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Registration number: 11973684

Shere Hospitality Ltd

trading as The William Bray

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

Shere Hospitality Ltd

trading as The William Bray

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Shere Hospitality Ltd

trading as The William Bray

Company Information

Director

Mr AJ Hunter

Registered office

10 Cheyne Walk
Northamptonshire
England
NN1 5PT

Accountants

Inn Control Hospitality Accountants Limited
10 Cheyne Walk
Northamptonshire
England
NN1 5PT

 

Shere Hospitality Ltd

trading as The William Bray

(Registration number: 11973684)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

50,426

54,064

Current assets

 

Stocks

5

19,204

17,903

Debtors

20,014

20,874

Cash at bank and in hand

 

77,035

173,418

 

116,253

212,195

Prepayments and accrued income

 

2,686

-

Creditors: Amounts falling due within one year

(127,317)

(160,808)

Net current (liabilities)/assets

 

(8,378)

51,387

Total assets less current liabilities

 

42,048

105,451

Accruals and deferred income

 

(11,476)

-

Net assets

 

30,572

105,451

Capital and reserves

 

Called up share capital

100

100

Retained earnings

30,472

105,351

Shareholders' funds

 

30,572

105,451

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.

 

Shere Hospitality Ltd

trading as The William Bray

(Registration number: 11973684)
Abridged Balance Sheet as at 31 May 2023

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 21 November 2023
 

.........................................
Mr AJ Hunter
Director

 

Shere Hospitality Ltd

trading as The William Bray

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Cheyne Walk
Northamptonshire
England
NN1 5PT
England

These financial statements were authorised for issue by the director on 21 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Shere Hospitality Ltd

trading as The William Bray

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Bar Equipment

15% on cost

 

Shere Hospitality Ltd

trading as The William Bray

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Refurbishment

15% on cost

Furniture and Fixtures

15% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Shere Hospitality Ltd

trading as The William Bray

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 23 (2022 - 16).

 

Shere Hospitality Ltd

trading as The William Bray

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2022

74,611

12,131

2,004

88,746

Additions

-

6,302

4,721

11,023

At 31 May 2023

74,611

18,433

6,725

99,769

Depreciation

At 1 June 2022

30,461

3,442

779

34,682

Charge for the year

11,191

2,586

884

14,661

At 31 May 2023

41,652

6,028

1,663

49,343

Carrying amount

At 31 May 2023

32,959

12,405

5,062

50,426

At 31 May 2022

44,150

8,689

1,225

54,064

Included within the net book value of land and buildings above is £32,959 (2022 - £44,150) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

19,204

17,903