SWAN CLEWER COMMUNITY INTEREST COMPANY

Company Registration Number:
10382258 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

SWAN CLEWER COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SWAN CLEWER COMMUNITY INTEREST COMPANY

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the company continued to be that of owning and operating licensed premises



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Richard William Allan
George William Calvert


The director shown below has held office during the period of
22 August 2023 to 31 December 2023

Hollie Amy Harrison


Secretary Martin William Payne

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
10 September 2024

And signed on behalf of the board by:
Name: George William Calvert
Status: Director

SWAN CLEWER COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 329,837 288,084
Cost of sales: ( 235,893 ) ( 200,076 )
Gross profit(or loss): 93,944 88,008
Distribution costs: ( 99,951 ) ( 97,205 )
Administrative expenses: 0 0
Other operating income: 39,948 86,727
Operating profit(or loss): 33,941 77,530
Interest receivable and similar income: 59 7
Interest payable and similar charges: ( 37,396 ) ( 24,826 )
Profit(or loss) before tax: (3,396) 52,711
Tax: 843 1,532
Profit(or loss) for the financial year: (2,553) 54,243

SWAN CLEWER COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,005,855 1,001,477
Investments:   0 0
Total fixed assets: 1,005,855 1,001,477
Current assets
Stocks: 4 2,086 14,500
Debtors: 5 14,917 19,456
Cash at bank and in hand: 39,773 0
Investments:   0 0
Total current assets: 56,776 33,956
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 92,738 ) ( 50,105 )
Net current assets (liabilities): (35,962) (16,149)
Total assets less current liabilities: 969,893 985,328
Creditors: amounts falling due after more than one year: 7 ( 452,028 ) ( 465,422 )
Provision for liabilities: ( 2,130 ) ( 1,618 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 515,735 518,288
Capital and reserves
Called up share capital: 500,000 500,000
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 15,735 18,288
Total Shareholders' funds: 515,735 518,288

The notes form part of these financial statements

SWAN CLEWER COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 September 2024
and signed on behalf of the board by:

Name: George William Calvert
Status: Director

The notes form part of these financial statements

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold buildings 2% on cost Plant and equipment 5 years straight line Computers 3 years straight line Office equipment 3 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

    Other accounting policies

    Other accounting policies include Impairment of fixed assets Stocks Cash and Cash Equivalents Financial instruments Equity instruments Taxation Employee benefits Retirement benefits Government grants Foreign exchange

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 11 11

    The Directors receive no remuneration for their services to the Company (and are not included in the calculation of the average number of employees above).

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 1,041,636 12,137 6,160 1,059,933
Additions 13,770 8,846 0 22,616
Disposals
Revaluations
Transfers 2,758 2,758 0 0
At 31 December 2023 1,052,648 23,741 6,160 1,082,549
Depreciation
At 1 January 2023 45,338 8,247 4,871 58,456
Charge for year 14,128 3,761 349 18,238
On disposals
Other adjustments
At 31 December 2023 59,466 12,008 5,220 76,694
Net book value
At 31 December 2023 993,182 11,733 940 1,005,855
At 31 December 2022 996,298 3,890 1,289 1,001,477

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 2,086 14,500
Total 2,086 14,500

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 7,142 13,036
Prepayments and accrued income 0 0
Other debtors 7,775 6,420
Total 14,917 19,456

Other debtors comprise a deferred tax asset.

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 21,965 31,828
Trade creditors 23,567 6,955
Taxation and social security 15,195 7,622
Other creditors 32,011 3,700
Total 92,738 50,105

SWAN CLEWER COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 396,697 418,422
Other creditors 55,331 47,000
Total 452,028 465,422

COMMUNITY INTEREST ANNUAL REPORT

SWAN CLEWER COMMUNITY INTEREST COMPANY

Company Number: 10382258 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The Object of the Swan Clewer Community Interest Company is to carry on activities which benefit the community and in particular to purchase the freehold of the Swan, Mill Lane, Clewer and renovate and refurbish it to reopen as a community pub and provide a space for indoor and outdoor community events. The Company has continued to achieve with the provision of a venue providing vocational education for 16+ year old students (the Green Room College, part of the Green Room Foundation) as well as the pub operations providing food and drink options and meeting space for over 20 different interest groups from the community of Clewer and Windsor, including the Windsor Cycle Hub (an independent charity). Highlights of 2023 included: a. Operating Profit of £34,000 in line with expectations b. Additional community financing received of £39,000 c. Sustained levels of trading d. Continued inclusion in the Good Beer Guide for 2024 e. A further repayment of the mortgage to mitigate increased interest rate rises f. Community engagement with special events and varying food offers.

Consultation with stakeholders

Key stakeholders are: a. The Green Room Foundation and Windsor & Eton Brewing Company Ltd as ‘A’ Shareholders b. 120 Investors who have £262,000 in ‘B’ Shares, including 4 who increased their investment with effect on 1 January 2024 c. 142 Loanees in 2019, of whom 28 made a further Loan to the Company in 2023 d. 27 Loanees in 2023. In addition, all customers are welcome to be a Friend of The Swan with a weekly email communication being sent to over 1,200 subscribers and are represented by a Friends of The Swan committee who hold regular and diverse events to assist fundraising for the continued refurbishment and renovation of the buildings. The Board of Directors, including representation of the ‘A’ Shareholders and a Community Director, meets monthly. 9 ‘B’ Shareholders, holding 35.8% of the ‘B’ Shares met formally in June 2023 and informally in December 2023. A general meeting open to all shareholders was held in October 2023, with 6 Open Forum meetings during 2023 open to all stakeholders.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
10 September 2024

And signed on behalf of the board by:
Name: George William Calvert
Status: Director