IRIS Accounts Production v24.3.2.46 01318081 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013180812023-06-30013180812024-06-30013180812023-07-012024-06-30013180812022-06-30013180812022-07-012023-06-30013180812023-06-3001318081ns15:EnglandWales2023-07-012024-06-3001318081ns14:PoundSterling2023-07-012024-06-3001318081ns10:Director12023-07-012024-06-3001318081ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3001318081ns10:SmallEntities2023-07-012024-06-3001318081ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3001318081ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3001318081ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3001318081ns10:FullAccounts2023-07-012024-06-3001318081ns10:Director22023-07-012024-06-3001318081ns10:CompanySecretary12023-07-012024-06-3001318081ns10:RegisteredOffice2023-07-012024-06-3001318081ns5:CurrentFinancialInstruments2024-06-3001318081ns5:CurrentFinancialInstruments2023-06-3001318081ns5:ShareCapital2024-06-3001318081ns5:ShareCapital2023-06-3001318081ns5:RetainedEarningsAccumulatedLosses2024-06-3001318081ns5:RetainedEarningsAccumulatedLosses2023-06-3001318081ns5:FurnitureFittings2023-07-012024-06-3001318081ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3001318081ns5:FurnitureFittings2023-06-3001318081ns5:ShortLeaseholdAssetsns5:LandBuildings2023-07-012024-06-3001318081ns5:ShortLeaseholdAssetsns5:LandBuildings2024-06-3001318081ns5:FurnitureFittings2024-06-3001318081ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3001318081ns5:FurnitureFittings2023-06-3001318081ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3001318081ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3001318081ns5:RetainedEarningsAccumulatedLosses2023-06-3001318081ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: 01318081 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Cornelly Pubs Limited

Cornelly Pubs Limited (Registered number: 01318081)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cornelly Pubs Limited

Company Information
for the Year Ended 30 June 2024







Directors: M I Thomas
Mrs J Thomas





Secretary: M I Thomas





Registered office: Greenacres
111 Heol Fach
North Cornelly
Bridgend
Mid Glamorgan
CF33 4LH





Registered number: 01318081 (England and Wales)





Accountants: Curtis, Bowden and Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
Rhondda Cynon Taff
CF40 1AR

Cornelly Pubs Limited (Registered number: 01318081)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 244,201 245,227

Current assets
Stocks 7,500 5,500
Debtors 5 3,000 2,500
Cash at bank and in hand 81,499 82,764
91,999 90,764
Creditors
Amounts falling due within one year 6 88,170 100,443
Net current assets/(liabilities) 3,829 (9,679 )
Total assets less current liabilities 248,030 235,548

Provisions for liabilities 1,615 1,854
Net assets 246,415 233,694

Capital and reserves
Called up share capital 100 100
Retained earnings 7 246,315 233,594
Shareholders' funds 246,415 233,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:



M I Thomas - Director


Cornelly Pubs Limited (Registered number: 01318081)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Cornelly Pubs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

No depreciation is provided on the property as the company's premises are maintained to a high standard and therefore the directors consider that the life of the premises is so long and its residual value so great that any depreciation would be insignificant.This treatment is a departure from the requirements of the Companies Act 2006 and FRS 102 concerning depreciation of fixed assets.The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 assessments 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.

3. Employees and directors

The average number of employees during the year was 21 (2023 - 18 ) .

Cornelly Pubs Limited (Registered number: 01318081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. Tangible fixed assets
Fixtures
Short and
leasehold fittings Totals
£    £    £   
Cost
At 1 July 2023
and 30 June 2024 235,701 203,882 439,583
Depreciation
At 1 July 2023 - 194,356 194,356
Charge for year - 1,026 1,026
At 30 June 2024 - 195,382 195,382
Net book value
At 30 June 2024 235,701 8,500 244,201
At 30 June 2023 235,701 9,526 245,227

5. Debtors: amounts falling due within one year
30.6.24 30.6.23
£    £   
Other debtors 3,000 2,500

6. Creditors: amounts falling due within one year
30.6.24 30.6.23
£    £   
Trade creditors 22,839 21,459
Taxation and social security 45,690 40,713
Other creditors 19,641 38,271
88,170 100,443

7. Reserves
Retained
earnings
£   

At 1 July 2023 233,594
Profit for the year 44,721
Dividends (32,000 )
At 30 June 2024 246,315

8. Related party disclosures

During the year, total dividends of £32,000 (2023 - £25,000) were paid to the directors .

As at 30th June 2024 Mr M I Thomas, a director of Cornelly Pubs Limited, was owed £123 from the company. During the year there was an aggregate of advances of £58,963 and credits of £42,843.

The land on which the Greenacres Public House is situated is owned by Mr M I Thomas. No formal lease agreement is in place and no rent is being charged.

Cornelly Pubs Limited (Registered number: 01318081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. Ultimate controlling party

The controlling party is Mr M I Thomas by virtue of his ownership of 100% of the issued share capital in the company.