REGISTERED NUMBER: |
THE NEW INN CROPTON LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
REGISTERED NUMBER: |
THE NEW INN CROPTON LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
THE NEW INN CROPTON LIMITED (REGISTERED NUMBER: 14299449) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE NEW INN CROPTON LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Railway Court |
Off Ten Pound Walk |
Doncaster |
South Yorkshire |
DN4 5FB |
BANKERS: |
Central Commercial Branch |
PO Box 250 |
Skelmerdale |
WN8 6WT |
THE NEW INN CROPTON LIMITED (REGISTERED NUMBER: 14299449) |
BALANCE SHEET |
31ST AUGUST 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE NEW INN CROPTON LIMITED (REGISTERED NUMBER: 14299449) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
1. | STATUTORY INFORMATION |
The New Inn Cropton Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Sale of goods - Turnover from the sale of goods is recognised at the point of sale. |
Rendering of services - Turnover from the provision of services is recognised on completion of the service and, for engagements spanning the balance sheet date, it is recognised by reference to the stage of completion at the balance sheet date. |
Tangible fixed assets |
Plant and machinery etc | - |
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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was |
THE NEW INN CROPTON LIMITED (REGISTERED NUMBER: 14299449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31st August 2023 |
DEPRECIATION |
Charge for period |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Reward Finance Group Limited | 996,328 |
The Reward Finance Group Limited loan is secured by means of a fixed and floating charge over the assets and undertaking of the company. |
THE NEW INN CROPTON LIMITED (REGISTERED NUMBER: 14299449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16TH AUGUST 2022 TO 31ST AUGUST 2023 |
9. | ADVANCES TO PARTICIPATORS |
The following advances and credits to a director subsisted during the period ended 31st August 2023: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
10. | RELATED PARTY DISCLOSURES |
During the accounting period the company has entered into trading transactions with Horsetown Beers Limited a company in which Philip Craig Lee, sole shareholder of The New Inn Cropton Limited, became sole shareholder in March 2023.These transactions were undertaken under normal commercial terms. Horsetown Beers Limited were also advanced loans by The New Inn Cropton Limited, and as at the 31st August 2023 owed The New Inn Cropton Limited £244,042; this loan in currently unsecured. |
During the accounting period the company has also undertaken trading transactions with The Great Yorkshire Pub Company Limited, a company also under sole control of Philip Craig Lee.These transactions have been undertaken under normal commercial terms.The company has also advanced a loan to The Great Yorkshire Pub Company Limited, which is currently interest free and unsecured, and at the balance sheet date this loan was in the amount of £720,243. This loan has been guaranteed by Philip Craig Lee. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Philip Craig Lee. |
The ultimate controlling party is Philip Craig Lee who beneficially holds 100% of the issued share capital of The New Inn Cropton Limited. |