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Registered number: 02754422
Tremorna Inns Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02754422
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,125 23,625
Tangible Assets 5 3,798,108 3,561,592
Investments 6 146,191 146,191
3,954,424 3,731,408
CURRENT ASSETS
Stocks 7 26,611 24,770
Debtors 8 306,506 152,647
Cash at bank and in hand 823,307 1,036,165
1,156,424 1,213,582
Creditors: Amounts Falling Due Within One Year 9 (577,836 ) (456,619 )
NET CURRENT ASSETS (LIABILITIES) 578,588 756,963
TOTAL ASSETS LESS CURRENT LIABILITIES 4,533,012 4,488,371
Creditors: Amounts Falling Due After More Than One Year 10 - (269,841 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (41,435 ) (28,800 )
NET ASSETS 4,491,577 4,189,730
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 4,491,575 4,189,728
SHAREHOLDERS' FUNDS 4,491,577 4,189,730
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Wayne Thilwind
Director
19/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tremorna Inns Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02754422 . The registered office is 719 Eddington Way, Birchwood, Warrington, Cheshire, WA3 6BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Leasehold Straight line over lease term
Plant & Machinery 15-25% straight line
Motor Vehicles 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 39)
42 39
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 270,000
As at 31 March 2024 270,000
Amortisation
As at 1 April 2023 246,375
Provided during the period 13,500
As at 31 March 2024 259,875
Net Book Value
As at 31 March 2024 10,125
As at 1 April 2023 23,625
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Total
£ £ £ £
Cost
As at 1 April 2023 3,681,492 108,400 173,473 3,963,365
Additions - 248,798 8,017 256,815
As at 31 March 2024 3,681,492 357,198 181,490 4,220,180
Depreciation
As at 1 April 2023 250,022 30,606 121,145 401,773
Provided during the period - 3,300 16,999 20,299
As at 31 March 2024 250,022 33,906 138,144 422,072
Net Book Value
As at 31 March 2024 3,431,470 323,292 43,346 3,798,108
As at 1 April 2023 3,431,470 77,794 52,328 3,561,592
Page 4
Page 5
6. Investments
Subsidiaries
£
Cost
As at 1 April 2023 146,191
As at 31 March 2024 146,191
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 146,191
As at 1 April 2023 146,191
7. Stocks
2024 2023
£ £
Finished goods 26,611 24,770
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 49,681 16,157
Other debtors 256,825 136,490
306,506 152,647
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 182,171 150,313
Bank loans and overdrafts - 73,323
Corporation tax 143,729 116,176
Other taxes and social security 20,104 15,990
VAT 53,222 49,268
Other creditors 4,390 3,273
Accruals and deferred income 133,276 4,040
Amounts owed to subsidiaries 40,944 44,236
577,836 456,619
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 269,841
Page 5
Page 6
11. Deferred Taxation
The provision for deferred tax is made up of a liability for fixed asset timing differences of £52,712 (2023: £28,937) and an asset for short term timing differences of £11,277 (2023: £137). 
2024 2023
£ £
Other timing differences 41,435 28,800
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
13. Directors Advances, Credits and Guarantees
Included within other debtors is a loan to a director of £195,743 (2023: £98,745). 
The above loan is unsecured, interest free and repayable on demand. It was repaid on 7 June 2024. 
Page 6