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Registration number: 08548786

The Fox Public House Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

The Fox Public House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Fox Public House Limited

Company Information

Director

Mr I Hanke

Registered office

The Fox
Green Lane
Lye
Stourbridge
DY9 7EW

Accountants

CLG Accountants & Business Advisors
Hagley Road Business Hub
8 Hagley Road
Stourbridge
West Midlands
DY8 1PS

 

The Fox Public House Limited

(Registration number: 08548786)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,070

9,536

Current assets

 

Stocks

5

3,900

3,950

Debtors

6

4,157

4,758

Cash at bank and in hand

 

5,949

5,184

 

14,006

13,892

Creditors: Amounts falling due within one year

7

(19,440)

(20,594)

Net current liabilities

 

(5,434)

(6,702)

Total assets less current liabilities

 

2,636

2,834

Provisions for liabilities

(1,533)

(1,812)

Net assets

 

1,103

1,022

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

1,101

1,020

Shareholders' funds

 

1,103

1,022

For the financial year ending 31 May 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 17 September 2024
 

 

The Fox Public House Limited

(Registration number: 08548786)
Balance Sheet as at 31 May 2024

.........................................
Mr I Hanke
Director

 

The Fox Public House Limited

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

1

General information

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

The address of its registered office is:
The Fox
Green Lane
Lye
Stourbridge
DY9 7EW
United Kingdom

The principal place of business is:
The Fox
Green Lane
Lye
Stourbridge
DY9 7EW
United Kingdom

These financial statements were authorised for issue by the director on 17 September 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.

Going concern

The financial statements have been prepared on a going concern basis with the Director having given due consideration to the effects of Brexit and Covid-19. He is of the opinion that neither the Company's ability to trade nor the value of its assets will be significantly impaired.

 

The Fox Public House Limited

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

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Goverment and local authority grants are disclosed in the profit and loss account as other operating income in the financial period in which they are received. Any related expenditure is also disclosed in the same period although this is not offset but disclosed within the profit and loss overhead expenses.

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.

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.

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.

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

Fixtures and fittings

20% reducing balance.

Leasehold

20% reducing balance

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.

 

The Fox Public House Limited

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

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.

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.

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.

 

The Fox Public House Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

11,541

15,321

26,862

Additions

-

550

550

At 31 May 2024

11,541

15,871

27,412

Depreciation

At 1 June 2023

7,423

9,903

17,326

Charge for the year

823

1,193

2,016

At 31 May 2024

8,246

11,096

19,342

Carrying amount

At 31 May 2024

3,295

4,775

8,070

At 31 May 2023

4,118

5,418

9,536

Included within the net book value of land and buildings above is £3,295 (2023 - £4,118) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

3,900

3,950

6

Debtors

2024
£

2023
£

Other debtors

4,000

4,708

Prepayments

157

50

4,157

4,758

 

The Fox Public House Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,418

14,166

Taxation and social security

10,507

5,756

Accruals and deferred income

1,000

275

Other creditors

515

397

19,440

20,594

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2