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Registered number: 13619202










THE NAG'S HEAD (WYLE COP) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 13 NOVEMBER 2024

 
THE NAG'S HEAD (WYLE COP) LIMITED
REGISTERED NUMBER: 13619202

BALANCE SHEET
AS AT 13 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,238
8,775

  
12,238
8,775

Current assets
  

Stocks
  
21,650
17,740

Debtors
 5 
412,517
417,336

Cash at bank and in hand
 6 
238,353
34,730

  
672,520
469,806

Creditors: amounts falling due within one year
 7 
(91,707)
(85,404)

Net current assets
  
 
 
580,813
 
 
384,402

Total assets less current liabilities
  
593,051
393,177

Provisions for liabilities
  

Deferred tax
  
(2,541)
(1,562)

  
 
 
(2,541)
 
 
(1,562)

Net assets
  
590,510
391,615


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
590,410
391,515

  
590,510
391,615

Page 1

 
THE NAG'S HEAD (WYLE COP) LIMITED
REGISTERED NUMBER: 13619202
    
BALANCE SHEET (CONTINUED)
AS AT 13 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Jennifer Dobb
Director

Date: 12 August 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
THE NAG'S HEAD (WYLE COP) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 13 NOVEMBER 2024

1.


General information

The Nags Head (Wyle Cop) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
THE NAG'S HEAD (WYLE COP) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 13 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
15%
Reducing balance
Computer equipment
-
33%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
THE NAG'S HEAD (WYLE COP) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 13 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term 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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).

Page 5

 
THE NAG'S HEAD (WYLE COP) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 13 NOVEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 14 November 2023
881
9,878
242
11,001


Additions
75
5,662
-
5,737



At 13 November 2024

956
15,540
242
16,738



Depreciation


At 14 November 2023
184
1,913
129
2,226


Charge for the year on owned assets
193
2,044
37
2,274



At 13 November 2024

377
3,957
166
4,500



Net book value



At 13 November 2024
579
11,583
76
12,238



At 13 November 2023
697
7,965
113
8,775


5.


Debtors

2024
2023
£
£



Other debtors
410,340
412,896

Prepayments and accrued income
2,177
4,440

412,517
417,336



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
238,353
34,730

238,353
34,730


Page 6

 
THE NAG'S HEAD (WYLE COP) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 13 NOVEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,955
2,499

Taxation and social security
71,870
73,072

Other creditors
140
34

Accruals and deferred income
8,742
9,799

91,707
85,404



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary Shares shares of £1.00 each
100
100


 
Page 7