20 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 94,502 94,502 xbrli:pure xbrli:shares iso4217:GBP 06244811 2023-07-01 2024-06-30 06244811 2024-06-30 06244811 2023-06-30 06244811 2022-07-01 2023-06-30 06244811 2023-06-30 06244811 2022-06-30 06244811 core:NetGoodwill 2023-07-01 2024-06-30 06244811 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06244811 bus:RegisteredOffice 2023-07-01 2024-06-30 06244811 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 06244811 bus:Director1 2023-07-01 2024-06-30 06244811 bus:Director2 2023-07-01 2024-06-30 06244811 bus:Director3 2023-07-01 2024-06-30 06244811 bus:CompanySecretary1 2023-07-01 2024-06-30 06244811 core:NetGoodwill 2024-06-30 06244811 core:LandBuildings 2023-06-30 06244811 core:LandBuildings 2024-06-30 06244811 core:LandBuildings 2023-07-01 2024-06-30 06244811 core:WithinOneYear 2024-06-30 06244811 core:WithinOneYear 2023-06-30 06244811 core:AfterOneYear 2024-06-30 06244811 core:AfterOneYear 2023-06-30 06244811 core:ShareCapital 2024-06-30 06244811 core:ShareCapital 2023-06-30 06244811 core:RetainedEarningsAccumulatedLosses 2024-06-30 06244811 core:RetainedEarningsAccumulatedLosses 2023-06-30 06244811 core:LandBuildings 2023-06-30 06244811 bus:SmallEntities 2023-07-01 2024-06-30 06244811 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06244811 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06244811 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06244811 bus:FullAccounts 2023-07-01 2024-06-30 06244811 core:OfficeEquipment 2023-07-01 2024-06-30 06244811 core:OfficeEquipment 2023-06-30 06244811 core:OfficeEquipment 2024-06-30 06244811 core:AfterOneYear 2023-07-01 2024-06-30 06244811 1 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 06244811
THE INDIGO PUB COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2024
THE INDIGO PUB COMPANY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
THE INDIGO PUB COMPANY LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
N Jones
S M Jones
A W Jones
Company secretary
S M Jones
Registered office
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Accountants
Streets LLP
Chartered Accountants
Tower House
Lucy Tower Street
Lincoln
Lincolnshire
LN1 1XW
THE INDIGO PUB COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
295,131
300,508
Current assets
Stocks
18,203
16,596
Debtors
7
8,311
7,526
Cash at bank and in hand
87,573
96,062
----------
----------
114,087
120,184
Creditors: amounts falling due within one year
8
121,361
115,899
----------
----------
Net current (liabilities)/assets
( 7,274)
4,285
----------
----------
Total assets less current liabilities
287,857
304,793
Creditors: amounts falling due after more than one year
9
228,512
243,108
Provisions
Taxation including deferred tax
3,970
3,905
----------
----------
Net assets
55,375
57,780
----------
----------
THE INDIGO PUB COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
55,275
57,680
---------
---------
Shareholders funds
55,375
57,780
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
N Jones
S M Jones
Director
Director
A W Jones
Director
Company registration number: 06244811
THE INDIGO PUB COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
8% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land & Buildings
-
2% straight line
Fixtures, Fittings & Equipment
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value, on a first-in-first-out basis, after making due allowance for obsolete and slow moving items. Cost is based on purchase price.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 20 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
94,502
---------
Amortisation
At 1 July 2023 and 30 June 2024
94,502
---------
Carrying amount
At 30 June 2024
---------
At 30 June 2023
---------
6. Tangible assets
Land & Buildings
Fixtures, Fittings & Equipment
Total
£
£
£
Cost
At 1 July 2023
307,723
91,878
399,601
Additions
5,391
5,391
----------
---------
----------
At 30 June 2024
307,723
97,269
404,992
----------
---------
----------
Depreciation
At 1 July 2023
28,208
70,885
99,093
Charge for the year
6,154
4,614
10,768
----------
---------
----------
At 30 June 2024
34,362
75,499
109,861
----------
---------
----------
Carrying amount
At 30 June 2024
273,361
21,770
295,131
----------
---------
----------
At 30 June 2023
279,515
20,993
300,508
----------
---------
----------
7. Debtors
2024
2023
£
£
Trade debtors
336
Other debtors
8,311
7,190
-------
-------
8,311
7,526
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
18,378
Trade creditors
29,447
39,587
Corporation tax
12,435
14,543
Social security and other taxes
36,896
36,636
CBILS loan
5,556
5,556
Other creditors
18,649
19,577
----------
----------
121,361
115,899
----------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
27,314
32,870
Other creditors
201,198
210,238
----------
----------
228,512
243,108
----------
----------
The long term loan relates to the Mortgage held for The Adam and Eve Public House. The property is held as the fixed charge over the outstanding balance. Included in the amounts falling due after 1 year are amounts totalling £160,686 which fall due after 5 years.
10. Related party transactions
During the period there were no transactions with related parties. The Directors operate a Directors Loan Account through the company which was in credit at the year end.
11. Controlling party
The company was under the control of the directors throughout the current and previous year.