLED PUBS (EAST LEAKE) LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period
-
(144,230)
(144,230)
Total comprehensive income for the period
-
(144,230)
(144,230)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 31 December 2023
100
(144,230)
(144,130)

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Chilled Pubs (East Leake) Limited is a private company limited by shares and incorporated in England. The Company's registered office is The Joiners Arms, 60 Church Road, Quarndon, Derby, United Kingdom, DE22 5JA. The Company's registration number is 14505262. The nature of the Company's
operations and principal activities is the operation of a public house.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The Company's functional and presentational currency is GBP. 
The Company has prepared it's financial statements to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Chilled Pubs Limited as at 31 December 2023 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

The Directors believe that the Company's financial statements should be prepared on a going
concern basis and have considered a period of twelve months from the date of approval of these
financial statements.
The Company is loss making in the period ended 31 December 2023 and has net liabilities at the balance sheet date, as such the Group has provided a letter of support stating that it will continue to provide financial support to the Company for at least 12 months following the date of approval of these financial statements. 
After consideration of the Company and wider Group's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational
existence for the foreseeable future. As such the Company continues to adopt the going concern
basis in preparing it's financial statements.

Page 3

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that 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. 
Revenue is recognised at the point of sale of goods, except for revenues generated from gift cards
sold and loyalty points awarded. Revenues generated in respect of gift cards sold and loyalty points
awarded are deferred and only recognised upon the redemption or expiration of these, whichever
comes earlier.

 
2.5

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.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

Page 4

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Freehold property
-
No depreciation provided for (see note 3)
Property improvements
-
10% straight line
Plant and machinery
-
10-33% straight line

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less
costs to sell.
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 sell. The impairment loss is recognised
immediately in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
 
Page 5

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors do not consider there to be any key sources of estimation uncertainty, other than not
providing for depreciation on freehold property based on the opinion that the estimated residual value of
the buildings are not materially different from the carrying value of the building.


4.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


     Period ended
     31 December
        2023
            No.






Employees
50


5.


Tangible fixed assets





Freehold property
Property improvements
Plant and machinery
Total

£
£
£
£



Cost 


Additions
1,056,603
915,533
873,193
2,845,329


Transfers intra group
-
-
7,500
7,500



At 31 December 2023

1,056,603
915,533
880,693
2,852,829



Depreciation


Charge for the period on owned assets
-
35,213
71,786
106,999



At 31 December 2023

-
35,213
71,786
106,999



Net book value



At 31 December 2023
1,056,603
880,320
808,907
2,745,830

Page 6

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Stocks

2023
£

Food and drink stocks
48,906



7.


Debtors

2023
£


Amounts owed by group undertakings
434,636

Prepayments and accrued income
7,798

442,434


Amounts owed by group undertakings are interest free and repayable on demand. 


8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
112,190



9.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
54,587

Amounts owed to group undertakings
2,937,113

Other taxation and social security
160,726

Other creditors
3,709

Accruals and deferred income
116,412

3,272,547


Amounts owed to group undertakings are interest free and repayable on demand.

Page 7

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Deferred taxation



2023


£






Charged to profit or loss
(220,943)



At end of year
(220,943)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(220,943)

(220,943)


11.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the year, the Company allotted 100 Ordinary shares, at a nominal value of £1 each. 


12.


Contingent liabilities

The Company is party to facilities offered by it's bankers to the group in respect of loans and bankers'
guarantees. It has jointly and severally with other group companies given a guarantee over the other group
companies liabilities owed to the bank. As at 31 December 2023, the Group's liability in respect of this
guarantee was £4,925,085.


13.


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 £4,842. All amount had been paid to the fund at the balance sheet date.


14.


Related party transactions

The Company has taken advantage of the exemption available within FRS102 to not disclose details of
transactions between itself and it's fellow group undertakings on the basis that it is a subsidiary
undertaking where 100% of the voting rights are controlled within the Group whose consolidated financial
statements are publicly available

Page 8

 
CHILLED PUBS (EAST LEAKE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

15.


Controlling party

The Company's ultimate parent undertaking is Chilled Pubs Limited, a company incorporated in England,
by virtue of it's 100% shareholding in Chilled Pubs (East Leake) Ltd.
The ultimate controlling party is Richard & Loren Pope, by virtue of their controlling interest in the equity
capital in Chilled Pubs Limited.


16.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 8 August 2024 by James Delve (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.


Page 9