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Registered number: 04797875
Staffordshire Pub Company Limited
Unaudited Financial Statements
For the Period 30 October 2023 to 31 March 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04797875
31 March 2024 29 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 675,793 691,674
675,793 691,674
CURRENT ASSETS
Stocks 20,828 20,268
Debtors 5 22,091 129,394
Cash at bank and in hand 168,815 16,811
211,734 166,473
Creditors: Amounts Falling Due Within One Year 6 (1,295,372 ) (1,190,170 )
NET CURRENT ASSETS (LIABILITIES) (1,083,638 ) (1,023,697 )
TOTAL ASSETS LESS CURRENT LIABILITIES (407,845 ) (332,023 )
Creditors: Amounts Falling Due After More Than One Year 7 (500,834 ) (491,942 )
NET LIABILITIES (908,679 ) (823,965 )
CAPITAL AND RESERVES
Called up share capital 8 99 99
Profit and Loss Account (908,778 ) (824,064 )
SHAREHOLDERS' FUNDS (908,679) (823,965)
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For the period 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 C J Lewis
Director
21 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Staffordshire Pub Company Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
The business addresses of the company are:
The Dog and Doublet Inn, Sandon Road, Stafford, ST18 0DJ
The Red Lion, Smithy Lane, Bradley, Stafford, ST18 9DZ
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Food and beverage sales
Turnover from the sale of food and beverages is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the point of sale.
Accommodation sales
Turnover from accommodation sales is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of the stay by the guest to a satisfactory standard.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold - 2% on cost
Leasehold - 10% - 20% on cost
Plant & Machinery - 20% on cost
Fixtures & Fittings - 12.6% - 33.33% on cost
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. 
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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2.6. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.  
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assesments in periods different from those in which they are recognised in financial statements.  Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions payable to the company pension scheme are charged to the profit or loss in the period to which they relate.
2.8. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.9. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 53 (2023: 53)
53 53
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 30 October 2023 752,140 264,294 255,538 16,060 1,288,032
Additions - - 3,630 - 3,630
As at 31 March 2024 752,140 264,294 259,168 16,060 1,291,662
Depreciation
As at 30 October 2023 111,265 228,864 242,090 14,139 596,358
Provided during the period 6,268 11,012 1,481 750 19,511
As at 31 March 2024 117,533 239,876 243,571 14,889 615,869
Net Book Value
As at 31 March 2024 634,607 24,418 15,597 1,171 675,793
As at 30 October 2023 640,875 35,430 13,448 1,921 691,674
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5. Debtors
31 March 2024 29 October 2023
£ £
Due within one year
Trade debtors 7,620 4,392
Prepayments and accrued income 11,988 27,723
Other debtors 2,483 97,279
22,091 129,394
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 29 October 2023
£ £
Trade creditors 65,578 73,534
Bank loans and overdrafts 79,624 79,966
Other taxes and social security 27,365 44,994
VAT 99,601 84,884
Other creditors 945 19,306
Customer deposits held 12,591 4,833
Accruals and deferred income 31,467 36,327
Directors' loan accounts 13,035 13,035
Amounts owed to related parties 965,166 833,291
1,295,372 1,190,170
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 29 October 2023
£ £
Bank loans 500,834 491,942
Bank loans totaling £504,649 (2023 - £524,477) are secured against the assets of the company. 
Bank loans include aggregate amounts of £211,234 (2023 - £236,028) which fall due after five years and which are repayable by instalments.
8. Share Capital
31 March 2024 29 October 2023
Allotted, called up and fully paid £ £
99 Ordinary Shares of £ 1.00 each 99 99
9. Financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £519,268 (2023 £586,718).
11. Related Party Disclosure
During the year the company had transactions with another business in which the director had a participating interest. The aggregate amount of these transactions in the year amounted to £131,874. As at 31 March 2024 the company owed this business £965,166 (2023 - £833,291).
12. Going Concern
The financial statements have been drawn up on the going concern basis on the understanding that the related parties will continue to support the company.
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