Company registration number SC097317 (Scotland)
BRINGHURST TAVERNS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
BRINGHURST TAVERNS LIMITED
COMPANY INFORMATION
Directors
I A Bringhurst
D Bringhurst
M A Bringhurst
(Appointed 1 September 2024)
Company number
SC097317
Registered office
1 Abbeylands
High Street
Dunbar
United Kingdom
EH42 1EH
Accountants
Azets
Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
Solicitors
Addleshaw Goddard LLP
Exchange Tower
19 Canning Street
Edinburgh
United Kingdom
EH3 8EH
BRINGHURST TAVERNS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BRINGHURST TAVERNS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
102,740
5,608
Investment properties
4
2,455,000
2,455,000
2,557,740
2,460,608
Current assets
Debtors
5
28,257
18,946
Cash at bank and in hand
15,126
86
43,383
19,032
Creditors: amounts falling due within one year
6
(1,322,061)
(1,139,729)
Net current liabilities
(1,278,678)
(1,120,697)
Total assets less current liabilities
1,279,062
1,339,911
Creditors: amounts falling due after more than one year
7
(61,285)
-
0
Net assets
1,217,777
1,339,911
Capital and reserves
Called up share capital
1,087,474
1,087,474
Distributable profit and loss reserves
130,303
252,437
Total equity
1,217,777
1,339,911

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

BRINGHURST TAVERNS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 March 2025 and are signed on its behalf by:
I A Bringhurst
Director
Company Registration No. SC097317
BRINGHURST TAVERNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Bringhurst Taverns Limited is a private company limited by shares incorporated in Scotland. The registered office is 1 Abbeylands, High Street, Dunbar, United Kingdom, EH42 1EH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all information available to them, believes it appropriate to prepare the financial statements on a going concern basis.true

 

The directors therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from rental income is recognised by reference to the date of supply.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

BRINGHURST TAVERNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BRINGHURST TAVERNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
BRINGHURST TAVERNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost or valuation
At 1 August 2023
101,647
Additions
112,583
At 31 July 2024
214,230
Depreciation and impairment
At 1 August 2023
96,039
Depreciation charged in the year
15,451
At 31 July 2024
111,490
Carrying amount
At 31 July 2024
102,740
At 31 July 2023
5,608

 

4
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
2,455,000

The investment property was valued by Buchanan Chartered Surveyors in April 2023 based on open market value. The directors are of the opinion that, based on market conditions, this valuation is not materially different to the value at April 2023.

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
28,257
18,946
BRINGHURST TAVERNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
390,565
Obligations under finance leases
15,228
821
Trade creditors
220,805
227,892
Taxation and social security
19,760
30,141
Other creditors
1,061,918
486,160
Accruals and deferred income
4,350
4,150
1,322,061
1,139,729

Obligations under finance leases are secured over the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
61,285
-
0

Obligations under finance leases are secured over the assets to which they relate.

8
Operating lease commitments
Lessee

 

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
4,266
7,277
2024-07-312023-08-01falsefalsefalse07 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityI A BringhurstD BringhurstM A BringhurstSC0973172023-08-012024-07-31SC097317bus:Director12023-08-012024-07-31SC097317bus:Director22023-08-012024-07-31SC097317bus:Director32023-08-012024-07-31SC097317bus:RegisteredOffice2023-08-012024-07-31SC097317bus:Agent12023-08-012024-07-31SC0973172024-07-31SC0973172023-07-31SC097317core:OtherPropertyPlantEquipment2024-07-31SC097317core:OtherPropertyPlantEquipment2023-07-31SC097317core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-31SC097317core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-31SC097317core:Non-currentFinancialInstrumentscore:AfterOneYear2024-07-31SC097317core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-31SC097317core:CurrentFinancialInstruments2024-07-31SC097317core:CurrentFinancialInstruments2023-07-31SC097317core:ShareCapital2024-07-31SC097317core:ShareCapital2023-07-31SC097317core:RetainedEarningsAccumulatedLosses2024-07-31SC097317core:RetainedEarningsAccumulatedLosses2023-07-31SC097317core:FurnitureFittings2023-08-012024-07-31SC097317core:MotorVehicles2023-08-012024-07-31SC0973172022-08-012023-07-31SC097317core:OtherPropertyPlantEquipment2023-07-31SC097317core:OtherPropertyPlantEquipment2023-08-012024-07-31SC0973172023-07-31SC097317core:WithinOneYear2024-07-31SC097317core:WithinOneYear2023-07-31SC097317core:Non-currentFinancialInstruments2024-07-31SC097317core:Non-currentFinancialInstruments2023-07-31SC097317bus:PrivateLimitedCompanyLtd2023-08-012024-07-31SC097317bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC097317bus:FRS1022023-08-012024-07-31SC097317bus:AuditExemptWithAccountantsReport2023-08-012024-07-31SC097317bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP