0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,349 25,349 25,349 xbrli:pure xbrli:shares iso4217:GBP SC128363 2023-02-01 2024-01-31 SC128363 2024-01-31 SC128363 2023-01-31 SC128363 2022-02-01 2023-01-31 SC128363 2023-01-31 SC128363 2022-01-31 SC128363 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC128363 bus:Director2 2023-02-01 2024-01-31 SC128363 core:WithinOneYear 2024-01-31 SC128363 core:WithinOneYear 2023-01-31 SC128363 core:ShareCapital 2024-01-31 SC128363 core:ShareCapital 2023-01-31 SC128363 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC128363 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC128363 core:LandBuildings 2024-01-31 SC128363 core:LandBuildings 2023-01-31 SC128363 bus:SmallEntities 2023-02-01 2024-01-31 SC128363 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC128363 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC128363 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC128363 bus:FullAccounts 2023-02-01 2024-01-31 SC128363 bus:OrdinaryShareClass1 2024-01-31 SC128363 bus:OrdinaryShareClass1 2023-01-31 SC128363 core:AllJointVentures 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: SC128363
G & N Inns Limited
Filleted Unaudited Financial Statements
31 January 2024
G & N Inns Limited
Financial Statements
Year ended 31 January 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
G & N Inns Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
25,349
25,349
Creditors: amounts falling due within one year
5
26,688
26,399
--------
--------
Net current liabilities
26,688
26,399
--------
--------
Total assets less current liabilities
( 1,339)
( 1,050)
-------
-------
Net liabilities
( 1,339)
( 1,050)
-------
-------
Capital and reserves
Called up share capital
6
2
2
Profit and loss account
( 1,341)
( 1,052)
-------
-------
Shareholders deficit
( 1,339)
( 1,050)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 April 2024 , and are signed on behalf of the board by:
N. G. Whyte
Director
Company registration number: SC128363
G & N Inns Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 13 Princes Street, Monifieth, Angus, DD5 4AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a loss for the year before taxation of £289 (2023 - £289). The director considers that despite the balance sheet deficit of £1,339 (2023 - £1,050) the going concern basis is still applicable for the preparation of the financial statements as the ability of the company to continue to trade is dependant on the support of the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
4. Tangible assets
Land and buildings
£
Cost
At 1 February 2023 and 31 January 2024
25,349
--------
Depreciation
At 1 February 2023 and 31 January 2024
--------
Carrying amount
At 31 January 2024
25,349
--------
At 31 January 2023
25,349
--------
The company's investment property was revalued on 19 June 2001 by Graham & Sibbald, Chartered Surveyors, on the basis of open market value. In the opinion of the directors, the value has not altered materially since that date.
Tangible assets held at valuation
Included in the carry value above, are properties held at a value of £25,349.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
26,688
26,399
--------
--------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
7. Transactions with directors
The company was under the control of Mrs N.G. Whyte throughout the current and previous year. At the year end, as a result of loans and other advances made to the company by the director, net of any amounts refunded, the company was due to pay the director £26,496 (2023 - £26,207). The director has confirmed that she will continue to support the company and will only seek to have her debt reduced as and when the company has sufficient funds to make repayments by instalment.
8. Related party transactions
There were no transactions with related parties during the year.