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Registration number: 11736219

Goldthorpe Pub Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Goldthorpe Pub Ltd

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Goldthorpe Pub Ltd

Registration number: 11736219

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

148,005

154,519

Current assets

 

Stocks

5

9,000

8,000

Debtors

6

39,734

18,772

Cash at bank and in hand

 

72,022

56,376

 

120,756

83,148

Creditors: Amounts falling due within one year

7

(166,513)

(136,595)

Net current liabilities

 

(45,757)

(53,447)

Total assets less current liabilities

 

102,248

101,072

Creditors: Amounts falling due after more than one year

7

(15,000)

(25,000)

Provisions for liabilities

(13,849)

(10,003)

Net assets

 

73,399

66,069

Capital and reserves

 

Called up share capital

8

300

300

Retained earnings

73,099

65,769

Shareholders' funds

 

73,399

66,069



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Goldthorpe Pub Ltd

Registration number: 11736219

Balance Sheet as at 31 January 2024 (continued)

For the financial year ending 31 January 2024 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 year 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

S C Turner
Director

J K Turner
Director

 
     

 

Goldthorpe Pub Ltd

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

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:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
The Boars
Bunwell Road
Spooner Row
Norfolk
NR18 9LL
England

These financial statements were authorised for issue by the Board on 19 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets. Government grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

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.

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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

Lease hold property

15yr straight line

Fixture and fittings

6.67% straight line

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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 (including directors) during the year, was 18 (2023 - 20).

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

138,916

62,997

201,913

Additions

-

7,443

7,443

At 31 January 2024

138,916

70,440

209,356

Depreciation

At 1 February 2023

37,044

10,350

47,394

Charge for the year

9,261

4,696

13,957

At 31 January 2024

46,305

15,046

61,351

Carrying amount

At 31 January 2024

92,611

55,394

148,005

At 31 January 2023

101,872

52,647

154,519

Included within the net book value of land and buildings above is £92,611 (2023 - £101,872) in respect of short leasehold land and buildings.
 

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Stocks

2024
£

2023
£

Other inventories

9,000

8,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

530

-

Prepayments

38,154

18,772

Other debtors

1,050

-

 

39,734

18,772

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

10,000

10,000

Trade creditors

 

49,988

34,171

Directors loan account

10

3,168

3,620

Taxation and social security

 

84,928

75,015

Other creditors

 

18,429

13,789

 

166,513

136,595

Due after one year

 

Loans and borrowings

9

15,000

25,000

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,000

25,000

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

300

300

300

300

       

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

15,000

25,000

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

 

Goldthorpe Pub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

10

Related party transactions

Summary of transactions with other related parties

During the year, the company incurred and suffered costs and expenses on behalf of a UK registered company which the owner has a participating interest and is a director. At the balance sheet date the amount owed and included in other creditors is £8,231 (2023: £6,475).