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REGISTERED NUMBER: 05271298 (England and Wales)
















Financial Statements for the Year Ended 31 January 2024

for

Orchid Inns Limited

Orchid Inns Limited (Registered number: 05271298)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Orchid Inns Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P W Mepham
Mrs S Mepham





REGISTERED OFFICE: Devonshire Arms
Long Sutton
Langport
Somerset
TA10 9LP





REGISTERED NUMBER: 05271298 (England and Wales)





ACCOUNTANTS: Plunkett Yates Limited
1 Charlotte Mews
Pavilion Place
Exeter
Devon
EX2 4HA

Orchid Inns Limited (Registered number: 05271298)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,807 50,206
Investment property 6 240,000 235,000
288,807 285,206

CURRENT ASSETS
Stocks 8,950 7,502
Debtors 7 3,608 3,398
Cash at bank and in hand 181,949 214,236
194,507 225,136
CREDITORS
Amounts falling due within one year 8 101,201 100,962
NET CURRENT ASSETS 93,306 124,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,113

409,380

CREDITORS
Amounts falling due after more than one year 9 (64,805 ) (80,195 )

PROVISIONS FOR LIABILITIES (19,534 ) (14,105 )
NET ASSETS 297,774 315,080

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 296,774 314,080
SHAREHOLDERS' FUNDS 297,774 315,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Orchid Inns Limited (Registered number: 05271298)

Balance Sheet - continued
31 January 2024


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 27 August 2024 and were signed on its behalf by:




P W Mepham - Director



Mrs S Mepham - Director


Orchid Inns Limited (Registered number: 05271298)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Orchid Inns Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Fixtures, fittings and equipment - 25% on reducing balance

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.

Taxation
Taxation for the year 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 year 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.

Orchid Inns Limited (Registered number: 05271298)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 115,000
AMORTISATION
At 1 February 2023
and 31 January 2024 115,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Short and
leasehold equipment Totals
£    £    £   
COST
At 1 February 2023 12,128 231,103 243,231
Additions - 14,870 14,870
At 31 January 2024 12,128 245,973 258,101
DEPRECIATION
At 1 February 2023 12,128 180,897 193,025
Charge for year - 16,269 16,269
At 31 January 2024 12,128 197,166 209,294
NET BOOK VALUE
At 31 January 2024 - 48,807 48,807
At 31 January 2023 - 50,206 50,206

Orchid Inns Limited (Registered number: 05271298)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 235,000
Revaluations 5,000
At 31 January 2024 240,000
NET BOOK VALUE
At 31 January 2024 240,000
At 31 January 2023 235,000

The investment property was valued as at 31 January 2024, on an open market basis by the directors of the company. The historical cost of the property was £209,317.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 3,608 3,398

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,141 9,891
Trade creditors 21,494 19,767
Taxation and social security 66,519 69,675
Other creditors 3,047 1,629
101,201 100,962

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,809 24,949
Other creditors 49,996 55,246
64,805 80,195

Amounts falling due in more than five years:

Repayable by instalments
Building society mortgage 49,996 55,246

Orchid Inns Limited (Registered number: 05271298)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Other loans 49,996 55,246

The building society mortgage is secured on the freehold property.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid a rent charge to the directors of £24,000 (2023: £24,000).

12. ULTIMATE CONTROLLING PARTY

The directors together were the ultimate controlling parties.