IRIS Accounts Production v26.1.10.61 03609525 Board of Directors Board of Directors 2.2.25 31.1.26 31.1.26 9/4/2026 false true false false true false Auditors Opinion Ordinary 1.00000 'A' Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03609525 2025-02-01 03609525 2026-01-31 03609525 2025-02-02 2026-01-31 03609525 2024-02-03 03609525 2024-02-04 2025-02-01 03609525 2025-02-01 03609525 ns15:EnglandWales 2025-02-02 2026-01-31 03609525 ns14:PoundSterling 2025-02-02 2026-01-31 03609525 ns10:Director1 2025-02-02 2026-01-31 03609525 ns10:Director2 2025-02-02 2026-01-31 03609525 ns10:PrivateLimitedCompanyLtd 2025-02-02 2026-01-31 03609525 ns10:SmallEntities 2025-02-02 2026-01-31 03609525 ns10:Audited 2025-02-02 2026-01-31 03609525 ns10:SmallCompaniesRegimeForDirectorsReport 2025-02-02 2026-01-31 03609525 ns10:SmallCompaniesRegimeForAccounts 2025-02-02 2026-01-31 03609525 ns10:FullAccounts 2025-02-02 2026-01-31 03609525 ns10:OrdinaryShareClass1 2025-02-02 2026-01-31 03609525 ns10:OrdinaryShareClass2 2025-02-02 2026-01-31 03609525 ns10:Director3 2025-02-02 2026-01-31 03609525 ns10:Director4 2025-02-02 2026-01-31 03609525 ns10:Director5 2025-02-02 2026-01-31 03609525 ns10:CompanySecretary1 2025-02-02 2026-01-31 03609525 ns10:RegisteredOffice 2025-02-02 2026-01-31 03609525 ns5:CurrentFinancialInstruments 2026-01-31 03609525 ns5:CurrentFinancialInstruments 2025-02-01 03609525 ns5:ShareCapital 2026-01-31 03609525 ns5:ShareCapital 2025-02-01 03609525 ns5:SharePremium 2026-01-31 03609525 ns5:SharePremium 2025-02-01 03609525 ns5:RetainedEarningsAccumulatedLosses 2026-01-31 03609525 ns5:RetainedEarningsAccumulatedLosses 2025-02-01 03609525 1 2025-02-02 2026-01-31 03609525 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-02-02 2026-01-31 03609525 ns5:FurnitureFittings 2025-02-02 2026-01-31 03609525 ns5:MotorVehicles 2025-02-02 2026-01-31 03609525 ns5:ComputerEquipment 2025-02-02 2026-01-31 03609525 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-02-01 03609525 ns5:FurnitureFittings 2025-02-01 03609525 ns5:MotorVehicles 2025-02-01 03609525 ns5:ComputerEquipment 2025-02-01 03609525 ns5:LongLeaseholdAssets ns5:LandBuildings 2026-01-31 03609525 ns5:FurnitureFittings 2026-01-31 03609525 ns5:MotorVehicles 2026-01-31 03609525 ns5:ComputerEquipment 2026-01-31 03609525 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-02-01 03609525 ns5:FurnitureFittings 2025-02-01 03609525 ns5:MotorVehicles 2025-02-01 03609525 ns5:ComputerEquipment 2025-02-01 03609525 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2026-01-31 03609525 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-01 03609525 ns5:WithinOneYear 2026-01-31 03609525 ns5:WithinOneYear 2025-02-01 03609525 ns5:BetweenOneFiveYears 2026-01-31 03609525 ns5:BetweenOneFiveYears 2025-02-01 03609525 ns5:MoreThanFiveYears 2026-01-31 03609525 ns5:MoreThanFiveYears 2025-02-01 03609525 ns5:AllPeriods 2026-01-31 03609525 ns5:AllPeriods 2025-02-01 03609525 ns5:DeferredTaxation 2025-02-01 03609525 ns5:DeferredTaxation 2025-02-02 2026-01-31 03609525 ns5:DeferredTaxation 2026-01-31 03609525 ns10:OrdinaryShareClass1 2026-01-31 03609525 ns10:OrdinaryShareClass2 2026-01-31

REGISTERED NUMBER: 03609525 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

FOR

MARKET TOWN TAVERNS LIMITED

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

MARKET TOWN TAVERNS LIMITED

COMPANY INFORMATION

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

| DIRECTORS: | J D Clague

| Ms G R Cowley

| M N Crowther

| D Hall

| O G Neale

| SECRETARY: | D Hall

| REGISTERED OFFICE: | Arcadia Otley Road

| Headingley

| Leeds

| Yorkshire

| LS6 2UE

| REGISTERED NUMBER: | 03609525 (England and Wales)

| AUDITORS: | Moore Dixon LP

| 26-28 Athol Street

| Douglas

| Isle of Man

| IM1 IJB

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

STATEMENT OF FINANCIAL POSITION

31 JANUARY 2026

| 31/1/26 | 1/2/25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 363,716 |  | 442,496 |  |

CURRENT ASSETS

Stocks | 79,236 |  | 77,704 |  |

Debtors | 6 | 355,799 |  | 339,313 |  |

Cash at bank | 76,686 |  | 74,026 |  |

511,721 |  | 491,043 |  |

CREDITORS

Amounts falling due within one year | 7 | 5,305,127 |  | 5,617,809 |  |

NET CURRENT LIABILITIES | (4,793,406 | ) | (5,126,766 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (4,429,690 | ) | (4,684,270 | ) |

CAPITAL AND RESERVES

Called up share capital | 10 | 624,664 |  | 624,664 |  |

Share premium | 5,605 |  | 5,605 |  |

Retained earnings | (5,059,959 | ) | (5,314,539 | ) |

SHAREHOLDERS' FUNDS | (4,429,690 | ) | (4,684,270 | ) |

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2026 and were signed on its behalf by:

D Hall - Director

M N Crowther - Director

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

1. | STATUTORY INFORMATION

| Market Town Taverns 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost conventions unless otherwise specified.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of asset and liabilities that are not readily apparent from other sources. The estimate 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.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable from the provision of food and beverages from its ale and wine bars & accommodation in the normal course of business, and is shown net of VAT and trade discounts.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Long leasehold | - | straight line over period of lease

| Fixtures and fittings | - | 1 to 11 years

| Motor vehicles | - | Over 5 years

| Computer equipment | - | 5 to 10 years

| Tangible fixed assets are recorded at cost. When an asset is sold the cost and accumulated depreciation are recognised in the profit and loss account and off set against the sale proceeds.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' .

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial instruments, which includes trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Basic financial liabilities

| Basic financial liabilities, including trade and other payables, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument's measured at present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade payables are recognised at transaction price and subsequently measure at amortised cost using the effective interest method.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

3. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Going concern

| The company is currently in a net liability position and continues to suffer recurring losses. Therefore, the Company is dependant upon the continuing financial support of its parent company, Heron and Brearley Holdings (Isle of Man) Limited in order to allow it to meet its operational obligations as they fall due. The directors are satisfied that this financial support as reflected by amounts owed to group undertakings (Note 8), will continue and therefore have continued to adopt the going concern basis in preparing its financial statements.

| Employee benefits

| The costs of short term benefits are recognised as a liability and an expense, unless those costs are required to be recognised as stock.

| The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received. This is only recognised if considered to be material.

| 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.

| Expenses

| Expenses are accounted for on an accruals basis.

| Provisions

| Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to settle the obligation is recognised at its present value. When a provision is measured at present value, the unwinding of the discount as a finance cost in the profit or loss in the period in which it arises.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 76 (2025 - 228 ) .

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | and |  | Motor |  | Computer |

| leasehold |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 2 February 2025 | 395,597 |  | 1,022,902 |  | 111,601 |  | 25,200 |  | 1,555,300 |  |

| Additions | - |  | 80,443 |  | - |  | - |  | 80,443 |  |

| Disposals | (18,964 | ) | (146,875 | ) | - |  | - |  | (165,839 | ) |

| At 31 January 2026 | 376,633 |  | 956,470 |  | 111,601 |  | 25,200 |  | 1,469,904 |  |

| DEPRECIATION

| At 2 February 2025 | 272,810 |  | 737,894 |  | 76,900 |  | 25,200 |  | 1,112,804 |  |

| Charge for period | 25,857 |  | 117,430 |  | 11,411 |  | - |  | 154,698 |  |

| Eliminated on disposal | (18,964 | ) | (142,350 | ) | - |  | - |  | (161,314 | ) |

| At 31 January 2026 | 279,703 |  | 712,974 |  | 88,311 |  | 25,200 |  | 1,106,188 |  |

| NET BOOK VALUE

| At 31 January 2026 | 96,930 |  | 243,496 |  | 23,290 |  | - |  | 363,716 |  |

| At 1 February 2025 | 122,787 |  | 285,008 |  | 34,701 |  | - |  | 442,496 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31/1/26 |  | 1/2/25

£ | £ |

| Trade debtors | 12,753 |  | 14,273 |  |

| Amounts owed by group undertakings | 16,987 |  | - |  |

| Other debtors | 326,059 |  | 325,040 |  |

355,799 |  | 339,313 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31/1/26 |  | 1/2/25

£ | £ |

| Trade creditors | 326,720 |  | 348,297 |  |

| Amounts owed to group undertakings | 4,808,421 |  | 5,032,270 |  |

| Taxation and social security | 67,306 |  | 59,712 |  |

| Other creditors | 102,680 |  | 177,530 |  |

5,305,127 |  | 5,617,809 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31/1/26 |  | 1/2/25

£ | £ |

| Within one year | 100,661 |  | 100,661 |  |

| Between one and five years | 226,695 |  | 299,656 |  |

| In more than five years | 122,206 |  | 149,630 |  |

449,562 |  | 549,947 |  |

MARKET TOWN TAVERNS LIMITED (REGISTERED NUMBER: 03609525)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 2 FEBRUARY 2025 TO 31 JANUARY 2026

9. | DEFERRED TAX

£ |

| Balance at 2 February 2025 | (243,906 | ) |

| Provided during period | (1 | ) |

| Balance at 31 January 2026 | (243,907 | ) |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31/1/26 |  | 1/2/25

| value: | £ | £ |

| 624,564 | Ordinary | £1 | 624,564 |  | 624,564 |  |

| 100 | 'A' Ordinary | £1 | 100 |  | 100 |  |

624,664 |  | 624,664 |  |

| Ordinary share capital carries full voting rights to participate in distributions of income or capital. A shares carry no voting rights to participate in any distribution of income or capital.

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Andrew Dixon (Senior Statutory Auditor)

| for and on behalf of Moore Dixon LP

| We draw attention to the balance sheet of the financial statements, which indicates that the company has net liabilities of £4,429,690 (2025: £4,684,270) and a profit of £254,580 (2025: loss £96,630) and is dependent upon the continuing financial support of its parent company, Heron and Brearley Holdings Limited, in order to allow it to meet its operational obligations as they fall due. The conditions set forth in note 3 indicates that a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

12. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is considered to be Heron and Brearley Holdings Limited, a company based in the Isle of Man.

| The consolidated financial statements are drawn up by Heron and Brearley Holdings Limited, whose address is:

| Distribution Centre,

| Kewaigue

| Douglas

| IM2 1QG

| Isle of Man

13. | LOAN GUARANTEE

| The Company has given an unlimited guarantee over loans taken out by the former parent company, Heron and Brearley Limited. Security consisting of first legal fixed and floating charge over all assets held by the Company has also been granted.

| In addition there is also a secondary charge over all the assets held by the company following the issuance of loan notes by Heron and Brearley Holdings Limited.