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Registration number: 12527346

Horse and Jockey (Congerstone) Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2023 to 30 November 2023

 

Horse and Jockey (Congerstone) Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

Horse and Jockey (Congerstone) Ltd

Company Information

Directors

Mr Martin Pegg

Ms Natalie Claire Harrold

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

Horse and Jockey (Congerstone) Ltd

Directors' Report for the Period from 1 April 2023 to 30 November 2023

The directors present their report and the financial statements for the period from 1 April 2023 to 30 November 2023.

Directors of the company

The directors who held office during the period were as follows:

Mr Martin Pegg

Ms Natalie Claire Harrold

Principal activity

The principal activity of the company is that of a licensed restaurant and bar.

Going concern

The company ceased to trade on 30 November 2023 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

Small companies provision statement

This report has 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.

Approved by the Board on 14 August 2024 and signed on its behalf by:

.........................................
Mr Martin Pegg
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Horse and Jockey (Congerstone) Ltd
for the Period Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Horse and Jockey (Congerstone) Ltd for the period ended 30 November 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Horse and Jockey (Congerstone) Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Horse and Jockey (Congerstone) Ltd and state those matters that we have agreed to state to the Board of Directors of Horse and Jockey (Congerstone) Ltd , as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horse and Jockey (Congerstone) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Horse and Jockey (Congerstone) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Horse and Jockey (Congerstone) Ltd . You consider that Horse and Jockey (Congerstone) Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Horse and Jockey (Congerstone) Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

14 August 2024

 

Horse and Jockey (Congerstone) Ltd

(Registration number: 12527346)
Balance Sheet as at 30 November 2023

Note

30 November
2023
£

31 March
2023
£

Fixed assets

 

Intangible assets

5

-

104,545

Tangible assets

6

359

7,670

 

359

112,215

Current assets

 

Stocks

7

13,040

12,621

Debtors

8

165,223

1,139

Cash at bank and in hand

 

40,924

181,069

 

219,187

194,829

Creditors: Amounts falling due within one year

9

(195,484)

(192,918)

Net current assets

 

23,703

1,911

Total assets less current liabilities

 

24,062

114,126

Provisions for liabilities

(68)

(2,032)

Net assets

 

23,994

112,094

Capital and reserves

 

Called up share capital

10

11

11

Retained earnings

23,983

112,083

Shareholders' funds

 

23,994

112,094

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
Mr Martin Pegg
Director

 

Horse and Jockey (Congerstone) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

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:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the Board on 14 August 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Tax

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

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.

 

Horse and Jockey (Congerstone) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

10% Reducing balance

Fixtures & fittings

15% Reducing balance

Improvements to leasehold

15% Reducing balance

Computer equipment

3 Years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Horse and Jockey (Congerstone) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the period, was 29 (2023 - 25).

4

Loss/profit before tax

Arrived at after charging/(crediting)

30 November
2023
£

31 March
2023
£

Depreciation expense

39

772

Amortisation expense

-

10,909

 

Horse and Jockey (Congerstone) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

120,000

120,000

Disposals

(120,000)

(120,000)

At 30 November 2023

-

-

Amortisation

At 1 April 2023

15,455

15,455

Amortisation eliminated on disposals

(15,455)

(15,455)

At 30 November 2023

-

-

Carrying amount

At 30 November 2023

-

-

At 31 March 2023

104,545

104,545

6

Tangible assets

Furniture, fittings and equipment
 £

Plant and
machinery
£

Total
£

Cost or valuation

At 1 April 2023

1,933

6,548

8,481

Additions

397

175

572

Disposals

(1,932)

(6,723)

(8,655)

At 30 November 2023

398

-

398

Depreciation

At 1 April 2023

304

507

811

Charge for the period

39

-

39

Eliminated on disposal

(304)

(507)

(811)

At 30 November 2023

39

-

39

Carrying amount

At 30 November 2023

359

-

359

At 31 March 2023

1,629

6,041

7,670

 

Horse and Jockey (Congerstone) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 November 2023

7

Stocks

30 November
2023
£

31 March
2023
£

Other inventories

13,040

12,621

8

Debtors

30 November
2023
£

31 March
2023
£

Prepayments

-

1,139

Other debtors

165,223

-

165,223

1,139

9

Creditors

Creditors: amounts falling due within one year

Note

30 November
2023
£

31 March
2023
£

Due within one year

 

Trade creditors

 

57,043

33,924

Taxation and social security

 

24,453

58,327

Other creditors

 

113,988

100,667

 

195,484

192,918

10

Share capital

Allotted, called up and fully paid shares

30 November
2023

31 March
2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

A Ordinary of £1 each

1

1

1

1

11

11

11

11