Company Registration No. 03712569 (England and Wales)
ROOM AT THE INN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
ROOM AT THE INN LIMITED
COMPANY INFORMATION
Directors
Mr M A Wall
Mrs J E Wall
Secretary
Mrs J E Wall
Company number
03712569
Registered office
10 Efford Down House
Bude
Cornwall
EX23 8SE
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Monzo Bank Limited
Broadwalk House
5 Appold Street
London
EC2A 2AG
ROOM AT THE INN LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
ROOM AT THE INN LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROOM AT THE INN LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Room At The Inn Limited for the year ended 28 February 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Room At The Inn Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Room At The Inn Limited and state those matters that we have agreed to state to the Board of Directors of Room At The Inn Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Room At The Inn Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Room At The Inn Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Room At The Inn Limited. You consider that Room At The Inn Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Room At The Inn Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
10 May 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ROOM AT THE INN LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,911
8,146
Current assets
Debtors
4
-
0
9,038
Cash at bank and in hand
13,861
17,289
13,861
26,327
Creditors: amounts falling due within one year
5
(9,769)
(22,130)
Net current assets
4,092
4,197
Total assets less current liabilities
11,003
12,343
Provisions for liabilities
6
(1,313)
(1,548)
Net assets
9,690
10,795
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
9,590
10,695
Total equity
9,690
10,795

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ROOM AT THE INN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023
28 February 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 10 May 2023 and are signed on its behalf by:
Mr M A Wall
Mrs J E Wall
Director
Director
Company Registration No. 03712569
ROOM AT THE INN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information

Room At The Inn Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Efford Down House, Bude, Cornwall, EX23 8SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance
Computer equipment
25% on reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ROOM AT THE INN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
44,943
6,087
51,030
Depreciation and impairment
At 1 March 2022
36,924
5,960
42,884
Depreciation charged in the year
1,204
31
1,235
At 28 February 2023
38,128
5,991
44,119
Carrying amount
At 28 February 2023
6,815
96
6,911
At 28 February 2022
8,019
127
8,146
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
9,038
ROOM AT THE INN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
71
-
0
Taxation and social security
1,383
2,233
Other creditors
8,315
19,897
9,769
22,130
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,313
1,548
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
45 Ordinary of £1 each
45
45
45 Ordinary Deferred of £1 each
45
45
10 Ordinary Preferred of £1 each
10
10
100
100
8
Ultimate controlling party

The ultimate controlling party is Mr M A Wall and Mrs J E Wall.

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