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Registration number: 07563584

The White Horse (Compton Bassett) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The White Horse (Compton Bassett) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

The White Horse (Compton Bassett) Limited

Company Information

Directors

Mr J S Reis

Mr C Reis

Company secretary

Mr S J Kelly

Registered office

The White Horse Inn
Compton Bassett
Calne
Wiltshire
SN11 8RG

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The White Horse (Compton Bassett) Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The White Horse (Compton Bassett) Limited for the year ended 31 March 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of The White Horse (Compton Bassett) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The White Horse (Compton Bassett) Limited and state those matters that we have agreed to state to the Board of Directors of The White Horse (Compton Bassett) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The White Horse (Compton Bassett) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The White Horse (Compton Bassett) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The White Horse (Compton Bassett) Limited. You consider that The White Horse (Compton Bassett) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The White Horse (Compton Bassett) Limited. 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 accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

7 June 2024

 

The White Horse (Compton Bassett) Limited

(Registration number: 07563584)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96,421

103,370

Current assets

 

Stocks

5

4,781

4,664

Debtors

6

5,591

840

Cash at bank and in hand

 

(1)

1,482

 

10,371

6,986

Creditors: Amounts falling due within one year

7

(96,749)

(84,835)

Net current liabilities

 

(86,378)

(77,849)

Total assets less current liabilities

 

10,043

25,521

Creditors: Amounts falling due after more than one year

7

(587,282)

(549,548)

Net liabilities

 

(577,239)

(524,027)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(577,240)

(524,028)

Shareholders' deficit

 

(577,239)

(524,027)

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

Directors' 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 directors acknowledge their 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.

 

The White Horse (Compton Bassett) Limited

(Registration number: 07563584)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 7 June 2024 and signed on its behalf by:
 

.........................................
Mr J S Reis
Director

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
The White Horse Inn
Compton Bassett
Calne
Wiltshire
SN11 8RG

These financial statements were authorised for issue by the Board on 7 June 2024.

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 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 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.

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.

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Fixtures and Fittings

15% Reducing Balance

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.

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 16).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

47,736

156,394

204,130

Additions

-

2,915

2,915

Disposals

-

(2,248)

(2,248)

At 31 March 2024

47,736

157,061

204,797

Depreciation

At 1 April 2023

-

100,760

100,760

Charge for the year

-

9,398

9,398

Eliminated on disposal

-

(1,782)

(1,782)

At 31 March 2024

-

108,376

108,376

Carrying amount

At 31 March 2024

47,736

48,685

96,421

At 31 March 2023

47,736

55,634

103,370

Included within the net book value of land and buildings above is £47,736 (2023 - £47,736) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

4,781

4,664

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,591

840

 

5,591

840

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

24,463

9,964

Trade creditors

 

39,956

39,084

Taxation and social security

 

27,746

23,086

Accruals and deferred income

 

2,834

11,026

Other creditors

 

1,750

1,675

 

96,749

84,835

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

12,025

21,738

Other non-current financial liabilities

 

575,257

527,810

 

587,282

549,548

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,025

21,738

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,839

9,964

Bank overdrafts

14,624

-

24,463

9,964

 

The White Horse (Compton Bassett) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Loan

527,810

(23,026)

70,472

575,256

Loan

-

(2,146)

2,146

-

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Loan

466,671

(5,661)

66,800

527,810

Loan

48

(48)

-

-