MSW Pub Company Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

MSW Pub Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09165344 . The registered office is White Leys, Broadstone Lane, Ticknall, Derby, DE73 7LD.

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. This is usually at the point that the customer has signed for the delivery of the goods.

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	N/A
Plant & Machinery	25% on cost
Motor Vehicles	20% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	25% on cost

2.4. 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.

2.5. 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.

...CONTINUED

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MSW Pub Company Ltd

Notes to the Financial Statements (continued)

For the Period 1 February 2024 to 31 March 2025

2.5. Taxation - continued

Current and deferred tax are recognised in profit or loss for the period, 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.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 34 (2024: 37)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 February 2024	4,854	42,531	4,500	100,151
Additions	-	1,149	-	-
Disposals	(4,854 )	(43,680 )	(4,500 )	(100,151 )

As at 31 March 2025	-	-	-	-

Depreciation
As at 1 February 2024	-	37,978	4,500	96,131
Provided during the period	-	3,037	-	1,564
Disposals	-	(41,015 )	(4,500 )	(97,695 )

As at 31 March 2025	-	-	-	-

Net Book Value
As at 31 March 2025	-	-	-	-

As at 1 February 2024	4,854	4,553	-	4,020


	Computer Equipment	Total
	£	£
Cost
As at 1 February 2024	1,490	153,526
Additions	-	1,149
Disposals	(1,490 )	(154,675 )

As at 31 March 2025	-	-

Depreciation
As at 1 February 2024	1,490	140,099
Provided during the period	-	4,601
Disposals	(1,490 )	(144,700 )

As at 31 March 2025	-	-

Net Book Value
As at 31 March 2025	-	-

As at 1 February 2024	-	13,427

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MSW Pub Company Ltd

Notes to the Financial Statements (continued)

For the Period 1 February 2024 to 31 March 2025

5. Stocks

	31 March 2025	31 January 2024
	£	£
Stock	-	22,147

6. Debtors

	31 March 2025	31 January 2024
	£	£
Due within one year
Trade debtors	9,341	-
Amounts owed by group undertakings	314,934	36,704
Other debtors	39,277	21,036

	363,552	57,740

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 January 2024
	£	£
Trade creditors	38,094	86,878
Other creditors	64,759	125,696
Taxation and social security	224,408	98,524

	327,261	311,098

8. Share Capital

	31 March 2025	31 January 2024
	£	£
Allotted, Called up and fully paid	90	90

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 February 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Paul Drain	1,600	1,000	2,600	-	-

The above loan is unsecured, interest free and repayable on demand. Mr P Drain resigned as a director on 10th March 2025 at which point the above loan was transferred to an employee loan account which was repaid on 11th May 2025.

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MSW Pub Company Ltd

Notes to the Financial Statements (continued)

For the Period 1 February 2024 to 31 March 2025

10. Related Party Transactions

At the Balance Sheet date the company was owed £314,934 (2024 - £34,879) from the holding company, With Neil Morrissey Pub Company Limited. The loan is provided interest free, with no security provided and is repayable on demand. A dividend of £nil (2024 - £80,000) was declared and paid to the holding company, With Neil Morrissey Pub Company Limited in the year.

At the Balance Sheet date the company was owed £nil (2024 - £1,826) from a related company, The Old Bramshall Limited. A loan of £2,236 (2024 - £nil) was written off in the period.

Included in other creditors is a Balance due to the directors as follows:

N A Morrissey - £nil (2024 - £20,166)

R J Slingsby - £nil (2024 - £19,840)

The loans are provided at an interest rate of 6% with no security provided and are repayable on demand.

11. Ultimate Controlling Party

The company's ultimate controlling party is With Neil Morrissey Pub Company Limited by virtue of his ownership of 100% of the issued share capital in the company.

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		31 March 2025		31 January 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		13,427

			-		13,427
CURRENT ASSETS
Stocks	5	-		22,147
Debtors	6	363,552		57,740
Cash at bank and in hand		474,775		411,152

		838,327		491,039
Creditors: Amounts Falling Due Within One Year	7	(327,261 )		(311,098 )

NET CURRENT ASSETS (LIABILITIES)			511,066		179,941

TOTAL ASSETS LESS CURRENT LIABILITIES			511,066		193,368

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(2,143 )

NET ASSETS			511,066		191,225

CAPITAL AND RESERVES
Called up share capital	8		90		90
Profit and Loss Account			510,976		191,135

SHAREHOLDERS' FUNDS			511,066		191,225