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REGISTERED NUMBER: 07673624 (England and Wales)





















Report of the Directors and

Financial Statements

for the Year Ended 31 August 2023

for

The Sorrel Horse Shottisham Limited

The Sorrel Horse Shottisham Limited (Registered number: 07673624)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Chairman's Report 400

Report of the Directors 3

Report of the Accountants 4

Statement of Income and Retained Earnings 5

Balance Sheet 6

Notes to the Financial Statements 7


The Sorrel Horse Shottisham Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: I D Murray
D F P Broome
C L Dautzenberg
K L Mahoney
C V Norton
D A Woodmansey
N Livermore





REGISTERED OFFICE: 8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL





REGISTERED NUMBER: 07673624 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Chairman's Report
for the Year Ended 31 August 2023

The business has returned to profitability and the last of the Covid-19 rent credits have now been cleared. However, the trading climate in the hospitality sector remains challenging. After reviewing the market and taking guidance on rents, we charged rent at below the value stated in the original lease.

In common with all operators in the hospitality sector our tenants continue to experience high energy costs, increasing insurance premiums, continuing food inflation and staff recruitment issues. This is reflected in current the level of rent arrears.

We expect to make a profit in the coming year and continue to steadily build our cash balance. We need to build up our resilience in what will continues to be a difficult market that is reliant on our tenants continuing to attract customers with a diminishing level of discretionary spend.

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Report of the Directors
for the Year Ended 31 August 2023

The directors present their report with the financial statements of the company for the year ended 31 August 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of public house owners.

DIVIDENDS
The board does not recommend the payment of a dividend for the year.

DIRECTORS
The directors during the year under review were:

I D Murray
D F P Broome
C L Dautzenberg
K L Mahoney
C V Norton
D A Woodmansey
N Livermore

The beneficial interests of the directors holding office on 31 August 2023 in the issued share capital of the company were as follows:
31.8.23 1.9.22
Ordinary £500 shares

I D Murray 4 4
D F P Broome 10 10
C L Dautzenberg - -
K L Mahoney - -
C V Norton 5 5
D A Woodmansey 2 2
N Livermore 1 1

ON BEHALF OF THE BOARD:





K L Mahoney - Director


13 October 2023

The Sorrel Horse Shottisham Limited

Report of the Accountants to the Directors of
The Sorrel Horse Shottisham Limited


In accordance with instructions given to us, we have prepared the annexed financial statements from the accounting records of the business and from information and explanations given to us.






Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL


13 October 2023

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Statement of Income and
Retained Earnings
for the Year Ended 31 August 2023

31.8.23 31.8.22
Notes £    £   

TURNOVER 30 -

Administrative expenses 3,285 6,064
(3,255 ) (6,064 )

Other operating income 12,423 5,167
OPERATING PROFIT/(LOSS) 9,168 (897 )

Interest receivable and similar income - 10
PROFIT/(LOSS) BEFORE TAXATION 9,168 (887 )

Tax on profit/(loss) 4 1,742 -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

7,426

(887

)

Retained earnings at beginning of year (36,698 ) (35,811 )

RETAINED EARNINGS AT END OF
YEAR

(29,272

)

(36,698

)

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Investment property 6 381,133 381,133
381,133 381,133

CURRENT ASSETS
Debtors 7 30,761 21,474
Cash at bank 29,488 21,576
60,249 43,050
CREDITORS
Amounts falling due within one year 8 20,654 10,881
NET CURRENT ASSETS 39,595 32,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,728

413,302

CAPITAL AND RESERVES
Called up share capital 9 450,000 450,000
Retained earnings (29,272 ) (36,698 )
SHAREHOLDERS' FUNDS 420,728 413,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





K L Mahoney - Director


The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

The Sorrel Horse Shottisham 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.

Turnover
The turnover represents net invoiced sales of services and the primary source of income is that of rents receivable, excluding value added tax.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.23 31.8.22
£    £   
Current tax:
UK corporation tax 1,742 -
Tax on profit/(loss) 1,742 -

5. INTANGIBLE FIXED ASSETS

Goodwill represents the nominal goodwill purchased as part of the contract of sale of the pub to the company. Goodwill has been fully amortised.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 381,133
NET BOOK VALUE
At 31 August 2023 381,133
At 31 August 2022 381,133

The directors consider that the value of the investment property has not materially changed.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 18,700 9,487
Prepayments and accrued income 12,061 11,987
30,761 21,474

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 6,292 529
Corporation Tax 1,742 -
VAT 3,553 1,368
Other creditors 7,280 7,280
Accruals and deferred income 1,787 1,704
20,654 10,881

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
900 Ordinary £500 450,000 450,000