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Company registration number: 06187016
Beehive Pub Co Ltd
Unaudited filleted financial statements
31 January 2024
Beehive Pub Co Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Beehive Pub Co Ltd
Directors and other information
Directors Mr P Mann
Mr M Fisher
Company number 06187016
Registered office Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Beehive Pub Co Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Beehive Pub Co Ltd
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beehive Pub Co Ltd for the year ended 31 January 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Beehive Pub Co Ltd, as a body, in accordance with the terms of our engagement letter dated 31 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Beehive Pub Co Ltd and state those matters that we have agreed to state to the board of directors of Beehive Pub Co Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beehive Pub Co Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Beehive Pub Co Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Beehive Pub Co Ltd. You consider that Beehive Pub Co Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Beehive Pub Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
29 January 2025
Beehive Pub Co Ltd
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 15,022 9,729
_______ _______
15,022 9,729
Current assets
Stocks 7,730 8,702
Debtors 6 111,943 109,716
Cash at bank and in hand 312 9,473
_______ _______
119,985 127,891
Creditors: amounts falling due
within one year 7 ( 106,629) ( 79,178)
_______ _______
Net current assets 13,356 48,713
_______ _______
Total assets less current liabilities 28,378 58,442
Creditors: amounts falling due
after more than one year 8 ( 33,508) ( 51,088)
_______ _______
Net (liabilities)/assets ( 5,130) 7,354
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 5,230) 7,254
_______ _______
Shareholders (deficit)/funds ( 5,130) 7,354
_______ _______
For the year ending 31 January 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 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.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr P Mann
Director
Company registration number: 06187016
Beehive Pub Co Ltd
Notes to the financial statements
Year ended 31 January 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 Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
The accounts have been prepared on a going concern basis which assumes the support of other group companies.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Fittings fixtures and equipment - Straight line over 4 years
Computer equipment - Straight line over 4 years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amountbeing 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 16 ).
5. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 February 2023 89,342 393 89,735
Additions 9,591 - 9,591
_______ _______ _______
At 31 January 2024 98,933 393 99,326
_______ _______ _______
Depreciation
At 1 February 2023 79,615 392 80,007
Charge for the year 4,297 - 4,297
_______ _______ _______
At 31 January 2024 83,912 392 84,304
_______ _______ _______
Carrying amount
At 31 January 2024 15,021 1 15,022
_______ _______ _______
At 31 January 2023 9,727 1 9,728
_______ _______ _______
6. Debtors
2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 97,193 -
Other debtors 14,750 109,716
_______ _______
111,943 109,716
_______ _______
Details of the amounts owed by group companies are given in Note 9 Related party transactions.
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 19,811 16,062
Trade creditors 2,422 2,591
Amounts owed to group undertakings and undertakings in which the company has a participating interest 54,985 -
Social security and other taxes 14,034 13,863
Other creditors 15,377 46,662
_______ _______
106,629 79,178
_______ _______
Details of the amounts owed to group companies are given in Note 9 Related party transactions.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 24,413 51,088
Other creditors 9,095 -
_______ _______
33,508 51,088
_______ _______
9. Related party transactions
Beehive Pub Co Ltd , Gone Fish Inns Ltd and Rose and Crown Welwyn Ltd became subsidaries of Fishermann Pubs Ltd on 1 June 2023. Prior to that date, the companies were under common control due to Michael Fisher and Peter Mann being controlling shareholders of all four companies.During the year Fishermann Pubs Ltd provided management services to The Beehive Pub Co Ltd with a value of £34,606 (2023: £32,264).The amount due to Beehive Pub Co Ltd from Fishermann Pubs Ltd at 31 January 2024 was £84,000 (2023: £84,000).At 31 January 2024 Beehive Pub Co Ltd was owed £13,193 (2023: £13,193l by Gone Fish Inns Ltd and owed £54,985 (2023: £32,500) to Rose and Crown Welwyn Ltd, both subsidiaries of Fishermann Pubs Ltd.