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REGISTERED NUMBER: 12036142 (England and Wales)















HORTUS INNS LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2023






HORTUS INNS LIMITED (REGISTERED NUMBER: 12036142)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HORTUS INNS LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: M T Horton
Mrs P J Horton
P Davis
G J Cleaver





REGISTERED OFFICE: The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW





REGISTERED NUMBER: 12036142 (England and Wales)






HORTUS INNS LIMITED (REGISTERED NUMBER: 12036142)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,669,369 5,692,002

CURRENT ASSETS
Stocks 63,582 31,198
Debtors 5 452,226 131,231
Cash at bank 565,702 790,569
1,081,510 952,998
CREDITORS
Amounts falling due within one year 6 4,949,968 1,573,687
NET CURRENT LIABILITIES (3,868,458 ) (620,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,800,911

5,071,313

PROVISIONS FOR LIABILITIES 33,402 54,249
NET ASSETS 5,767,509 5,017,064

CAPITAL AND RESERVES
Called up share capital 5,553,188 4,825,000
Retained earnings 214,321 192,064
SHAREHOLDERS' FUNDS 5,767,509 5,017,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

HORTUS INNS LIMITED (REGISTERED NUMBER: 12036142)

Balance Sheet - continued
31 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2024 and were signed on its behalf by:




M T Horton - Director



Mrs P J Horton - Director


HORTUS INNS LIMITED (REGISTERED NUMBER: 12036142)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Hortus 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 at the balance sheet date the company is showing net current liabilities.

The company has loans from both a related entity and Directors. Both the related entity and the Directors have given assurances that they will not request repayment of these loans in the next twelve months.

Accordingly, the Directors consider the going concern basis of preparation to be appropriate.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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 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.

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.

HORTUS INNS LIMITED (REGISTERED NUMBER: 12036142)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 83 (2022 - 47 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 5,366,577 681,591 6,048,168
Additions 3,891,830 389,367 4,281,197
Disposals - (138,490 ) (138,490 )
At 31 December 2023 9,258,407 932,468 10,190,875
DEPRECIATION
At 1 January 2023 97,328 258,838 356,166
Charge for year 40,381 130,455 170,836
Eliminated on disposal - (5,496 ) (5,496 )
At 31 December 2023 137,709 383,797 521,506
NET BOOK VALUE
At 31 December 2023 9,120,698 548,671 9,669,369
At 31 December 2022 5,269,249 422,753 5,692,002

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 193,610 4,693
Other debtors 258,616 126,538
452,226 131,231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 279,166 144,217
Taxation and social security 214,298 173,980
Other creditors 4,456,504 1,255,490
4,949,968 1,573,687

Included in creditors due within one year are loans owed to a connected company. These loans are all subject to formal loan agreements with commercial rates of interest charged. the loans are repayable on demand at the request of the lender and are therefore classified as current liabilities.

7. OTHER FINANCIAL COMMITMENTS

The company has total commitments under leases for land and buildings of £1,026,350.