Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 12182299 S A Hunter M D Ross M C Hunter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12182299 2024-03-31 12182299 2025-03-31 12182299 2024-04-01 2025-03-31 12182299 frs-core:CurrentFinancialInstruments 2025-03-31 12182299 frs-core:Non-currentFinancialInstruments 2025-03-31 12182299 frs-core:BetweenOneFiveYears 2025-03-31 12182299 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 12182299 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 12182299 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 12182299 frs-core:MoreThanFiveYears 2025-03-31 12182299 frs-core:PlantMachinery 2025-03-31 12182299 frs-core:PlantMachinery 2024-04-01 2025-03-31 12182299 frs-core:PlantMachinery 2024-03-31 12182299 frs-core:WithinOneYear 2025-03-31 12182299 frs-core:ShareCapital 2025-03-31 12182299 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 12182299 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12182299 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 12182299 frs-bus:SmallEntities 2024-04-01 2025-03-31 12182299 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 12182299 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12182299 frs-bus:Director1 2024-04-01 2025-03-31 12182299 frs-bus:Director2 2024-04-01 2025-03-31 12182299 frs-bus:Director3 2024-04-01 2025-03-31 12182299 frs-countries:EnglandWales 2024-04-01 2025-03-31 12182299 2023-03-31 12182299 2024-03-31 12182299 2023-04-01 2024-03-31 12182299 frs-core:CurrentFinancialInstruments 2024-03-31 12182299 frs-core:Non-currentFinancialInstruments 2024-03-31 12182299 frs-core:BetweenOneFiveYears 2024-03-31 12182299 frs-core:MoreThanFiveYears 2024-03-31 12182299 frs-core:WithinOneYear 2024-03-31 12182299 frs-core:ShareCapital 2024-03-31 12182299 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 12182299
Pig's Head Pub Company Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12182299
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 390,690 446,447
390,690 446,447
CURRENT ASSETS
Stocks 5 26,477 28,701
Debtors 6 21,701 22,369
Cash at bank and in hand 290,743 116,217
338,921 167,287
Creditors: Amounts Falling Due Within One Year 7 (793,179 ) (731,278 )
NET CURRENT ASSETS (LIABILITIES) (454,258 ) (563,991 )
TOTAL ASSETS LESS CURRENT LIABILITIES (63,568 ) (117,544 )
Creditors: Amounts Falling Due After More Than One Year 8 (50,000 ) (110,000 )
NET LIABILITIES (113,568 ) (227,544 )
CAPITAL AND RESERVES
Called up share capital 11 90 90
Profit and Loss Account (113,658 ) (227,634 )
SHAREHOLDERS' FUNDS (113,568) (227,544)
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S A Hunter
Director
25 September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pig's Head Pub Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12182299 . The registered office is 87 Rectory Grove, London, SW4 0DR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Evenly over the lease term
Plant & Machinery As below
Plant & Machinery is depreciated on a 25% reducing balance basis and evenly over the lease term subject to the type of individual asset.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2024: 32)
27 32
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2024 377,967 360,091 738,058
Additions 4,167 23,504 27,671
Disposals - (1,292 ) (1,292 )
As at 31 March 2025 382,134 382,303 764,437
Depreciation
As at 1 April 2024 74,818 216,793 291,611
Provided during the period 25,608 56,851 82,459
Disposals - (323 ) (323 )
As at 31 March 2025 100,426 273,321 373,747
Net Book Value
As at 31 March 2025 281,708 108,982 390,690
As at 1 April 2024 303,149 143,298 446,447
Page 4
Page 5
5. Stocks
2025 2024
£ £
Stock 26,477 28,701
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 500
Prepayments and accrued income 7,488 8,874
Other debtors 14,213 12,995
21,701 22,369
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 23,075
Trade creditors 94,927 61,076
Bank loans and overdrafts 60,000 60,000
Other creditors 541,482 521,084
Taxation and social security 96,770 66,043
793,179 731,278
Included within other creditors are the following loans from the directors':
A total of £308,419 (2024: £290,000) owing to Mr Scott Hunter. The closing balance includes interest charged in the year of £28,419. The loan is repayable on demand.
A total of £126,582 (2024: £125,000) owing to Mr Mark Ross. The closing balance includes interest charged in the year of £11,582. The loan is repayable on demand.
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 50,000 110,000
9. Secured Creditors
Of the creditors the following amounts are secured.
The bank loan outstanding at the year end is secured upon a fixed and floating charge over the assets of the company.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 23,075
Bank loans and overdrafts 110,000 170,000
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 23,075
Page 5
Page 6
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 90 90
12. Contingent Liabilities
2025 2024
£ £
At the end of the period 166,260 166,260
Prior to the balance sheet date, the company had entered into a cross guarantee on the bank debt of Bad Egg Limited, a company which has subsequently been insolvently liquidated. Bad Egg Limited had total bank debts of £166,260, which, along with accrued interest, could be called on from the company by the bank under this guarantee.
The bank has confirmed that it will not be pursuing the composite guarantee at this stage but has not confirmed that this debt has been fully relieved.
Should the bank formally call in the full debt under the guarantee in the future, the company would have an additional liability of £166,260 plus accrued interest.
13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 74,000 74,000
Later than one year and not later than five years 296,000 296,000
Later than five years 518,000 592,000
888,000 962,000
The operating lease is in respect of the leased property at 87 Rectory Grove, London, SW4 0DR.
14. Related Party Transactions
During the year the company was charged a total of £36,667 (2024: £25,000) from Antidote Projects Limited, a shareholder. These were in respect of management charges to the company.
During the year the company was charged a total of £55,000 (2024: NIL) from Antidote Projects Int SLU, a company under the control of two directors, Mr Scott Hunter and Mrs Maria Hunter. These were in respect of management charges to the company.
15. Going Concern
As detailed above, the company has a contingent liability under a cross guarantee arrangement totalling £166,260 plus accrued interest.
The bank has confirmed that it will not be pursuing the composite guarantee at this stage but has not confirmed that this debt has been fully relieved.
Should the amount of the debt be sought in full, or a substantial portion thereof, this would create a material uncertainty in the company's ability to continue as a going concern.
Currently, the financial statements are prepared on a going concern basis due to the support of the directors. However, should this additional liability be applied, the directors feel that the company's abilitiy to continue as a going concern would be significantly in doubt.
Page 6