Company registration number 05227308 (England and Wales)
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
63,417
68,689
Investments
5
225,004
225,004
288,421
293,693
Current assets
Stocks
4,667
6,902
Debtors
6
21,631
27,410
Cash at bank and in hand
4,090
4
30,388
34,316
Creditors: amounts falling due within one year
7
(260,981)
(274,603)
Net current liabilities
(230,593)
(240,287)
Total assets less current liabilities
57,828
53,406
Creditors: amounts falling due after more than one year
8
(12,873)
(17,597)
Provisions for liabilities
9
(10,084)
(13,051)
Net assets
34,871
22,758
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
34,771
22,658
Total equity
34,871
22,758
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 June 2025
James Rix
Director
Company registration number 05227308 (England and Wales)
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Rixy Pub Co Ltd (Formerly known as Rixy Mash Pub Co. Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 2 High Street, Hunsdon, Herts, SG12 8NH.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for restaurant & public house takings net of VAT. Turnover also includes a proportion of service charge retained by the company.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
over length of lease
Fixtures, fittings & equipment
10% reducing balance
Computers
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in associates 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 recognized immediately in profit or loss.
As associate in 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.
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.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price.
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
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.
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Certain comparative amounts have been restated to ensure comparability without affecting the relevant net results.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
24
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
117,765
146,676
264,441
Additions
2,662
2,662
At 30 September 2024
117,765
149,338
267,103
Depreciation and impairment
At 1 October 2023
105,342
90,410
195,752
Depreciation charged in the year
2,079
5,855
7,934
At 30 September 2024
107,421
96,265
203,686
Carrying amount
At 30 September 2024
10,344
53,073
63,417
At 30 September 2023
12,423
56,266
68,689
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
225,004
225,004
Company has made an investment of £225,004 (2023 - £225,004) to the company registered in England and Wales which is controlled by the company's director.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
15,545
21,031
Other debtors
6,086
6,379
21,631
27,410
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,319
27,837
Trade creditors
58,240
61,414
Taxation and social security
27,029
22,544
Other creditors
154,393
162,808
260,981
274,603
Other creditor includes amounts of £127,172 (2023 : £137,374) due to Rixy Property Investment Ltd, company under the control of company's director, James Rix.
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
12,873
17,597
Bounce back loan of £22,723 (2023 : £27,447) is backed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
10
10,084
13,051
RIXY PUB CO LTD (FORMERLY KNOWN AS RIXY MASH PUB CO. LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
10
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
10,084
13,051
2024
Movements in the year:
£
Liability at 1 October 2023
13,051
Credit to profit or loss
(2,967)
Liability at 30 September 2024
10,084
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.