Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-232024-03-23Event catering activitiestrue2023-03-26false5759trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10389869 2023-03-26 2024-03-23 10389869 2022-03-27 2023-03-25 10389869 2024-03-23 10389869 2023-03-25 10389869 2022-03-27 10389869 5 2022-03-27 2023-03-25 10389869 d:Director1 2023-03-26 2024-03-23 10389869 e:Buildings 2023-03-26 2024-03-23 10389869 e:Buildings 2024-03-23 10389869 e:Buildings 2023-03-25 10389869 e:Buildings e:OwnedOrFreeholdAssets 2023-03-26 2024-03-23 10389869 e:Buildings e:LongLeaseholdAssets 2023-03-26 2024-03-23 10389869 e:Buildings e:LongLeaseholdAssets 2024-03-23 10389869 e:Buildings e:LongLeaseholdAssets 2023-03-25 10389869 e:LandBuildings 2024-03-23 10389869 e:LandBuildings 2023-03-25 10389869 e:FurnitureFittings 2023-03-26 2024-03-23 10389869 e:FurnitureFittings 2024-03-23 10389869 e:FurnitureFittings 2023-03-25 10389869 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-03-26 2024-03-23 10389869 e:OfficeEquipment 2023-03-26 2024-03-23 10389869 e:OfficeEquipment 2024-03-23 10389869 e:OfficeEquipment 2023-03-25 10389869 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-03-26 2024-03-23 10389869 e:OwnedOrFreeholdAssets 2023-03-26 2024-03-23 10389869 e:CurrentFinancialInstruments 2024-03-23 10389869 e:CurrentFinancialInstruments 2023-03-25 10389869 e:Non-currentFinancialInstruments 2024-03-23 10389869 e:Non-currentFinancialInstruments 2023-03-25 10389869 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-23 10389869 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-25 10389869 e:Non-currentFinancialInstruments e:AfterOneYear 2024-03-23 10389869 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-25 10389869 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-03-23 10389869 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-03-25 10389869 e:ShareCapital 2023-03-26 2024-03-23 10389869 e:ShareCapital 2024-03-23 10389869 e:ShareCapital 2022-03-27 2023-03-25 10389869 e:ShareCapital 2023-03-25 10389869 e:ShareCapital 2022-03-27 10389869 e:SharePremium 2023-03-26 2024-03-23 10389869 e:SharePremium 2024-03-23 10389869 e:SharePremium 2022-03-27 2023-03-25 10389869 e:SharePremium 2023-03-25 10389869 e:SharePremium 2022-03-27 10389869 e:RevaluationReserve 2023-03-26 2024-03-23 10389869 e:RevaluationReserve 2024-03-23 10389869 e:RevaluationReserve 2022-03-27 2023-03-25 10389869 e:RevaluationReserve 2023-03-25 10389869 e:RevaluationReserve 2022-03-27 10389869 e:RevaluationReserve 5 2022-03-27 2023-03-25 10389869 e:RetainedEarningsAccumulatedLosses 2023-03-26 2024-03-23 10389869 e:RetainedEarningsAccumulatedLosses 2024-03-23 10389869 e:RetainedEarningsAccumulatedLosses 2022-03-27 2023-03-25 10389869 e:RetainedEarningsAccumulatedLosses 2023-03-25 10389869 e:RetainedEarningsAccumulatedLosses 2022-03-27 10389869 d:OrdinaryShareClass1 2023-03-26 2024-03-23 10389869 d:OrdinaryShareClass1 2024-03-23 10389869 d:OrdinaryShareClass1 2023-03-25 10389869 d:OrdinaryShareClass2 2023-03-26 2024-03-23 10389869 d:OrdinaryShareClass2 2024-03-23 10389869 d:OrdinaryShareClass2 2023-03-25 10389869 d:OrdinaryShareClass3 2023-03-26 2024-03-23 10389869 d:OrdinaryShareClass3 2024-03-23 10389869 d:OrdinaryShareClass3 2023-03-25 10389869 d:FRS102 2023-03-26 2024-03-23 10389869 d:Audited 2023-03-26 2024-03-23 10389869 d:FullAccounts 2023-03-26 2024-03-23 10389869 d:PrivateLimitedCompanyLtd 2023-03-26 2024-03-23 10389869 d:SmallCompaniesRegimeForAccounts 2023-03-26 2024-03-23 10389869 2 2023-03-26 2024-03-23 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10389869










URBAN VILLAGE PUB COMPANY LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 52 WEEKS ENDED 23 MARCH 2024

 
URBAN VILLAGE PUB COMPANY LIMITED
REGISTERED NUMBER: 10389869

BALANCE SHEET
AS AT 23 MARCH 2024

23 March
25 March
2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
4,230,051
4,304,704

Current assets
  

Stocks
 5 
41,017
41,441

Debtors: amounts falling due after more than one year
 6 
14,500
14,500

Debtors: amounts falling due within one year
 6 
81,617
73,912

Cash at bank and in hand
 7 
646,395
622,712

  
783,529
752,565

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(1,402,130)
(497,212)

Net current (liabilities)/assets
  
 
 
(618,601)
 
 
255,353

Total assets less current liabilities
  
3,611,450
4,560,057

Non-current liabilities
  

Creditors: amounts falling due after more than one year
 9 
-
(995,079)

Net assets
  
3,611,450
3,564,978


Capital and reserves
  

Called up share capital 
 11 
82,906
82,906

Share premium account
 12 
4,476,807
4,476,807

Profit and loss account
 12 
(948,263)
(994,735)

  
3,611,450
3,564,978


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2024.




G J Drew
Director

Page 1

 
URBAN VILLAGE PUB COMPANY LIMITED
REGISTERED NUMBER: 10389869

BALANCE SHEET (CONTINUED)
AS AT 23 MARCH 2024

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
URBAN VILLAGE PUB COMPANY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE 52 WEEKS ENDED 23 MARCH 2024


Called up share capital
Share premium account
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 March 2022
82,906
4,476,807
283,904
(1,018,606)
3,825,011


Comprehensive income for the period

Profit for the period
-
-
-
23,871
23,871

Deficit on revaluation of freehold property
-
-
(283,904)
-
(283,904)
Total comprehensive income for the period
-
-
(283,904)
23,871
(260,033)



At 26 March 2023
82,906
4,476,807
-
(994,735)
3,564,978


Comprehensive income for the 52 weeks

Profit for the 52 weeks
-
-
-
46,472
46,472
Total comprehensive income for the 52 weeks
-
-
-
46,472
46,472


At 23 March 2024
82,906
4,476,807
-
(948,263)
3,611,450


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

1.


General information

Urban Village Pub Company Limited is a company limited by shares incorporated within the United Kingdom. The address of the registered office is 59 Longlands Lane, Findern, Derbyshire DE65 6AH. The principal activity of the company is the operation of public houses.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is £ sterling.
The financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the appropriateness of the going concern basis of the preparation of the financial statements by considering a period of at least 12 months from the date of the approval of these financial statements. Rockpool Investments, who are connected to the majority ownership of the Company, are fully supportive of the business and have indicated willingness to provide further finance where necessary to ensure that the business remains a going concern. As a result, the directors are of the opinion that there are adequate resources available to continue trading for a period of at least 12 months.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue in respect of food and drink sales is recognised at the point at which the goods are provided, net of any discounts or rebates.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the 52 weeks in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Long-term leasehold property
-
Over the life of the lease
Fixtures and fittings
-
6.67% straight line
Office equipment
-
12.5% straight line

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.

Page 5

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first our formula. Provision is made for damaged and obsolete stock where appropriate.

 
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the 52 weeks was 57 (2023 - 59).

Page 6

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

4.


Tangible fixed assets







Freehold property
Long-term leasehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 26 March 2023
4,057,340
361,988
719,572
25,844
5,164,744


Additions
1,073
-
87,721
-
88,794



At 23 March 2024

4,058,413
361,988
807,293
25,844
5,253,538



Depreciation


At 26 March 2023
482,644
128,313
233,484
15,599
860,040


Charge for the 52 weeks on owned assets
83,295
26,016
51,138
2,998
163,447



At 23 March 2024

565,939
154,329
284,622
18,597
1,023,487



Net book value



At 23 March 2024
3,492,474
207,659
522,671
7,247
4,230,051



At 25 March 2023
3,574,696
233,675
486,088
10,245
4,304,704




The net book value of land and buildings may be further analysed as follows:


23 March
25 March
2024
2023
£
£

Freehold
3,492,474
3,574,696

Long leasehold
207,659
233,675

3,700,133
3,808,371



5.


Stocks

23 March
25 March
2024
2023
£
£

Food and drink stocks
41,017
41,441


Page 7

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

6.


Debtors

23 March
25 March
2024
2023
£
£

Due after more than one year

Other debtors
14,500
14,500


23 March
25 March
2024
2023
£
£

Due within one year

Trade debtors
285
12,112

Other debtors
36,310
36,670

Prepayments and accrued income
45,022
25,130

81,617
73,912



7.


Cash and cash equivalents

23 March
25 March
2024
2023
£
£

Cash at bank and in hand
646,395
622,712



8.


Creditors: Amounts falling due within one year

23 March
25 March
2024
2023
£
£

Bank loans (see note 10)
1,002,849
96,311

Trade creditors
124,306
152,753

Other taxation and social security
74,105
76,557

Other creditors
67,222
84,826

Accruals and deferred income
133,648
86,765

1,402,130
497,212


Page 8

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

23 March
25 March
2024
2023
£
£

Bank loans (see note 10)
-
995,079



10.


Loans


Analysis of the maturity of loans is given below:


23 March
25 March
2024
2023
£
£

Amounts falling due within one year

Bank loans
1,002,849
96,311

Amounts falling due 1-2 years

Bank loans
-
995,079

1,002,849
1,091,390


A bank loan of £63k is repayable in installments and is due to be repaid by Oct-24. Interest is charged at 7.25% per annum. A bank loan of £940k has interest only repayments with the principal value repayable in full in Oct-24. Interest is charged at 7.25% per annum. The bank loans are secured over the freehold land and buildings held by the Company.

11.


Share capital

23 March
25 March
2024
2023
£
£
Allotted, called up and fully paid



8,620 (2023 - 8,620) Ordinary shares of £1.00 each
8,620
8,620
24,197 (2023 - 24,197) A Ordinary shares of £1.00 each
24,197
24,197
5,008,853 (2023 - 5,008,853) B Ordinary shares of £0.01 each
50,089
50,089

82,906

82,906

Ordinary shares have full voting rights, rights to dividends and capital distributions, including on winding up.
A Ordinary shares have full voting rights, rights to dividends and capital distributions, including on winding up but have no rights of redemption.
B Ordinary shares have rights to dividends and capital distributions, including on winding up but have no rights of redemption. The B Ordinary shares have no voting rights.


Page 9

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

12.


Reserves

Share premium account

The share premium account represents the premium arising on the issue of shares net of issue costs and
is not distributable.

Profit and loss account

The profit and loss account represents cumulative profits and losses and there are no restriction on distribution.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,843 (2023 - £14,973). Contributions totalling £6,976 (2023 - £7,263) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

There is not considered to be any key management personnel outside of the directors.
The following related party transactions occurred during the year:
Rockpool Investment Nominee Limited - majority shareholder
The Company incurred management charges of £97,800 (2023: £97,800) during the period. At the period end the Company owed £9,780 (2023: £11,049) which is included in trade creditors.
Flagstone Inns Limited - company with directors in common
The Company incurred management charges of £125,600 (2023: £125,000) during the period. At the period end the Company was owed £nil (2023: £14,550) which is included in other debtors.
Danimon Limited - company with directors in common
The Company paid director fees of £23,878 (2023: £25,870) during the period to the Company with a director in common. At the period end the Company owed £nil (2023: £nil).
Gavin Drew - Director and shareholder
At the period end the Company owed the Director £2,374 (2023: £1,161) for expenses incurred on the Company's behalf, which is included in trade creditors.
Suburban Village Pub Company Limited - company with directors in common
At the period end the Company owed £nil (2023: £15,841) which is included in other creditors and accruals.
Metropolitan Village Pub Company Limited - company with directors in common
At the period end the Company owed £nil (2023: £841) which is included in other creditors and accruals.

Page 10

 
URBAN VILLAGE PUB COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 23 MARCH 2024

15.


Controlling party

The ultimate controlling party is Rockpool Investments Nominee Limited. No one party is considered to control Rockpool Investments Nominee Limited.

16.


Auditors' information

The auditors' report on the financial statements for the 52 weeks ended 23 March 2024 was unqualified.

The audit report was signed on 1 October 2024 by James Delve (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.

Page 11