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REGISTERED NUMBER: 03667861 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MALTHOUSE INNS PLC

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


MALTHOUSE INNS PLC

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: B Matwijczuk



SECRETARY: B Matwijczuk



REGISTERED OFFICE: Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ



REGISTERED NUMBER: 03667861 (England and Wales)



AUDITORS: Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ



BANKERS: Barclays Bank PLC
1 Yorkshire Street
Rochdale
Lancashire

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his strategic report for the year ended 31 December 2023.

The company is principally engaged in the running of public houses, the company operates 2 public houses that are well established with regular customers which do not tend to see large seasonal variations. Prior to Covid the company operated a third public house which has not been reopened.

REVIEW OF BUSINESS
The company continues to operate in a difficult market which is suffering from the effects of the cost of living issues felt by many of it's potential customers. Turnover has fallen slightly in the year, however, the gross profit margin has remained stable around 51.8%. Overheads costs overall are down by approximately £116k. This includes a reduction in the rent charge of £100k due to the 2022 rent charge being increased by a prior year adjustment. There has also been a reduction in directors salaries of £20k, however this saving in remuneration has been countered with an increase in energy costs of nearly £7k. The profit for the year is £19,384 (2022 : loss (restated) £82,729).

PRINCIPAL RISKS AND UNCERTAINTIES
The company continues to trade in difficult market conditions. Profit margins within the public house sector are falling across the industry.

OUTLOOK
The company looks to continue trading by improving the management of the public houses to help improve results and return to a profit making position.

ON BEHALF OF THE BOARD:





B Matwijczuk - Director


25 February 2025

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
B Matwijczuk has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs A Matwijczuk - resigned 5 April 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in
the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Wyatt Morris Golland Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





B Matwijczuk - Director


25 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MALTHOUSE INNS PLC

Qualified opinion
We have audited the financial statements of Malthouse Inns PLC (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of the matters described in the Basis for Qualified Opinion section of our report, the accompanying financial statements present fairly, in all material respects the financial position of the Company as at 31 December 2023, and of its financial performance and its cash flows for the year then ended in accordance with Financial Reporting Standard FRS102.

Basis for qualified opinion
1) Rents had been disputed since leases were taken over on certain premises in 2002 and payments were reduced to reflect market conditions for a number of years. The properties were sold at auction during August 2015 and any historic arrears were written off. The director has confirmed that the current landlords have verbally agreed not to pursue the arrears but we are unable to confirm whether this assertion is correct due to lack of any signed documentation or amended lease agreements. As a result of these write offs of rent due and other adjustments processed by the director where we have not seen credit notes or any other form of proof of validity, vat errors of £73,917 have also now been identified.

2) The rent being paid since August 2015 is lower than per the original lease agreements. The director has stated that this lower rent has verbally been agreed with the landlord. We have been unable to confirm whether this assertion is correct due to the lack of signed documentation. The difference between the rent paid and the amount stated on the original lease for the period August 2015 to 31 December 2023 is £340,374.This has not been accrued for in the accounts.

3) One of the bank accounts operated by the company is in the name of the trading outlet. The director has confirmed that the account is a company asset however we have been unable to obtain adequate evidence to substantiate this. The balance at 31 December 2023 is £19,775.

4) There is a material uncertainty in relation to the going concern of the company as the company has current liabilities exceeding current assets and the overall balance sheet is negative.

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern
The company has negative reserves as a result of the VAT errors found. There is a material uncertainty that may cast doubt on the company's ability to continue as a going concern.

The evidence available to the auditor to confirm the appropriateness of preparing the financial statements on the going concern basis was limited because the company has not prepared profit or cash flow projections for an appropriate period subsequent to the balance sheet date.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MALTHOUSE INNS PLC


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

As detailed in our Basis for Qualified Opinion we have been unable to obtain all the information and explanations that we require as auditors and adequate accounting records have not been kept.

Subject to this we have nothing to report in respect of the following matter where the Companies Act 2006 requires us to report to you if, in our opinion:-

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MALTHOUSE INNS PLC


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Patricia Richards FCA (Senior Statutory Auditor)
for and on behalf of Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

25 February 2025

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
as restated
Notes £    £   

TURNOVER 323,679 333,027

Cost of sales 155,885 160,556
GROSS PROFIT 167,794 172,471

Administrative expenses 148,804 262,390
18,990 (89,919 )

Other operating income - 6,668
OPERATING PROFIT/(LOSS) 3 18,990 (83,251 )

Interest receivable and similar income 394 522
PROFIT/(LOSS) BEFORE TAXATION 19,384 (82,729 )

Tax on profit/(loss) 4 (685 ) (196 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

20,069

(82,533

)

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
as restated
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 20,069 (82,533 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

20,069

(82,533

)
Note
Prior year adjustment 5 (49,058 )
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

(28,989

)

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

BALANCE SHEET
31 DECEMBER 2023

2023 2022 2022
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 6 4,658 6,486 8,075

CURRENT ASSETS
Stocks 7 8,106 8,493 5,777
Debtors 8 35,967 67,864 35,884
Cash at bank and in hand 115,033 109,514 154,646
159,106 185,871 196,307
CREDITORS
Amounts falling due within one year 9 (188,028 ) (235,930 ) (165,226 )
NET CURRENT (LIABILITIES)/ASSETS (28,922 ) (50,059 ) 31,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,264

)

(43,573

)

39,156

PROVISIONS FOR LIABILITIES 11 - (760 ) (956 )
NET (LIABILITIES)/ASSETS (24,264 ) (44,333 ) 38,200

CAPITAL AND RESERVES
Called up share capital 12 50,000 50,000 50,000
Retained earnings 13 (74,264 ) (94,333 ) (11,800 )
SHAREHOLDERS' FUNDS (24,264 ) (44,333 ) 38,200

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





B Matwijczuk - Director


MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 50,000 (11,800 ) 38,200

Changes in equity
Total comprehensive income - (33,475 ) (33,475 )
Balance at 31 December 2022 50,000 (45,275 ) 4,725
Prior year adjustment - (49,058 ) (49,058 )
As restated 50,000 (94,333 ) (44,333 )

Changes in equity
Total comprehensive income - 20,069 20,069
Balance at 31 December 2023 50,000 (74,264 ) (24,264 )

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 10,071 (44,709 )
Net cash from operating activities 10,071 (44,709 )

Cash flows from investing activities
Interest received 394 522
Net cash from investing activities 394 522

Cash flows from financing activities
Amount withdrawn by directors (4,946 ) (945 )
Net cash from financing activities (4,946 ) (945 )

Increase/(decrease) in cash and cash equivalents 5,519 (45,132 )
Cash and cash equivalents at beginning of year 2 109,514 154,646

Cash and cash equivalents at end of year 2 115,033 109,514

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2023 2022
as restated
£    £   
Profit/(loss) before taxation 19,384 (82,729 )
Depreciation charges 1,209 1,589
Loss on disposal of fixed assets 619 -
Finance income (394 ) (522 )
20,818 (81,662 )
Decrease/(increase) in stocks 387 (2,716 )
Decrease/(increase) in trade and other debtors 31,897 (31,980 )
(Decrease)/increase in trade and other creditors (43,031 ) 71,649
Cash generated from operations 10,071 (44,709 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 115,033 109,514
Year ended 31 December 2022
31.12.22 1.1.22
as restated
£    £   
Cash and cash equivalents 109,514 154,646


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 109,514 5,519 115,033
109,514 5,519 115,033
Total 109,514 5,519 115,033

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the process of applying the entity's accounting policies management have not made any judgements that would have a significant effect on the amounts recognised in the financial statements. No estimations have been made that would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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.
Improvements to rented property - 4% on cost
Fixtures and fittings - 20% on reducing balance

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

Financial instruments
Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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.


MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
Government grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to the grant and the grant will be received.

Going concern
Although the company is insolvent as at 31 December 2023, the directors have intimated that they will continue to support the company. On that basis the accounts have been prepared on a going concern basis.

2. EMPLOYEES AND DIRECTORS
2023 2022
as restated
£    £   
Wages and salaries 6,250 25,830
Social security costs 676 160
6,926 25,990

The average number of employees during the year was as follows:
2023 2022
as restated

Directors 2 2

2023 2022
as restated
£    £   
Directors' remuneration 6,250 25,830

3. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging:

2023 2022
as restated
£    £   
Hire of plant and machinery 2,548 2,680
Depreciation - owned assets 1,209 1,589
Loss on disposal of fixed assets 619 -
Auditors' remuneration 8,350 8,249

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
2023 2022
as restated
£    £   
Current tax:
UK corporation tax 75 -

Deferred tax (760 ) (196 )
Tax on profit/(loss) (685 ) (196 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
as restated
£    £   
Profit/(loss) before tax 19,384 (82,729 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

3,683

(15,719

)

Effects of:
Permanent timing difference (452 ) 59
Loss carried forward - 15,464
Loss brought forward (3,916 ) -
Total tax credit (685 ) (196 )

5. PRIOR YEAR ADJUSTMENT

The prior year adjustment relates to VAT errors discovered that should have been adjusted in 2022 amounting to £49,058.

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to rented and
property fittings Totals
£    £    £   
COST
At 1 January 2023 7,674 131,483 139,157
Disposals - (13,604 ) (13,604 )
At 31 December 2023 7,674 117,879 125,553
DEPRECIATION
At 1 January 2023 6,316 126,355 132,671
Charge for year 307 902 1,209
Eliminated on disposal - (12,985 ) (12,985 )
At 31 December 2023 6,623 114,272 120,895
NET BOOK VALUE
At 31 December 2023 1,051 3,607 4,658
At 31 December 2022 1,358 5,128 6,486

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. STOCKS
2023 2022
as restated
£    £   
Stocks 8,106 8,493

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 3,378 4,124
Malthouse Management Services
Limited 22,765 50,577
Tax 861 861
Prepayments 8,963 12,302
35,967 67,864

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 36,801 96,793
Tax 75 -
Social security and other taxes 660 160
VAT 74,201 57,740
Directors' current accounts 69,791 74,737
Accrued expenses 6,500 6,500
188,028 235,930

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year 63,020 -
Between one and five years - 145,260
63,020 145,260

This relates to the rent the company is contractually obliged to pay under the signed lease agreements.

11. PROVISIONS FOR LIABILITIES
2023 2022
as restated
£    £   
Deferred tax - 760

Deferred
tax
£   
Balance at 1 January 2023 760
Movement during the year (760 )
Balance at 31 December 2023 -

MALTHOUSE INNS PLC (REGISTERED NUMBER: 03667861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
50,000 Ordinary £1 50,000 50,000

13. RESERVES
Retained
earnings
£   

At 1 January 2023 (45,275 )
Prior year adjustment (49,058 )
(94,333 )
Profit for the year 20,069
At 31 December 2023 (74,264 )

14. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £nil (2022 - £nil).

15. CAPITAL COMMITMENTS
2023 2022
as restated
£    £   
Contracted but not provided for in the
financial statements - -

16. RELATED PARTY DISCLOSURES

Mr B Matwijczuk is a director and controlling shareholder of Malthouse Management Services Limited. At 31 December 2022 the amount due to the company amounted to £22,765 (2022 : £50,577) and is included within debtors due within one year.


17. ULTIMATE CONTROLLING PARTY

During the year ended 31 December 2023 Mr.B Matwijczuk, a director, controlled the company by virtue of a controlling interest, directly, of 75% of the issued share capital.