Company registration number 14995816 (England and Wales)
HIDDEN TOWN PUBS HOLDINGS LTD
Unaudited Financial Statements
for the Year Ended 31 July 2024
HIDDEN TOWN PUBS HOLDINGS LTD
BALANCE SHEET
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
3
369,294
Investments
4
100
369,394
Current assets
Cash at bank and in hand
4,064
Creditors: amounts falling due within one year
6
(40,492)
Net current liabilities
(36,428)
Total assets less current liabilities
332,966
Creditors: amounts falling due after more than one year
7
(367,405)
Net liabilities
(34,439)
Capital and reserves
Called up share capital
102
Profit and loss reserves
(34,541)
Total equity
(34,439)
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
Mr S G Boyd
Director
Company registration number 14995816 (England and Wales)
HIDDEN TOWN PUBS HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 2 -
1
Accounting policies
Company information
Hidden Town Pubs Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 93 Ulverscroft Road, East Dulwich, London, Britain, SE22 9HF.
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 and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises Turnover when:
The amount of Turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
1.4
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.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
HIDDEN TOWN PUBS HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 July 2024
1
Accounting policies
- 3 -
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
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 at transaction price.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
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
Number
Total
2
3
Investment property
2024
£
Fair value
At 11 July 2023
Additions
369,294
At 31 July 2024
369,294
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
100
HIDDEN TOWN PUBS HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 July 2024
4
Fixed asset investments
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 11 July 2023
-
Additions
100
At 31 July 2024
100
Carrying amount
At 31 July 2024
100
5
Subsidiaries
Details of the company's subsidiaries at 31 July 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Hidden Town Pubs Ltd
93 Ulverscroft Road, London, SE22 9HF
Ordinary
100.00
6
Creditors: amounts falling due within one year
2024
£
Bank loans
16,297
Taxation and social security
3,075
Other creditors
21,120
40,492
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
367,405
HIDDEN TOWN PUBS HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 July 2024
- 5 -
8
Loans and overdrafts
2024
£
Bank loans
383,702
Payable within one year
16,297
Payable after one year
367,405
Bank borrowings
HSBC mortgage denominated in GBP with nominal interest rate of 3% per year above the Bank of England base rate. The carrying amount at year end is £383,703.
Loan is secured by fixed and floating charge over all assets and the property at The Alma, 95 Church Road, London.