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Company registration number: 11987958
Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd)
Unaudited filleted financial statements
31 January 2024
Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd)
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd)
Directors and other information
Directors Mr M Fisher
Mr P Mann
Company number 11987958
Registered office Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd)
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd) and state those matters that we have agreed to state to the board of directors of Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd) and its board of directors as a body for our work or for this report.
It is your duty to ensure that Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 profit of Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd). You consider that Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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 Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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
Rose and Crown Welwyn Ltd (formerly Fishermann Inns Ltd)
Statement of financial position
31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 50,892 56,614
_______ _______
50,892 56,614
Current assets
Stocks 10,608 7,527
Debtors 6 80,940 47,937
Cash at bank and in hand 209,657 239,589
_______ _______
301,205 295,053
Creditors: amounts falling due
within one year 7 ( 140,487) ( 164,843)
_______ _______
Net current assets 160,718 130,210
_______ _______
Total assets less current liabilities 211,610 186,824
Creditors: amounts falling due
after more than one year 8 ( 7,594) ( 14,124)
Provisions for liabilities - ( 14,000)
_______ _______
Net assets 204,016 158,700
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 203,916 158,600
_______ _______
Shareholders funds 204,016 158,700
_______ _______
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: 11987958
Rose and Crown Welwyn Ltd (formerly Fishermann Inns 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Fittings fixtures and equipment - 4 years straight line
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 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.
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.
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.
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.
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 32 (2023: 28 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 February 2023 95,900 95,900
Additions 20,961 20,961
_______ _______
At 31 January 2024 116,861 116,861
_______ _______
Depreciation
At 1 February 2023 39,286 39,286
Charge for the year 26,683 26,683
_______ _______
At 31 January 2024 65,969 65,969
_______ _______
Carrying amount
At 31 January 2024 50,892 50,892
_______ _______
At 31 January 2023 56,614 56,614
_______ _______
6. Debtors
2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 65,503 -
Other debtors 15,437 47,937
_______ _______
80,940 47,937
_______ _______
Details of amounts owed by group companies are given in Note 10 Related party transactions.
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,530 6,061
Trade creditors 2,706 953
Amounts owed to group undertakings and undertakings in which the company has a participating interest 75,453 -
Corporation tax - 25,210
Social security and other taxes 30,395 34,999
Other creditors 25,403 97,620
_______ _______
140,487 164,843
_______ _______
Details of amounts owed to group companies are given in Note 10 Related party transactions.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 7,594 14,124
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr M Fisher ( 200) - ( 200)
Mr P Mann ( 200) - ( 200)
_______ _______ _______
( 400) - ( 400)
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr M Fisher ( 9,450) 9,250 ( 200)
Mr P Mann ( 9,450) 9,250 ( 200)
_______ _______ _______
( 18,900) 18,500 ( 400)
_______ _______ _______
10. Related party transactions
Rose and Crown Welwyn Ltd, Gone Fish Inns Ltd and Beehive Pub Co 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 Rose and Crown Welwyn Ltd with a value of £42,493 (2023: £33,847).The amount due from Rose and Crown Welwyn Ltd to Fishermann Pubs Ltd at 31 January 2024 was £69,286 (2023: £70,000).At 31 January 2024 Rose and Crown Welwyn Ltd also owed £6,167 (2023: £nil) to Gone Fish Inns Ltd.Rose and Crown Welwyn Ltd was owed amounts by two other subsidiaries of Fishermann Pubs Ltd. At 31 January 2024, Beehive Pub Co Ltd owed the company £54,985 (2023: £32,500) and The Bull Whitwell Ltd owed the company £10,518 (2023: £nil).