The Cotswold Cock Inn Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08462039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2022 TO 31 DECEMBER 2022

FOR

THE COTSWOLD COCK INN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sir A C Gallagher

Mr C Palmer

REGISTERED OFFICE:

The Cock Inn

The Green

Combe

Witney

Oxfordshire

OX29 8NT

REGISTERED NUMBER:

08462039 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

FIXED ASSETS

Tangible assets

4

950,000

356,000

CURRENT ASSETS

Stocks

5

-

2,750

Debtors

6

898

-

Cash at bank and in hand

-

3,405

898

6,155

CREDITORS

Amounts falling due within one year

7

82,305

383,253

NET CURRENT LIABILITIES

(81,407

)

(377,098

)

TOTAL ASSETS LESS CURRENT LIABILITIES

868,593

(21,098

)

CREDITORS

Amounts falling due after more than one year

8

(376,231

)

-

PROVISIONS FOR LIABILITIES

9

(112,860

)

-

NET ASSETS/(LIABILITIES)

379,502

(21,098

)

CAPITAL AND RESERVES

Called up share capital

10

2

2

Revaluation reserve

11

481,140

-

Retained earnings

(101,640

)

(21,100

)

SHAREHOLDERS' FUNDS

379,502

(21,098

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:

Mr C Palmer - Director

1.	STATUTORY INFORMATION

The Cotswold Cock Inn 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 as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through funds from the parent company. The company expects to be able to operate within these facilities. On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.The directors have confirmed that the parent company will continue to support the company.

Preparation of consolidated financial statements

The company is a wholly owned subsidiary of MPG Local Pub Limited, whose registered office is The Chequers, Church Road, Churchill, Chipping Norton, Oxfordshire OX7 6NJ. That company is exempt from preparing group accounts.

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.

Freehold property

-

not provided

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

The directors perform annual impairment reviews in accordance with the requirements of the FRS102A to ensure that the recoverable amount is not lower than the carrying value.

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 period 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 April 2022

356,000

Revaluations

594,000

At 31 December 2022

950,000

NET BOOK VALUE

At 31 December 2022

950,000

At 31 March 2022

356,000

Cost or valuation at 31 December 2022 is represented by:

Freehold

property

£

Valuation in 2022

594,000

Cost

356,000

950,000

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.22

31.3.22

£

£

Cost

356,000

-

Freehold property was valued on an open market basis on 31 December 2022 by the director Mr C Palmer .

5.

STOCKS

31.12.22

31.3.22

£

£

Stocks

-

2,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.3.22

£

£

VAT

898

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.3.22

£

£

Bank loans and overdrafts

30,704

19,687

Social security and other taxes

-

740

VAT

-

296

Directors' current accounts

-

361,090

Accrued expenses

51,601

1,440

82,305

383,253

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.3.22

£

£

Amounts owed to group undertakings

376,231

-

9.	PROVISIONS FOR LIABILITIES

31.12.22

31.3.22

£

£

Deferred tax

Freehold property revaluation

112,860

-

Deferred

tax

£

Freehold property revaluation

112,860

Balance at 31 December 2022

112,860

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.3.22

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Revaluation

reserve

£

Revaluation

481,140

At 31 December 2022

481,140