for the Period Ended 30 September 2024
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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(
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Gross profit(or loss): |
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Administrative expenses: |
(
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(
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Operating profit(or loss): |
( |
( |
Interest receivable and similar income: |
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Interest payable and similar charges: |
(
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(
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Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Called up share capital not paid: |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 6 |
(
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(
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Other reserves: |
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Profit and loss account: |
( |
( |
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Total Shareholders' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 September 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 30 September 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 30 September 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 October 2023 |
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Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 30 September 2024 |
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Depreciation | ||||||
At 1 October 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 30 September 2024 |
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Net book value | ||||||
At 30 September 2024 |
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At 30 September 2023 |
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for the Period Ended 30 September 2024
2024 | 2023 | |
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£ | £ | |
Other debtors |
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Total |
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for the Period Ended 30 September 2024
2024 | 2023 | |
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£ | £ | |
Accruals and deferred income |
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Total |
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for the Period Ended 30 September 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Amounts due under finance leases and hire purchase contracts |
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Total |
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The Company was formed to raise funding to enable the local community to purchase the local village pub and save it from closure. Funds were raised from the local community through a share issue, by two loans acquired from within the community and by way of a grant from the national lottery. £270,900 was raised which enabled the pub to be purchased and provide enough working capital to sustain the business start up and pay for the improvements that were needed. The pub was purchased in December 2013. Investors receive a return of 2.5% on their preference shares which each cost £50 and can purchase an ordinary share for £10.There are approximately2800 preference shares which have to be paid interest of £3500 per annum. The pub has incurred some large maintenance bills within the year but remains open for the local community.
The stakeholders are primarily people living in the local community although some relatives have also become stakeholders. Investment has all been through Horningsea CIC.The pub had to be purchased by the end of December 2013 to meet the time limits stipulated by the pub owners and the national lottery. The purchase of the pub was completed on 10th December 2013 for £205,450. Primarily people are kept updated by way of a newsletter. Feedback and suggestions as to how the pub operates and its offering are raised at regular Board meetings. The Company holds its AGM in the pub and the next one is due to be held in June 2025
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
23 April 2025
And signed on behalf of the board by:
Name: Liam Flaherty
Status: Director