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REGISTERED NUMBER: 10618357 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE GREENS NORTON PUB COMPANY LTD

THE GREENS NORTON PUB COMPANY LTD (REGISTERED NUMBER: 10618357)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE GREENS NORTON PUB COMPANY LTD

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: S T Pentland
C Sharp
P L Rea
D N Smith
J I White





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 10618357 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

THE GREENS NORTON PUB COMPANY LTD (REGISTERED NUMBER: 10618357)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 561,918 566,377

CURRENT ASSETS
Stocks 12,755 9,667
Debtors 5 10,359 15,948
Cash at bank and in hand 209,720 189,066
232,834 214,681
CREDITORS
Amounts falling due within one year 6 (101,529 ) (103,255 )
NET CURRENT ASSETS 131,305 111,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

693,223

677,803

CREDITORS
Amounts falling due after more than one
year

7

(28,648

)

(33,911

)

PROVISIONS FOR LIABILITIES (3,572 ) -
NET ASSETS 661,003 643,892

CAPITAL AND RESERVES
Called up share capital 600,250 600,250
Retained earnings 60,753 43,642
SHAREHOLDERS' FUNDS 661,003 643,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




S T Pentland - Director


THE GREENS NORTON PUB COMPANY LTD (REGISTERED NUMBER: 10618357)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

The Greens Norton Pub Company Ltd is a private company limited by share capital, registered in England and Wales, registration number 10618357. The address of the registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is Pound Sterling (£), figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Food and drink
Revenue is recognised at the point at which food and drinks are provided based on till receipts taken. Promotional discounts are recorded at point of sale. Revenue is reported on product sales net of VAT and discounts applied.

The performance obligation is satisfied upon the delivery of the food and drink and payment of the transaction price is due immediately when the customer purchases the food and/or drink.

Tangible fixed assets
Tangible fixed assets 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Freehold land and buildings - straight line over 4 years
Plant and machinery- straight line over 4 years
Fixtures and fittings - straight line over 3-4 years
Computer equipment- straight line over 3 years

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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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 complete and sell. The impairment loss is recognised immediately in profit or loss.

THE GREENS NORTON PUB COMPANY LTD (REGISTERED NUMBER: 10618357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of 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 non-puttable ordinary shares.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year 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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

THE GREENS NORTON PUB COMPANY LTD (REGISTERED NUMBER: 10618357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land & Plant and and Computer
buildings machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 566,495 10,370 82,451 7,063 666,379
Additions - - 3,892 - 3,892
Disposals - - (1,601 ) - (1,601 )
At 30 April 2024 566,495 10,370 84,742 7,063 668,670
DEPRECIATION
At 1 May 2023 18,451 6,731 70,433 4,387 100,002
Charge for year 416 1,333 5,055 1,280 8,084
Eliminated on disposal - - (1,334 ) - (1,334 )
At 30 April 2024 18,867 8,064 74,154 5,667 106,752
NET BOOK VALUE
At 30 April 2024 547,628 2,306 10,588 1,396 561,918
At 30 April 2023 548,044 3,639 12,018 2,676 566,377

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,742 -
Other debtors 8,617 15,948
10,359 15,948

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,219 6,219
Trade creditors 31,137 33,726
Taxation and social security 36,800 26,671
Other creditors 27,373 36,639
101,529 103,255

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 28,648 33,911

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years by
instalments

6,589

12,446