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Registration number: 14306410

Cobourg Pubs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Cobourg Pubs Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Cobourg Pubs Limited

Company Information

Directors

Mr M Evans

Ms J Jones

Registered office

Trembyr
Four Winds Lane
Penally
Tenby
SA70 7PB

 

Cobourg Pubs Limited

(Registration number: 14306410)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

520,096

520,096

Current assets

 

Debtors

5

7,544

-

Cash at bank and in hand

 

17,381

33,192

 

24,925

33,192

Creditors: Amounts falling due within one year

6

(461,851)

(529,465)

Net current liabilities

 

(436,926)

(496,273)

Net assets

 

83,170

23,823

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

83,070

23,723

Total equity

 

83,170

23,823

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................
Mr M Evans
Director

   
     
 

Cobourg Pubs Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Trembyr
Four Winds Lane
Penally
Tenby
SA70 7PB

These financial statements were authorised for issue by the Board on 29 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 revenue when:
The amount of revenue 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Cobourg Pubs Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 December

520,096

There has been no valuation of investment property by an independent valuer.

 

Cobourg Pubs Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

6,159

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

1,385

-

 

7,544

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

1,105

2,054

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

440,140

515,799

Directors' loan accounts

8

-

4,900

Corporation tax liability

 

19,795

5,565

Other creditors

 

811

1,147

 

461,851

529,465

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

During the year the company received financial assistance from Cobourg Development Limited, a company controlled by the director.The balance due to the company at the balance sheet date was £440,140 (2023 £519,699) This loan is interest free and repayable on demand and has been included under note 6.

During the year the company gave financial assistance to The Bucaneer Sun Inn Limited, a company controlled by the director.The balance due to the company at the balance sheet date was £118 (2023 £0). This loan is interest free and repayable on demand and has been included under note 5.

During the year the company gave financial assistance to Tenby Bookshop (Tenby) Limited, a company controlled by the director.The balance due to the company at the balance sheet date was £1,267 (2023 £0). This loan is interest free and repayable on demand and has been included under note 5.

 

Cobourg Pubs Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

At 30 November 2024
£

Mr M Evans

Interest free and repayable on demand

(4,900)

10,455

5,555

       
     

 

2023

At 19 August 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Evans

Interest free and repayable on demand

-

100

(5,000)

(4,900)