Registered number
08892832
WOODMAN PUB MANAGEMENT LTD
Filleted Accounts
29 February 2024
WOODMAN PUB MANAGEMENT LTD
Registered number: 08892832
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 2,719
Tangible assets 4 1,200,932 222,420
1,200,932 225,139
Current assets
Stocks 42,305 82,425
Debtors 5 63,357 -
Cash at bank and in hand 1,020 399
106,682 82,824
Creditors: amounts falling due within one year 6 (287,091) (88,538)
Net current liabilities (180,409) (5,714)
Total assets less current liabilities 1,020,523 219,425
Creditors: amounts falling due after more than one year 7 (1,186,370) (1,255,894)
Net liabilities (165,847) (1,036,469)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 1,000,000 -
Profit and loss account (1,165,947) (1,036,569)
Shareholders' funds (165,847) (1,036,469)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Jeyaratnam
Director
Approved by the board on 20 November 2024
WOODMAN PUB MANAGEMENT LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 14,364
At 29 February 2024 14,364
Amortisation
At 1 March 2023 11,645
Provided during the year 2,719
At 29 February 2024 14,364
Net book value
At 29 February 2024 -
At 28 February 2023 2,719
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 229,829 383,800 613,629
Additions - 33,333 33,333
Surplus on revaluation 1,000,000 - 1,000,000
At 29 February 2024 1,229,829 417,133 1,646,962
Depreciation
At 1 March 2023 34,386 356,823 391,209
Charge for the year 22,983 31,838 54,821
At 29 February 2024 57,369 388,661 446,030
Net book value
At 29 February 2024 1,172,460 28,472 1,200,932
At 28 February 2023 195,443 26,977 222,420
5 Debtors 2024 2023
£ £
Other debtors 63,357 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 67,888 27,137
Taxation and social security costs 106,534 59,001
Other creditors 112,669 2,400
287,091 88,538
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,028,189 1,101,258
Other creditors 158,181 154,636
1,186,370 1,255,894
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 1,000,000 -
At 29 February 2024 1,000,000 -
9 Transactions with the directors
The amount of £158,181.00 is owed to the directors of the company
10 Other information
WOODMAN PUB MANAGEMENT LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Woodman Inn
Folly Road
Parkend
Lydney
GL15 4JF
WOODMAN PUB MANAGEMENT LTD 08892832 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 P Jeyaratnam No description of principal activity 08892832 2022-03-01 2023-02-28 08892832 core:RevaluationReserve core:LandBuildings 2022-03-01 2023-02-28 08892832 core:WithinOneYear 2023-02-28 08892832 core:AfterOneYear 2023-02-28 08892832 core:ShareCapital 2023-02-28 08892832 core:OtherReservesSubtotal 2023-02-28 08892832 core:RetainedEarningsAccumulatedLosses 2023-02-28 08892832 core:RevaluationReserve 2023-02-28 08892832 2023-03-01 2024-02-29 08892832 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08892832 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08892832 bus:Director40 2023-03-01 2024-02-29 08892832 1 2023-03-01 2024-02-29 08892832 2 2023-03-01 2024-02-29 08892832 core:Goodwill 2023-03-01 2024-02-29 08892832 core:LandBuildings 2023-03-01 2024-02-29 08892832 core:PlantMachinery 2023-03-01 2024-02-29 08892832 core:RevaluationReserve core:LandBuildings 2023-03-01 2024-02-29 08892832 countries:England 2023-03-01 2024-02-29 08892832 bus:FRS102 2023-03-01 2024-02-29 08892832 bus:FilletedAccounts 2023-03-01 2024-02-29 08892832 2024-02-29 08892832 core:WithinOneYear 2024-02-29 08892832 core:AfterOneYear 2024-02-29 08892832 core:ShareCapital 2024-02-29 08892832 core:OtherReservesSubtotal 2024-02-29 08892832 core:RetainedEarningsAccumulatedLosses 2024-02-29 08892832 core:Goodwill 2024-02-29 08892832 core:LandBuildings 2024-02-29 08892832 core:PlantMachinery 2024-02-29 08892832 core:RevaluationReserve 2024-02-29 08892832 2023-02-28 08892832 core:Goodwill 2023-02-28 08892832 core:LandBuildings 2023-02-28 08892832 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure