The Parogon Pub Company Limited - Accounts to registrar (filleted) - small 18.2
The Parogon Pub Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2018 |
| for |
| The Parogon Pub Company Limited |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| The Parogon Pub Company Limited |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| The Glades |
| Festival Way |
| Stoke on Trent |
| Staffordshire |
| ST1 5SQ |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Statement of Financial Position |
| 31 December 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| The Parogon Pub Company Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements cover the company as an individual entity, have been prepared under the |
| historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
| The financial statements have been prepared on the assumption that the company is able to carry on |
| business as a going concern, which the directors consider appropriate having regard to the company's |
| current and expected performance. |
| 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 members of the same group. |
| Turnover |
| Revenue is recognised at the time of sale and reflects the fair value of bar and food sales after deducting |
| discounts and sales based taxes. |
| Tangible fixed assets |
| Improvements to leasehold property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| At each reporting date the company assesses whether there is any indication of impairment. If such |
| indication exists, the recoverable amount of the asset is determined which is the higher of its fair value |
| less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds |
| the recoverable amount. |
| The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an |
| item when that cost is incurred, if the replacement part is expected to provide incremental future |
| benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and |
| maintenance are charged to profit or loss during the period in which they are incurred. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
| and slow moving items. |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
| preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in |
| profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value |
| with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax if applicable. Tax is recognised in the Statement |
| of Income and Retained Earnings, 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 that have been |
| enacted or substantively enacted by the statement of financial position date. |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of |
| the lease. |
| Lease incentives are recognised as a reduction of rental expense and are amortised on a straight line |
| basis. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Fixtures |
| leasehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 6. | DEBTORS |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| VAT | 49,753 | 55,441 |
| Other creditors |
| Accrued expenses |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | CONTINGENT LIABILITIES |
| The company has given an unlimited guarantee, in the form of a debenture dated 4 October 2010, secured |
| on the company's assets, as security for the borrowings of fellow group undertakings. At 31 December |
| 2018 these borrowings amounted to £1,501,840 (2017 - £1,035,351). As at the date of approval of these |
| financial statements the directors do not anticipate that the guarantee will be called upon. |
| The Parogon Pub Company Limited (Registered number: 06325591) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 11. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is The Parogon Pub Group Limited which has the registered office of The |
| Swan With Two Necks, Nantwich Road, Blackbrook, Newcastle, Staffordshire, ST5 5EH. |