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REGISTERED NUMBER: 05188439 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2023

for

NORDIC INNS LIMITED

NORDIC INNS LIMITED (Registered number: 05188439)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORDIC INNS LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTOR: D L R Hiscox





REGISTERED OFFICE: Top Floor Offices
Hatton Court
Upton St Leonards
Gloucestershire
GL48DE





REGISTERED NUMBER: 05188439 (England and Wales)





ACCOUNTANTS: John S Ward & Co Limited
Chartered Certified Accountants
26-28 Headlands
Kettering
Northamptonshire
NN15 7HP

NORDIC INNS LIMITED (Registered number: 05188439)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,388,207 1,333,419
1,388,207 1,333,419

CURRENT ASSETS
Stocks 22,408 19,169
Debtors 6 167,744 24,723
Cash at bank 21,251 38,562
211,403 82,454
CREDITORS
Amounts falling due within one year 7 356,960 303,347
NET CURRENT LIABILITIES (145,557 ) (220,893 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,242,650

1,112,526

CREDITORS
Amounts falling due after more than
one year

8

960,965

970,897
NET ASSETS 281,685 141,629

NORDIC INNS LIMITED (Registered number: 05188439)

Balance Sheet - continued
31 January 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100,100 100,100
Retained earnings 181,585 41,529
281,685 141,629

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 October 2023 and were signed by:





D L R Hiscox - Director


NORDIC INNS LIMITED (Registered number: 05188439)

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

1. STATUTORY INFORMATION

NORDIC 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.

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.

Goodwill
Goodwill has been amortised evenly over the estimated useful life

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Fixtures, plant and Machinery 3- 12 years

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 balance sheet date.


NORDIC INNS LIMITED (Registered number: 05188439)

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

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.

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 24 (2022 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 5,000
AMORTISATION
At 1 February 2022
and 31 January 2023 5,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

NORDIC INNS LIMITED (Registered number: 05188439)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 1,221,445 560,443 1,781,888
Additions 48,177 41,323 89,500
At 31 January 2023 1,269,622 601,766 1,871,388
DEPRECIATION
At 1 February 2022 - 448,469 448,469
Charge for year - 34,712 34,712
At 31 January 2023 - 483,181 483,181
NET BOOK VALUE
At 31 January 2023 1,269,622 118,585 1,388,207
At 31 January 2022 1,221,445 111,974 1,333,419

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,493 12,763
Other debtors 156,251 11,960
167,744 24,723

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,643 5,258
Trade creditors 92,460 96,491
Taxation and social security 63,237 49,738
Other creditors 188,620 151,860
356,960 303,347

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 960,965 970,897

NORDIC INNS LIMITED (Registered number: 05188439)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 910,393 801,553

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 973,608 976,155

Bank Loans are secured by Fixed and Floating Charge over the assets of the Company

10. RELATED PARTY DISCLOSURES

At 31st January 2023 the company owed £135,627 (2022 £52,509) to a related Company

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs VEA Hiscox.

On 1st February 2022 the Cornerhouse Hotel trade was transferred back to Cornerhouse Hotel Ltd. Comparatives have not been restated.


The company is a 100% Subsidiary of Linkburn Ltd