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REGISTERED NUMBER: 10007908 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Inn The Village Ltd

Inn The Village Ltd (Registered number: 10007908)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inn The Village Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms S J Burdge



REGISTERED OFFICE: c/o Baines & Co
46 Rolle Street
Exmouth
Devon
EX8 2SQ



REGISTERED NUMBER: 10007908 (England and Wales)



ACCOUNTANTS: Baines & Co
46 Rolle Street
Exmouth
Devon
EX8 2SQ



BANKERS: Barclays Bank plc
Newton Abbot
Leicester
Leicestershire
LE87 2BB

Inn The Village Ltd (Registered number: 10007908)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 690,995 517,288

CURRENT ASSETS
Stocks 5 20,000 -
Debtors 6 32,908 43,780
Cash at bank - 6,613
52,908 50,393
CREDITORS
Amounts falling due within one year 7 798,402 542,040
NET CURRENT LIABILITIES (745,494 ) (491,647 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,499

)

25,641

CREDITORS
Amounts falling due after more than one
year

8

9,894

14,833
NET (LIABILITIES)/ASSETS (64,393 ) 10,808

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (64,493 ) 10,708
SHAREHOLDERS' FUNDS (64,393 ) 10,808

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

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

The director acknowledges her 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.

Inn The Village Ltd (Registered number: 10007908)

Balance Sheet - continued
31 March 2023


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 16 November 2023 and were signed by:





Ms S J Burdge - Director


Inn The Village Ltd (Registered number: 10007908)

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

1. STATUTORY INFORMATION

Inn The Village Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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.

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.

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.

Inn The Village Ltd (Registered number: 10007908)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 562,268 - - 12,000 574,268
Additions - 156,541 39,427 - 195,968
At 31 March 2023 562,268 156,541 39,427 12,000 770,236
DEPRECIATION
At 1 April 2022 44,980 - - 12,000 56,980
Charge for year 11,245 3,131 7,885 - 22,261
At 31 March 2023 56,225 3,131 7,885 12,000 79,241
NET BOOK VALUE
At 31 March 2023 506,043 153,410 31,542 - 690,995
At 31 March 2022 517,288 - - - 517,288

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 20,000 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 25,280 43,780
VAT 7,628 -
32,908 43,780

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 316,676 305,520
Trade creditors 20,554 1,227
Tax 34 51
Social security and other taxes 53 2,011
VAT - 3,910
Other creditors 44,941 24,665
Directors' current accounts 413,149 202,186
Accrued expenses 2,995 2,470
798,402 542,040

Inn The Village Ltd (Registered number: 10007908)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bounce back loan 9,894 14,833

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bounce back loan 9,894 14,833

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdraft 11,276 -
Bank loans 315,294 320,353
326,570 320,353

The overdraft and mortgage are secured on the freehold property of the business.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2022 10,708
Deficit for the year (75,201 )
At 31 March 2023 (64,493 )

12. ULTIMATE CONTROLLING PARTY

The controlling party is Ms S J Burdge.

The ultimate controlling party is Ms S J Burdge.