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REGISTERED NUMBER: 04859954 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Gamebird Inns Limited

Gamebird Inns Limited (Registered number: 04859954)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gamebird Inns Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs J M Jess
D P Snook





SECRETARY: D P Snook





REGISTERED OFFICE: Stonehouse
Sawyers Mill
Hunstrete
Bristol
BS39 4NT





REGISTERED NUMBER: 04859954 (England and Wales)





ACCOUNTANTS: Northcott Accountancy Limited
Chartered Accountants
134 Johnson Road
Bristol
BS16 7JP

Gamebird Inns Limited (Registered number: 04859954)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 4 83,895 106,646
Tangible assets 5 1,513,408 1,527,231
1,597,303 1,633,877

CURRENT ASSETS
Stocks 6 15,898 12,095
Debtors 7 20,287 26,749
Cash at bank and in hand 185,390 146,557
221,575 185,401
CREDITORS
Amounts falling due within one year 8 (220,139 ) (180,250 )
NET CURRENT ASSETS 1,436 5,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,598,739

1,639,028

CREDITORS
Amounts falling due after more than one
year

9

(90,297

)

(213,313

)

PROVISIONS FOR LIABILITIES (15,413 ) -
NET ASSETS 1,493,029 1,425,715

Gamebird Inns Limited (Registered number: 04859954)

Balance Sheet - continued
31 December 2021

2021 2020
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 12 1,482,500 1,482,500
Retained earnings 10,529 (56,785 )
SHAREHOLDERS' FUNDS 1,493,029 1,425,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





D P Snook - Director


Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Gamebird Inns 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. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principle accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on the economy as a whole, the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed relevant information and has considered the possible measures that could be undertaken to mitigate the adverse conditions. Based on this assessment and the current resources available, the directors have concluded that they can continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods or services provided in the normal course of business, net of discounts and VAT. All turnover arises in the United Kingdom.

Turnover in respect of drink and food sales is recognised at the point at which the goods are provided. Turnover in respect of accommodation sales is recognised at the point at which the service has been rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2005 and 2011 is being amortised evenly over the estimated useful lives of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property60% of the value in respect of freehold land is non-depreciable. The
remaining 40% is depreciated on a straight line basis over 50 years
with 50% estimated residual value.


Fixtures and fittingsStraight line over 5 or 10 years
Computer equipmentStraight line over 3 or 10 years

Freehold land capitalised within freehold property is not depreciated in accordance with FRS 102.

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are dereognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditor and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when and only when the company's contractual obligations are discharged, cancelled or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued
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.

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.

Government grants
Grants received in respect of the Coronavirus Job Retention Scheme are credited to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2020 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 455,000
AMORTISATION
At 1 January 2021 348,354
Amortisation for year 22,751
At 31 December 2021 371,105
NET BOOK VALUE
At 31 December 2021 83,895
At 31 December 2020 106,646

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 1,584,443 181,731 15,762 1,781,936
Additions 550 9,892 - 10,442
At 31 December 2021 1,584,993 191,623 15,762 1,792,378
DEPRECIATION
At 1 January 2021 124,670 120,701 9,334 254,705
Charge for year 9,731 12,347 2,187 24,265
At 31 December 2021 134,401 133,048 11,521 278,970
NET BOOK VALUE
At 31 December 2021 1,450,592 58,575 4,241 1,513,408
At 31 December 2020 1,459,773 61,030 6,428 1,527,231

6. STOCKS
2021 2020
£    £   
Stocks 15,898 12,095

7. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Other debtors 1,079 1,500
Directors' current accounts 8,870 8,120
Prepayments and accrued income 10,338 14,004
20,287 23,624

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


7. DEBTORS - continued
2021 2020
£    £   
Amounts falling due after more than one year:
Other debtors - 3,125

Aggregate amounts 20,287 26,749

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 10) 68,441 64,649
Trade creditors 46,717 24,817
Tax 17,027 5,028
Social security and other taxes 5,085 2,225
VAT 35,803 25,299
Other creditors 14,812 9,099
Accruals and deferred income 32,254 49,133
220,139 180,250

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Bank loans (see note 10) 90,297 213,313

10. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 68,441 64,649

Amounts falling due between two and five years:
Bank loans - 2-5 years 90,297 213,313

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


11. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 158,738 277,962

The company's bankers hold a debenture dated November 2003 incorporating fixed and floating charges over all of the current and future property and assets of the company.

The company's bankers also hold two legal mortgages over the following properties owned by the company:
- The Kingsdon Inn, Kingsdon, Somerton, Somerset
- The Halfway House. Pitney House, Langport, Somerset

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1,482,500 Ordinary £1 1,482,500 1,482,500

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2021 2020
£    £   
D P Snook
Balance outstanding at start of year 8,120 3,271
Amounts advanced 30,750 4,849
Amounts repaid (30,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,870 8,120

The loan is interest free and repayable on demand.

Gamebird Inns Limited (Registered number: 04859954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


14. POST BALANCE SHEET EVENTS

Post year end the company directors decided to sell one of the public houses it operates to an independent third party. The sale is due to complete shortly and it is anticipated that an overall loss of £215,000 will be realised.