X2 Pubs Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11461189 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

X2 PUBS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B P Hedley

REGISTERED OFFICE:

Tall Trees Newstead Abbey Park

Ravenshead

Nottingham

NG15 8GD

REGISTERED NUMBER:

11461189 (England and Wales)

ACCOUNTANTS:

Michael A Jarvis & Co Ltd

Edenthorpe

Grove Road

Rotherham

South Yorkshire

S60 2ER

FIXED ASSETS

Tangible assets

4

10,810

14,413

CURRENT ASSETS

Stocks

1,500

4,500

Debtors

5

24,954

24,725

Cash at bank and in hand

34,698

16,391

61,152

45,616

CREDITORS

Amounts falling due within one year

6

50,597

58,417

NET CURRENT ASSETS/(LIABILITIES)

10,555

(12,801

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,365

1,612

PROVISIONS FOR LIABILITIES

2,053

2,738

NET ASSETS/(LIABILITIES)

19,312

(1,126

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

19,302

(1,136

)

19,312

(1,126

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 August 2021 and were signed by:

B P Hedley - Director

1.	STATUTORY INFORMATION

X2 Pubs Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

24,202

DEPRECIATION

At 1 April 2020

9,789

Charge for year

3,603

At 31 March 2021

13,392

NET BOOK VALUE

At 31 March 2021

10,810

At 31 March 2020

14,413

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

24,954

24,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

1

Taxation and social security

6,146

7,614

Other creditors

44,451

50,802

50,597

58,417

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

B P Hedley

Balance outstanding at start of year

(50,802

)

(70,505

)

Amounts advanced

26,351

-

Amounts repaid

-

19,703

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(24,451

)

(50,802

)

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B P Hedley.