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REGISTERED NUMBER: 05616344 (England and Wales)















Unaudited Financial Statements

for the Period 1 December 2021 to 31 May 2023

for

L&K INN LTD

L&K INN LTD (REGISTERED NUMBER: 05616344)






Contents of the Financial Statements
for the period 1 December 2021 to 31 May 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


L&K INN LTD

Company Information
for the period 1 December 2021 to 31 May 2023







DIRECTORS: L J Phillpott
K Phillpott





SECRETARY: L J Phillpott





REGISTERED OFFICE: 11 Laura Place
Bath
Somerset
BA2 4BL





REGISTERED NUMBER: 05616344 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
L&K Inn Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L&K Inn Ltd for the period ended 31 May 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of L&K Inn Ltd, 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 L&K Inn Ltd and state those matters that we have agreed to state to the Board of Directors of L&K Inn Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L&K Inn Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that L&K Inn Ltd 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 loss of L&K Inn Ltd. You consider that L&K Inn Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of L&K Inn Ltd. 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


22 February 2024

L&K INN LTD (REGISTERED NUMBER: 05616344)

Balance Sheet
31 May 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 300,452
Investment property 6 70,000 70,000
70,000 370,452

CURRENT ASSETS
Stocks 180,000 975
Debtors 7 - 150
Cash at bank and in hand 200 1,761
180,200 2,886
CREDITORS
Amounts falling due within one year 8 157,574 118,028
NET CURRENT ASSETS/(LIABILITIES) 22,626 (115,142 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,626

255,310

CREDITORS
Amounts falling due after more than one
year

9

-

(46,660

)

PROVISIONS FOR LIABILITIES 10 - (118 )
NET ASSETS 92,626 208,532

CAPITAL AND RESERVES
Called up share capital 11 253,001 253,001
Retained earnings (160,375 ) (44,469 )
SHAREHOLDERS' FUNDS 92,626 208,532

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

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

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.

L&K INN LTD (REGISTERED NUMBER: 05616344)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





L J Phillpott - Director


L&K INN LTD (REGISTERED NUMBER: 05616344)

Notes to the Financial Statements
for the period 1 December 2021 to 31 May 2023

1. STATUTORY INFORMATION

L&K Inn 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, was amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 15% on cost

Government grants
Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Included within stock are the costs incurred in the purchase and development of a property.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


L&K INN LTD (REGISTERED NUMBER: 05616344)

Notes to the Financial Statements - continued
for the period 1 December 2021 to 31 May 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 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.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

Leasing commitments
Rentals paid under operating leases are charged to the 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 2 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2021 1,000
Disposals (1,000 )
At 31 May 2023 -
AMORTISATION
At 1 December 2021 1,000
Eliminated on disposal (1,000 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 30 November 2021 -

L&K INN LTD (REGISTERED NUMBER: 05616344)

Notes to the Financial Statements - continued
for the period 1 December 2021 to 31 May 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 December 2021 378,072 14,883 392,955
Disposals (378,072 ) (14,883 ) (392,955 )
At 31 May 2023 - - -
DEPRECIATION
At 1 December 2021 78,237 14,266 92,503
Eliminated on disposal (78,237 ) (14,266 ) (92,503 )
At 31 May 2023 - - -
NET BOOK VALUE
At 31 May 2023 - - -
At 30 November 2021 299,835 617 300,452

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2021
and 31 May 2023 70,000
NET BOOK VALUE
At 31 May 2023 70,000
At 30 November 2021 70,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Other debtors - 150

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 566 5,213
Other creditors 157,008 112,815
157,574 118,028

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2021
£    £   
Bank loans - 46,660

L&K INN LTD (REGISTERED NUMBER: 05616344)

Notes to the Financial Statements - continued
for the period 1 December 2021 to 31 May 2023

10. PROVISIONS FOR LIABILITIES
2023 2021
£    £   
Deferred tax - 118

Deferred
tax
£   
Balance at 1 December 2021 118
Accelerated capital allowances (118 )
Balance at 31 May 2023 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
253,001 Ordinary £1 253,001 253,001

12. CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.