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Registered number: 11869126
The Saxon Pub Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Calm Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11869126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,685 8,085
Tangible Assets 5 69,898 55,865
72,583 63,950
CURRENT ASSETS
Stocks 6 10,000 10,000
Debtors 7 13,735 12,234
Cash at bank and in hand 6,430 3,616
30,165 25,850
Creditors: Amounts Falling Due Within One Year 8 (187,901 ) (131,416 )
NET CURRENT ASSETS (LIABILITIES) (157,736 ) (105,566 )
TOTAL ASSETS LESS CURRENT LIABILITIES (85,153 ) (41,616 )
Creditors: Amounts Falling Due After More Than One Year 9 (29,736 ) (30,041 )
NET LIABILITIES (114,889 ) (71,657 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (114,989 ) (71,757 )
SHAREHOLDERS' FUNDS (114,889) (71,657)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Farrington
Director
06/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Saxon Pub Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11869126 . The registered office is 62 Wood Lane, Yoxall, Staffordshire, DE13 8PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% on cost
Leasehold 10% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 26,999
As at 31 March 2024 26,999
Amortisation
As at 1 April 2023 18,914
Provided during the period 5,400
As at 31 March 2024 24,314
Net Book Value
As at 31 March 2024 2,685
As at 1 April 2023 8,085
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 496 28,575 31,462 38,860
Additions - - 30,122 3,710
As at 31 March 2024 496 28,575 61,584 42,570
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 April 2023 174 8,808 12,772 22,723
Provided during the period 50 2,857 8,809 7,896
As at 31 March 2024 224 11,665 21,581 30,619
Net Book Value
As at 31 March 2024 272 16,910 40,003 11,951
As at 1 April 2023 322 19,767 18,690 16,137
Computer Equipment Total
£ £
Cost
As at 1 April 2023 1,777 101,170
Additions 360 34,192
As at 31 March 2024 2,137 135,362
Depreciation
As at 1 April 2023 828 45,305
Provided during the period 547 20,159
As at 31 March 2024 1,375 65,464
Net Book Value
As at 31 March 2024 762 69,898
As at 1 April 2023 949 55,865
6. Stocks
2024 2023
£ £
Stock 10,000 10,000
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 13,735 12,234
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 79,432 38,457
Bank loans and overdrafts 17,040 17,073
Other creditors 45,190 56,790
Taxation and social security 46,239 19,096
187,901 131,416
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,736 30,041
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6