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REGISTERED NUMBER: 04279974 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

CITYGLEN PUB CO. LIMITED

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITYGLEN PUB CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTOR: T A O'Leary





SECRETARY: C Best





REGISTERED OFFICE: Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN





REGISTERED NUMBER: 04279974 (England and Wales)

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,613,412 1,682,746
1,613,412 1,682,746

CURRENT ASSETS
Stocks 147,954 168,418
Debtors 6 1,026,470 914,950
Cash at bank and in hand 89,560 16,415
1,263,984 1,099,783
CREDITORS
Amounts falling due within one year 7 1,980,942 1,912,972
NET CURRENT LIABILITIES (716,958 ) (813,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

896,454

869,557

CREDITORS
Amounts falling due after more than
one year

8

(1,048,654

)

(1,061,205

)

PROVISIONS FOR LIABILITIES (49,341 ) (55,418 )
NET LIABILITIES (201,541 ) (247,066 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (202,541 ) (248,066 )
SHAREHOLDERS' FUNDS (201,541 ) (247,066 )

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

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

The director acknowledges his 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.

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

BALANCE SHEET - continued
30TH JUNE 2024


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 director and authorised for issue on 10th April 2025 and were signed by:





T A O'Leary - Director


CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Cityglen Pub Co Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 04279974 and the registered office address is Riverside House, 1-5 Como Street, Romford, Essex. RM7 7DN

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 represents bar takings, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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
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 its financial instruments.

Financial instruments are recognised 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 includes trade and other debtors, 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.


CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

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 trade and other creditors and preference shares classed 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.

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

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the balance sheet date the company had net liabilities of £201,541 (2023: £247,066) The director believes that the company, with his and the associated companies' continued support, has adequate resources to continue to operate. The director considers it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the director was not continued.

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued

Intangible assets
Development expenditure

Development of products is capitalised where there is expected to be a benefit to future periods and the following conditions are met:

(i) It is technically feasible to complete the research or development so that the product will be available for use or sale.

(ii) It is intended to use or sell the product being developed.

(iii) The Company is able to use or sell the product.

(iv) It can be demonstrated that the product will generate probable future economic benefits.

(v) Adequate technical, financial and other resources exist so that product development can be completed and subsequently used or sold.

(vi) Expenditure attributable to the research and development work can be reliably measured.

During the year the company decided to develop the provision of food and catering, having identified a number of its public houses which it was considered would benefit from this higher end catering.

This development process involves the design of kitchens incorporating various food preparation and cooking techniques.

Chefs and leading market experts were engaged to compile a number of innovative menus, which are going through trial stages and continue to be developed. This development includes refining the sourcing of ingredients from various suppliers around the country.

In view of the above nature of this expenditure these costs are considered to be of a capital nature and not a realised loss.

Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:

Catering development costs - 2 years

All other research and development expenditure is recognised as an expense in the period in which it is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 73 (2023 - 74 ) .

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st July 2023
and 30th June 2024 317,440
AMORTISATION
At 1st July 2023
and 30th June 2024 317,440
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st July 2023 2,078,869 372,366 409,649
Additions - 9,074 16,269
At 30th June 2024 2,078,869 381,440 425,918
DEPRECIATION
At 1st July 2023 622,309 269,375 287,259
Charge for year 44,214 23,177 27,733
At 30th June 2024 666,523 292,552 314,992
NET BOOK VALUE
At 30th June 2024 1,412,346 88,888 110,926
At 30th June 2023 1,456,560 102,991 122,390

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st July 2023 11,203 13,873 2,885,960
Additions - 946 26,289
At 30th June 2024 11,203 14,819 2,912,249
DEPRECIATION
At 1st July 2023 11,203 13,068 1,203,214
Charge for year - 499 95,623
At 30th June 2024 11,203 13,567 1,298,837
NET BOOK VALUE
At 30th June 2024 - 1,252 1,613,412
At 30th June 2023 - 805 1,682,746

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 63,730 89
Other debtors 962,740 914,861
1,026,470 914,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 51,477 51,477
Trade creditors 1,519,750 1,296,178
Taxation and social security 172,888 371,111
Other creditors 236,827 194,206
1,980,942 1,912,972

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 122,926 164,542
Other creditors 925,728 896,663
1,048,654 1,061,205

CITYGLEN PUB CO. LIMITED (REGISTERED NUMBER: 04279974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


9. RELATED PARTY DISCLOSURES

Cityglen Limited
T O'Leary is a director and shareholder in the company.

During the year the company invoiced Cityglen Limited £413,882 (2023: £413,882) for the provision of rental accommodation. The amount due from the related party at the year end date was £153,760, (2023: £247,620).

Leacroft Services Limited
T O'Leary is a director and shareholder in the company.

During the year Leacroft Services Limited charged the company loan interest of £26,178 (2023: £26,178). The company has provided an unlimited guarantee to the Bank of Cyprus UK Limited as security for their loan to Leacroft Services Limited. The amount due to the related party at the year end date was £925,728, (2023: £889,765).

Whybrook Developments Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £101,249 (2023: £101,249).

Cityglen Investment Group Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year.The amount due from the related party at the year end date was £264,371 (2023:£264,371).

Whybrook Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £1,875 (2023 :£1,875).

Euro Acquisitions Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year. The amount due from the related party at the year end date was £577 (2023:£577).

Ambassador Ventures Limited
T O'Leary is a director and shareholder in the company.

There were no transactions during the year.The amount due from the related party at the year end date was £6,064 (2023 :£6,064).