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REGISTERED NUMBER: 07227511 (England and Wales)







Financial Statements

for the Year Ended 31 July 2024

for

Wibberley & Cox Inns Limited

Wibberley & Cox Inns Limited (Registered number: 07227511)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wibberley & Cox Inns Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs I A Wibberley
Mr S J Cox



REGISTERED OFFICE: 8 Muirfield Drive
Mickleover
Derby
Derbyshire
DE3 9YA



REGISTERED NUMBER: 07227511 (England and Wales)



ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
50 Osmaston Road
Derby
DE1 2HU



BANKERS: HSBC Bank Plc
1 St Peters Street
Derby
Derbyshire
DE1 2AE

Wibberley & Cox Inns Limited (Registered number: 07227511)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 34,119 40,251
Tangible assets 6 267,897 158,626
302,016 198,877

CURRENT ASSETS
Stocks 7 42,297 41,330
Debtors 8 37,033 36,510
Cash at bank 623,783 737,624
703,113 815,464
CREDITORS
Amounts falling due within one year 9 291,635 356,748
NET CURRENT ASSETS 411,478 458,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

713,494

657,593

CREDITORS
Amounts falling due after more than one
year

10

(8,778

)

(19,065

)

PROVISIONS FOR LIABILITIES (60,725 ) (35,623 )
NET ASSETS 643,991 602,905

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings 643,989 602,903
SHAREHOLDERS' FUNDS 643,991 602,905

Wibberley & Cox Inns Limited (Registered number: 07227511)

Balance Sheet - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:




Mrs I A Wibberley - Director



Mr S J Cox - Director


Wibberley & Cox Inns Limited (Registered number: 07227511)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Wibberley & Cox Inns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The Company made a profit for the year of £208,042 (2023: £281,016) and reported net assets of £647,767 (2023: £602,905). The Directors have prepared the financial statements on the going concern basis which assumes that the company will continue to trade for the foreseeable future. The validity of the assumption is based on the directors' assessment of future cash flow forecasts and revenue projections and for the reasons set out below.

Cost of living and economic uncertainty in the UK
As at the date of approving these financial statements, the impact of the economic uncertainty in the UK economy on the company's trading is continually being assessed and subject to review. The current economic climate in the UK has placed strain on the finances of the general public which could potentially limit their ability to spend on leisure activities. The "Base case" assumption is that all of the company premises will remain open into the future. In assessing the company's funding requirements, the directors have prepared projections which consider the impacts on revenue given that leisure activities may be more volatile and uncertain.

Having assessed the current trading performance and future prospects, the directors have concluded that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. The financial statements therefore, do not include any adjustments that would arise if the going concern basis of preparation were inappropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2010 and 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Wibberley & Cox Inns Limited (Registered number: 07227511)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset`s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Wibberley & Cox Inns Limited (Registered number: 07227511)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be relaibly estimated.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 105 (2023 - 101 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 112,434
AMORTISATION
At 1 August 2023 72,183
Amortisation for year 6,132
At 31 July 2024 78,315
NET BOOK VALUE
At 31 July 2024 34,119
At 31 July 2023 40,251

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 August 2023 20,682 42,303 6,322 357,309 426,616
Additions - 80,481 - 66,144 146,625
At 31 July 2024 20,682 122,784 6,322 423,453 573,241
DEPRECIATION
At 1 August 2023 17,744 11,985 6,322 231,939 267,990
Charge for year 441 8,186 - 28,727 37,354
At 31 July 2024 18,185 20,171 6,322 260,666 305,344
NET BOOK VALUE
At 31 July 2024 2,497 102,613 - 162,787 267,897
At 31 July 2023 2,938 30,318 - 125,370 158,626


Wibberley & Cox Inns Limited (Registered number: 07227511)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. STOCKS
2024 2023
£    £   
Stocks 42,297 41,330

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Brewery bonds 19,069 18,886
Prepayments and accrued income 17,964 17,624
37,033 36,510

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 10,289 10,034
Trade creditors 36,024 93,278
Corporation tax 57,395 81,068
Social security and other taxes 167,108 148,505
Directors' current accounts 1,400 1,400
Accruals 19,419 22,463
291,635 356,748

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 11) 8,778 19,065

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,289 10,034

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,778 10,289

Amounts falling due between two and five years:
Bank loans - 2-5 years - 8,776

Wibberley & Cox Inns Limited (Registered number: 07227511)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,748 2,748
Between one and five years 1,832 4,580
4,580 7,328

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mrs I A Wibberley
Balance outstanding at start of year - 40
Amounts repaid - (40 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -