Inn Control Hospitality Accountants Limited 13418722 false 2023-04-01 2023-12-31 2023-12-31 The principal activity of the company is that of hospitality accountants. Digita Accounts Production Advanced 6.30.9574.0 true 13418722 2023-04-01 2023-12-31 13418722 2023-12-31 13418722 core:CurrentFinancialInstruments 2023-12-31 13418722 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13418722 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13418722 core:FurnitureFittingsToolsEquipment 2023-12-31 13418722 bus:SmallEntities 2023-04-01 2023-12-31 13418722 bus:AuditExemptWithAccountantsReport 2023-04-01 2023-12-31 13418722 bus:AbridgedAccounts 2023-04-01 2023-12-31 13418722 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 13418722 bus:RegisteredOffice 2023-04-01 2023-12-31 13418722 bus:Director1 2023-04-01 2023-12-31 13418722 bus:Director2 2023-04-01 2023-12-31 13418722 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 13418722 core:Goodwill 2023-04-01 2023-12-31 13418722 core:FurnitureFittings 2023-04-01 2023-12-31 13418722 core:FurnitureFittingsToolsEquipment 2023-04-01 2023-12-31 13418722 countries:EnglandWales 2023-04-01 2023-12-31 13418722 2022-04-01 2023-03-31 13418722 2023-03-31 13418722 core:CurrentFinancialInstruments 2023-03-31 13418722 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13418722 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13418722

Inn Control Hospitality Accountants Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 April 2023 to 31 December 2023

 

Inn Control Hospitality Accountants Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Inn Control Hospitality Accountants Limited

Company Information

Directors

Mr JD Foster

Mr IP Wake

Registered office

10 Cheyne Walk
Northamptonshire
England
NN1 5PT

Accountants

10 CANN Limited
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

 

Inn Control Hospitality Accountants Limited

(Registration number: 13418722)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2023
£

Fixed assets

 

Intangible assets

5

218,622

237,361

Tangible assets

6

3,223

-

 

221,845

237,361

Current assets

 

Debtors

83,195

70,343

Cash at bank and in hand

 

80,122

92,050

 

163,317

162,393

Creditors: Amounts falling due within one year

(63,574)

(32,783)

Net current assets

 

99,743

129,610

Total assets less current liabilities

 

321,588

366,971

Creditors: Amounts falling due after more than one year

(50,881)

(141,881)

Accruals and deferred income

 

(10,162)

(10,162)

Net assets

 

260,545

214,928

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

259,545

213,928

Shareholders' funds

 

260,545

214,928

 

Inn Control Hospitality Accountants Limited

(Registration number: 13418722)
Abridged Balance Sheet as at 31 December 2023

For the financial period ending 31 December 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 period 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 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
Mr JD Foster
Director

.........................................
Mr IP Wake
Director

 

Inn Control Hospitality Accountants Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 31 December 2023

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:
10 Cheyne Walk
Northamptonshire
England
NN1 5PT
England

These financial statements were authorised for issue by the Board on 5 September 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 abridged 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 abridged 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.

 

Inn Control Hospitality Accountants Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 31 December 2023

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

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.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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% straight line

 

Inn Control Hospitality Accountants Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 31 December 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years

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.

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.

 

Inn Control Hospitality Accountants Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 31 December 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2023
£

Depreciation expense

27

-

Amortisation expense

18,739

12,493

 

Inn Control Hospitality Accountants Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 31 December 2023

5

Intangible assets

Total
£

Cost or valuation

Additions acquired separately

249,854

At 31 December 2023

249,854

Amortisation

Amortisation charge

31,232

At 31 December 2023

31,232

Carrying amount

At 31 December 2023

218,622

At 31 March 2023

237,361

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

3,250

3,250

At 31 December 2023

3,250

3,250

Depreciation

Charge for the period

27

27

At 31 December 2023

27

27

Carrying amount

At 31 December 2023

3,223

3,223