The Parogon Pub Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06325591 (England and Wales)

Financial Statements

for the Year Ended 31 December 2017

for

The Parogon Pub Company Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D E Myers

R J Colclough

J L Keates

P M Sharp

C Childs

SECRETARY:

R J Colclough

REGISTERED OFFICE:

The Swan With Two Necks

Nantwich Road

Blackbrook

Newcastle under Lyme

ST5 5EH

REGISTERED NUMBER:

06325591 (England and Wales)

AUDITORS:

Mitten Clarke Audit Limited

Statutory Auditors

The Glades

Festival Way

Stoke on Trent

Staffordshire

ST1 5SQ

FIXED ASSETS

Tangible assets

5

8,488

28,637

CURRENT ASSETS

Stocks

30,948

30,340

Debtors

6

531,939

250,392

Cash at bank and in hand

156,355

354,601

719,242

635,333

CREDITORS

Amounts falling due within one year

7

289,905

310,112

NET CURRENT ASSETS

429,337

325,221

TOTAL ASSETS LESS CURRENT LIABILITIES

437,825

353,858

CAPITAL AND RESERVES

Called up share capital

4,000

4,000

Retained earnings

433,825

349,858

SHAREHOLDERS' FUNDS

437,825

353,858

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 10 September 2018 and were signed on its behalf by:

R J Colclough - Director

1.	STATUTORY INFORMATION

The Parogon Pub Company 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.

2.	STATEMENT OF COMPLIANCE

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

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 subsidiaries within the group.

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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% on cost

Stocks

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

and slow moving items.

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 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 that have been

enacted or substantively enacted by the statement of financial position date.

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.

4.

EMPLOYEES

The average number of employees during the year was 68 (2016 - 73 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2017

and 31 December 2017

259,535

125,030

3,770

388,335

DEPRECIATION

At 1 January 2017

239,529

116,399

3,770

359,698

Charge for year

17,372

2,777

-

20,149

At 31 December 2017

256,901

119,176

3,770

379,847

NET BOOK VALUE

At 31 December 2017

2,634

5,854

-

8,488

At 31 December 2016

20,006

8,631

-

28,637

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

515,136

233,861

Other debtors

16,803

16,531

531,939

250,392

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

116,909

117,442

Taxation and social security

90,142

114,624

Other creditors

82,854

78,046

289,905

310,112

8.	LEASING AGREEMENTS

The company has future operating lease commitments of £1,811,563 (2016 - £1,943,313).

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

The Report of the Auditors was unqualified.

Adam Clarke BA FCA (Senior Statutory Auditor)

for and on behalf of Mitten Clarke Audit Limited

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

2017 these borrowings amounted to £1,035,351 (2016 - £1,192,018). As at the date of approval of these

financial statements the directors do not anticipate that the guarantee will be called upon.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

J L Keates

Balance outstanding at start of year

393

653

Amounts repaid

(393

)

(260

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

393

The advances were interest free, unsecured and repayable on demand.

There were no balances owing to the company at the year end.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is The Parogon Pub Group Limited which has the registered office The Swan

With Two Necks, Nantwich Road, Blackbrook, Newcastle, Staffordshire, ST5 5EH.