New Buckenham Pub Limited 13821898 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is running a public house Digita Accounts Production Advanced 6.30.9574.0 true 13821898 2023-01-01 2023-12-31 13821898 2023-12-31 13821898 bus:OrdinaryShareClass1 2023-12-31 13821898 core:RetainedEarningsAccumulatedLosses 2023-12-31 13821898 core:ShareCapital 2023-12-31 13821898 core:CurrentFinancialInstruments 2023-12-31 13821898 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13821898 core:FurnitureFittingsToolsEquipment 2023-12-31 13821898 bus:SmallEntities 2023-01-01 2023-12-31 13821898 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13821898 bus:FilletedAccounts 2023-01-01 2023-12-31 13821898 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13821898 bus:RegisteredOffice 2023-01-01 2023-12-31 13821898 bus:Director1 2023-01-01 2023-12-31 13821898 bus:Director2 2023-01-01 2023-12-31 13821898 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13821898 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13821898 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 13821898 countries:EnglandWales 2023-01-01 2023-12-31 13821898 2022-12-31 13821898 core:FurnitureFittingsToolsEquipment 2022-12-31 13821898 2021-12-30 2022-12-31 13821898 2022-12-31 13821898 bus:OrdinaryShareClass1 2022-12-31 13821898 core:RetainedEarningsAccumulatedLosses 2022-12-31 13821898 core:ShareCapital 2022-12-31 13821898 core:CurrentFinancialInstruments 2022-12-31 13821898 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13821898 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13821898

New Buckenham Pub Limited

trading as The Kings Head

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

New Buckenham Pub Limited
trading as The Kings Head

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

New Buckenham Pub Limited
trading as The Kings Head

Registration number: 13821898

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27,973

32,830

Current assets

 

Stocks

5

8,000

6,000

Debtors

6

9,448

11,401

Cash at bank and in hand

 

44,915

76,411

 

62,363

93,812

Creditors: Amounts falling due within one year

7

(75,939)

(94,616)

Net current liabilities

 

(13,576)

(804)

Total assets less current liabilities

 

14,397

32,026

Provisions for liabilities

(3,104)

(5,407)

Net assets

 

11,293

26,619

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

11,291

26,617

Shareholders' funds

 

11,293

26,619



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

 

New Buckenham Pub Limited
trading as The Kings Head

Registration number: 13821898

Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 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 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:
 

J K Turner
Director

S C Turner
Director

 
     

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
Kings Head
Market Place
New Buckenham
Norfolk
NR16 2AN
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 £.

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (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.

Tax

The tax expense for the period comprises 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:

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Fixture and fittings

20% reducing balance

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.

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 (including directors) during the year, was 19 (2022 - 14).

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

41,038

41,038

Additions

2,136

2,136

At 31 December 2023

43,174

43,174

Depreciation

At 1 January 2023

8,208

8,208

Charge for the period

6,993

6,993

At 31 December 2023

15,201

15,201

Carrying amount

At 31 December 2023

27,973

27,973

At 31 December 2022

32,830

32,830

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Stocks

2023
£

2022
£

Other inventories

8,000

6,000

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

10

9,448

11,401

   

9,448

11,401

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

36,358

44,765

Directors loan account

10

171

14,674

Taxation and social security

 

25,897

31,092

Other creditors

 

13,513

4,085

 

75,939

94,616

 

New Buckenham Pub Limited
trading as The Kings Head

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the balance sheet is £142,917.

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 debtors is £9,448 (2022: £11,401).