MSW Pub Company Limited - Accounts to registrar (filleted) - small 17.3
MSW Pub Company Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JANUARY 2017 |
| FOR |
| MSW PUB COMPANY LIMITED |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31st January 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| MSW PUB COMPANY LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31st January 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Grafton House |
| Bulls Head Yard |
| Alcester |
| Warwickshire |
| B49 5BX |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| STATEMENT OF FINANCIAL POSITION |
| 31st January 2017 |
| 31.1.17 | 31.1.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31st January 2017 |
| 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 on |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31st January 2017 |
| 1. | STATUTORY INFORMATION |
| MSW Pub Company Limited is a |
| 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 |
| The financial statements for the company have been prepared on a going concern basis even though, at the |
| Balance Sheet date, the company has net liabilities as recorded on the Balance Sheet. |
| The directors consider the going concern basis to be appropriate because, in their opinion, the company will be |
| able to pay its debts as they fall due, due to their ongoing support. |
| RATES INCREASE |
| In common with many other businesses in the pub industry, the financial position of the company was adversely |
| effected by a substantial and unexpected rise in the non-domestic business rates bill which impacted during the |
| period of these accounts. This has contributed to the net liabilities position reported on the Balance Sheet. This |
| position has been carefully monitored and managed by the directors who remain confident about the future |
| prospects for the company. |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Office equipment | - |
| 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 statement of financial position date. |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st January 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all material 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 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and | Office |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st February 2016 |
| Additions |
| At 31st January 2017 |
| DEPRECIATION |
| At 1st February 2016 |
| Charge for year |
| At 31st January 2017 |
| NET BOOK VALUE |
| At 31st January 2017 |
| At 31st January 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| MSW PUB COMPANY LIMITED (REGISTERED NUMBER: 09165344) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st January 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Other creditors |
| 8. | RELATED PARTY DISCLOSURES |
| At the Balance Sheet date the company was owed £26,486 (2016 - £31,839) 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 . |
| Included in other creditors is a Balance due to the directors as follows: |
| N A Morrissey - £14,421 (2016 - £16,519) |
| R J Slingsby - £14,469 (2016 - £17,280) |
| J G Sykes - Nil (2016 - £487) |
| The loans are provided interest free with no security provided and are repayable on demand. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company was controlled from 18th September 2015 by the holding company, With Neil Morrissey Pub Company Limited . |
| 10. | DIRECTOR'S GUARANTEES |
| The directors, N A Morrissey and R J Slingsby, have provided a personal guarantee on the loan from Punch |
| Taverns used to purchase fixtures and fittings and a guarantee over the lease. At the Balance Sheet the loan in |
| relation to the fixtures and fittings amounted to £46,651 (£66,049). |