Company registration number 11143968 (England and Wales)
THE HIGHWAYMAN INN (SOURTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
THE HIGHWAYMAN INN (SOURTON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE HIGHWAYMAN INN (SOURTON) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,326
5,451
Current assets
Stocks
7,425
9,962
Debtors
4
12,056
12,723
Cash at bank and in hand
13,028
4,135
32,509
26,820
Creditors: amounts falling due within one year
5
(12,942)
(10,980)
Net current assets
19,567
15,840
Total assets less current liabilities
24,893
21,291
Provisions for liabilities
(1,012)
(1,036)
Net assets
23,881
20,255
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
23,781
20,155
Total equity
23,881
20,255

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Mrs S Thomson
Mr B D Thomson
Director
Director
Company registration number 11143968 (England and Wales)
THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

The Highwayman Inn (Sourton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% per annum on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
9,416
Additions
1,082
At 31 January 2024
10,498
Depreciation and impairment
At 1 February 2023
3,965
Depreciation charged in the year
1,207
At 31 January 2024
5,172
Carrying amount
At 31 January 2024
5,326
At 31 January 2023
5,451
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,056
12,723
THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,132
1,040
Taxation and social security
3,518
595
Other creditors
8,292
9,345
12,942
10,980
6
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
2 Directors
2.25
11,088
22,215
143
(21,644)
11,802
11,088
22,215
143
(21,644)
11,802

The loan to the directors was unsecured and repayable on demand.

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