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REGISTERED NUMBER: 12238327 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

THE TORS INN LIMITED

THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE TORS INN LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R M Harrison





REGISTERED OFFICE: The Tors Inn
Belstone
Okehampton
EX20 1QZ





REGISTERED NUMBER: 12238327 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 12,985 20,068
Tangible assets 6 43,519 52,605
56,504 72,673

CURRENT ASSETS
Stocks 11,440 10,400
Debtors 7 30,810 38,770
Cash at bank and in hand 14,576 4,059
56,826 53,229
CREDITORS
Amounts falling due within one year 8 (101,655 ) (80,392 )
NET CURRENT LIABILITIES (44,829 ) (27,163 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,675

45,510

CREDITORS
Amounts falling due after more than one
year

9

(34,200

)

(34,151

)

PROVISIONS FOR LIABILITIES (9,860 ) (9,229 )
NET (LIABILITIES)/ASSETS (32,385 ) 2,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (32,485 ) 2,030
(32,385 ) 2,130

THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Balance Sheet - continued
31 MARCH 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





R M Harrison - Director


THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

The Tors Inn 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.

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


The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The company is reliant on the support of its director. The director has a reasonable expectation that the company retains adequate resources to continue as a going concern for the foreseeable future and as such the financial statements have been drawn up on that basis.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers, net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade creditors, loans from banks and loans from related parties.


THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 42,500
AMORTISATION
At 1 April 2023 22,432
Amortisation for year 7,083
At 31 March 2024 29,515
NET BOOK VALUE
At 31 March 2024 12,985
At 31 March 2023 20,068

THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 12,832 82,004 366 95,202
Additions - 1,857 266 2,123
At 31 March 2024 12,832 83,861 632 97,325
DEPRECIATION
At 1 April 2023 1,514 41,025 58 42,597
Charge for year 642 10,430 137 11,209
At 31 March 2024 2,156 51,455 195 53,806
NET BOOK VALUE
At 31 March 2024 10,676 32,406 437 43,519
At 31 March 2023 11,318 40,979 308 52,605

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 30,810 38,770

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,837 5,665
Trade creditors 28,171 15,639
Taxation and social security 30,608 26,114
Other creditors 40,039 32,974
101,655 80,392

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 34,200 34,151

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,058 10,003

THE TORS INN LIMITED (REGISTERED NUMBER: 12238327)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 24,000 24,000
Between one and five years 12,000 36,000
36,000 60,000

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R M Harrison
Balance outstanding at start of year 36,020 -
Amounts advanced 25,057 39,482
Amounts repaid (36,000 ) (3,462 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,077 36,020

The loan is repayable on demand and has had interest charged at the official rate.

12. RELATED PARTY DISCLOSURES

Related company loans (under common ownership)
Included in creditors within one year is a loan with a related company £36,579 (2023 - £27,182). The loan is interest free and repayable on demand.