Individual Pubs Limited
Registered number: 04315642
Balance Sheet
at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 934,568 402,870
Current assets
Stocks 28,432 28,087
Debtors 4 120,114 80,752
Cash at bank and in hand 60,210 196,474
208,756 305,313
Creditors: amounts falling due within one year 5 (228,347) (214,222)
Net current (liabilities)/assets (19,591) 91,091
Total assets less current liabilities 914,977 493,961
Creditors: amounts falling due after more than one year 6 (442,500) (15,000)
Provisions for liabilities (11,000) (11,000)
Net assets 461,477 467,961
Capital and reserves
Called up share capital 400,000 400,000
Profit and loss account 61,477 67,961
Shareholders' funds 461,477 467,961
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richard Tom Naisby
Director
Approved by the board on 23 June 2025
Individual Pubs Limited
Notes to the Financial Statements
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of property and is recognised by reference to the date range the rent is for.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.
Plant and machinery 25% per year
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Employee benefits
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred.
The company operates stakeholder defined contribution pension schemes for the benefit of the employees and directors. The assets of the pension schemes are administered by an independent pensions provider.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 49 48
3 Tangible fixed assets
Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 1 December 2023 360,000 109,761 372,825 842,586
Additions 484,882 21,013 46,650 552,545
At 30 November 2024 844,882 130,774 419,475 1,395,131
Depreciation
At 1 December 2023 - 86,767 352,949 439,716
Charge for the year - 11,002 9,845 20,847
At 30 November 2024 - 97,769 362,794 460,563
Net book value
At 30 November 2024 844,882 33,005 56,681 934,568
At 30 November 2023 360,000 22,994 19,876 402,870
4 Debtors 2024 2023
£ £
Trade debtors 28,854 19,156
Owed by connected company 50,735 55,466
Other taxes 26,669 -
Prepayments and accrued income 11,425 6,130
120,114 80,752
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Secured loan 50,000 -
Trade creditors 57,249 114,751
Taxation and social security costs 16,234 21,493
Other creditors 17,486 61
Accruals and deferred income 77,378 67,917
228,347 214,222
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,000 15,000
Secured loan 437,500 -
442,500 15,000
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loan 487,500 -
The loan is repayable in monthly instalments of £4,167 and is secured on one of the properties included in note 3 above and carries interest at 4.58%.
8 Other information
Individual Pubs Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pegasus House
Pembroke Avenue
Waterbeach
Cambridge
CB25 9PY
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