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Registration number: 12902760

The Three Horseshoes (Fordham) Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

The Three Horseshoes (Fordham) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

The Three Horseshoes (Fordham) Ltd

Company Information

Directors

Ms Moira Josephine Edwards

Mr Samuel Edwards

Registered office

74 Church Road
Fordham
Colchester
CO6 3NJ

Accountants

Manningtons
Chartered Accountants
39 High Street
Battle
East Sussex
TN33 0EE

 

The Three Horseshoes (Fordham) Ltd

(Registration number: 12902760)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

69,271

70,935

Current assets

 

Stocks

5

22,592

18,813

Debtors

6

7,413

6,042

Cash at bank and in hand

 

89,408

61,843

 

119,413

86,698

Creditors: Amounts falling due within one year

7

(159,812)

(102,151)

Net current liabilities

 

(40,399)

(15,453)

Total assets less current liabilities

 

28,872

55,482

Provisions for liabilities

(2,536)

(9,416)

Net assets

 

26,336

46,066

Capital and reserves

 

Called up share capital

1

1

Retained earnings

26,335

46,065

Shareholders' funds

 

26,336

46,066

For the financial year ending 30 November 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

.........................................
Ms Moira Josephine Edwards
Director

   
     
 

The Three Horseshoes (Fordham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of food and drink 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.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

The Three Horseshoes (Fordham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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, fittings and equipment

25% Reducing Balance

Computer equipment

3 Years Straight Line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 Three Horseshoes (Fordham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Financial instruments

Classification
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.
 Recognition and measurement
Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market or fair value. Equity instruments which are treated as financial assets and accounting for at cost are also assessed for impairment.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2022 - 17).

 

The Three Horseshoes (Fordham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

106,022

106,022

Additions

37,474

37,474

Disposals

(20,964)

(20,964)

At 30 November 2023

122,532

122,532

Depreciation

At 1 December 2022

35,086

35,086

Charge for the year

23,416

23,416

Eliminated on disposal

(5,241)

(5,241)

At 30 November 2023

53,261

53,261

Carrying amount

At 30 November 2023

69,271

69,271

At 30 November 2022

70,935

70,935

5

Stocks

2023
£

2022
£

Other inventories

22,592

18,813

 

The Three Horseshoes (Fordham) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

171

1,871

Amount owed by associated company

8

4,782

4,170

Prepayments

 

2,460

-

Other debtors

 

-

1

 

7,413

6,042

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

39,708

25,142

Taxation and social security

30,027

25,585

Accruals and deferred income

2,914

1,600

Other creditors

32,856

16,036

Director's loan account

54,307

33,788

159,812

102,151

8

Related party transactions

The Three Horseshoes (Fordham) Ltd and Petit Two Ltd are associated companies. The property in which the company operates is leased to The Three Horseshoes (Fordham) Ltd by Petit Two Ltd.

Summary of transactions with associates

At the balance sheet date the amount due from Petit Two Ltd to The Three Horseshoes (Fordham) Ltd was £4,782 (2022 - £4,170).