Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr R C Skinner 15/11/2012 Mr G T E Sloan 15/11/2012 Me G T E Sloan 09 November 2023 The principal activity of the company is the operation of a public house. 08295334 2023-03-31 08295334 bus:Director1 2023-03-31 08295334 bus:Director2 2023-03-31 08295334 2022-03-31 08295334 core:CurrentFinancialInstruments 2023-03-31 08295334 core:CurrentFinancialInstruments 2022-03-31 08295334 core:Non-currentFinancialInstruments 2023-03-31 08295334 core:Non-currentFinancialInstruments 2022-03-31 08295334 core:ShareCapital 2023-03-31 08295334 core:ShareCapital 2022-03-31 08295334 core:RetainedEarningsAccumulatedLosses 2023-03-31 08295334 core:RetainedEarningsAccumulatedLosses 2022-03-31 08295334 core:LeaseholdImprovements 2022-03-31 08295334 core:FurnitureFittings 2022-03-31 08295334 core:OtherPropertyPlantEquipment 2022-03-31 08295334 core:LeaseholdImprovements 2023-03-31 08295334 core:FurnitureFittings 2023-03-31 08295334 core:OtherPropertyPlantEquipment 2023-03-31 08295334 bus:OrdinaryShareClass1 2023-03-31 08295334 2022-04-01 2023-03-31 08295334 bus:FullAccounts 2022-04-01 2023-03-31 08295334 bus:SmallEntities 2022-04-01 2023-03-31 08295334 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08295334 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08295334 bus:Director1 2022-04-01 2023-03-31 08295334 bus:Director2 2022-04-01 2023-03-31 08295334 bus:Director3 2022-04-01 2023-03-31 08295334 core:FurnitureFittings 2022-04-01 2023-03-31 08295334 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 08295334 2021-04-01 2022-03-31 08295334 core:LeaseholdImprovements 2022-04-01 2023-03-31 08295334 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 08295334 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08295334 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08295334 (England and Wales)

THE HOLE IN THE WALL LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

THE HOLE IN THE WALL LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

THE HOLE IN THE WALL LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
THE HOLE IN THE WALL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr R C Skinner
Mr G T E Sloan
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 08295334 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
THE HOLE IN THE WALL LIMITED

BALANCE SHEET

As at 31 March 2023
THE HOLE IN THE WALL LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 97,616 101,509
97,616 101,509
Current assets
Stocks 12,435 6,953
Debtors 4 25,497 22,205
Cash at bank and in hand 15,729 85,648
53,661 114,806
Creditors: amounts falling due within one year 5 ( 204,817) ( 197,412)
Net current liabilities (151,156) (82,606)
Total assets less current liabilities (53,540) 18,903
Creditors: amounts falling due after more than one year 6 0 ( 12,500)
Net (liabilities)/assets ( 53,540) 6,403
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 53,542 ) 6,401
Total shareholder's (deficit)/funds ( 53,540) 6,403

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Hole In The Wall Limited (registered number: 08295334) were approved and authorised for issue by the Board of Directors on 09 November 2023. They were signed on its behalf by:

Mr R C Skinner
Director
THE HOLE IN THE WALL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
THE HOLE IN THE WALL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Hole In The Wall Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:
Little Castle Street
Exeter
EX4 3PX

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

At the balance sheet date the company's balance sheet is showing a deficit of funds totalling £53,540 deficit (2022: £nil) on reserves . At the year-end £88,010 (2022: £61,032) was owed to fellow group companies. Although no formal guarantees or arrangements are in place, the directors of those companies have indicated this support will not be withdrawn within 12 months of the date of the approval of these financial statements. On that basis, the directors are satisfied that the financial statements should be prepared on the going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover represents takings received during the period.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Fixtures and fittings 15 % reducing balance
Other property, plant and equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Government grants

Government grants are recognised as other income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

During the year, the company received government grants totalling £nil (2022 - £13,620).

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 18

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 April 2022 9,106 56,666 193,664 259,436
Additions 0 425 13,868 14,293
Disposals 0 0 ( 5,170) ( 5,170)
At 31 March 2023 9,106 57,091 202,362 268,559
Accumulated depreciation
At 01 April 2022 3,436 28,440 126,051 157,927
Charge for the financial year 365 4,299 11,742 16,406
Disposals 0 0 ( 3,390) ( 3,390)
At 31 March 2023 3,801 32,739 134,403 170,943
Net book value
At 31 March 2023 5,305 24,352 67,959 97,616
At 31 March 2022 5,670 28,226 67,613 101,509

4. Debtors

2023 2022
£ £
Trade debtors 0 427
Prepayments 15,497 11,778
Other debtors 10,000 10,000
25,497 22,205

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 11,640
Trade creditors 29,611 39,172
Amounts owed to Group undertakings 73,736 61,032
Other loans 13,125 13,127
Accruals 74,197 48,236
Other taxation and social security 8,145 23,685
Other creditors 6,003 520
204,817 197,412

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 0 12,500

Included in the total bank borrowings at the year end is £nil (2022 - £24,140) on which the following security has been provided;

Directors' personal guarantee to a maximum of £100,000.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Commitments

The total amount of financial commitments relating to long term leasehold property not included in the balance sheet is £648,440 (2022: £693,160).

9. Ultimate controlling party

Parent Company:

The ultimate parent is Skinner Sloan Limited, incorporated in England and Wales.
The ultimate controlling parties are Mr R C Skinner and Mr G T E Sloan, by virtue of their shareholding in Skinner Sloan Limited.