Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Martin James Bridge 01/08/2012 Andrew George Whitney 01/08/2012 19 September 2024 The principal activity for the company during the year was that of a public house and restaurant. 08164887 2023-12-31 08164887 bus:Director1 2023-12-31 08164887 bus:Director2 2023-12-31 08164887 2022-12-31 08164887 core:CurrentFinancialInstruments 2023-12-31 08164887 core:CurrentFinancialInstruments 2022-12-31 08164887 core:Non-currentFinancialInstruments 2023-12-31 08164887 core:Non-currentFinancialInstruments 2022-12-31 08164887 core:ShareCapital 2023-12-31 08164887 core:ShareCapital 2022-12-31 08164887 core:RetainedEarningsAccumulatedLosses 2023-12-31 08164887 core:RetainedEarningsAccumulatedLosses 2022-12-31 08164887 core:LandBuildings 2022-12-31 08164887 core:OtherPropertyPlantEquipment 2022-12-31 08164887 core:LandBuildings 2023-12-31 08164887 core:OtherPropertyPlantEquipment 2023-12-31 08164887 2021-12-31 08164887 bus:OrdinaryShareClass1 2023-12-31 08164887 2023-01-01 2023-12-31 08164887 bus:FilletedAccounts 2023-01-01 2023-12-31 08164887 bus:SmallEntities 2023-01-01 2023-12-31 08164887 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08164887 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08164887 bus:Director1 2023-01-01 2023-12-31 08164887 bus:Director2 2023-01-01 2023-12-31 08164887 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 08164887 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-01-01 2023-12-31 08164887 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 08164887 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08164887 2022-01-01 2022-12-31 08164887 core:LandBuildings 2023-01-01 2023-12-31 08164887 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 08164887 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08164887 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08164887 (England and Wales)

THE WHIPPET INN LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

THE WHIPPET INN LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

THE WHIPPET INN LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
THE WHIPPET INN LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Martin James Bridge
Andrew George Whitney
REGISTERED OFFICE 15 North Street
York
YO1 6JD
England
United Kingdom
COMPANY NUMBER 08164887 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
THE WHIPPET INN LTD

BALANCE SHEET

As at 31 December 2023
THE WHIPPET INN LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 15,536 18,577
15,536 18,577
Current assets
Stocks 4 7,500 8,200
Debtors 5 935,467 724,708
Cash at bank and in hand 6 361,557 156,083
1,304,524 888,991
Creditors: amounts falling due within one year 7 ( 263,663) ( 315,241)
Net current assets 1,040,861 573,750
Total assets less current liabilities 1,056,397 592,327
Creditors: amounts falling due after more than one year 8 ( 822,862) ( 282,720)
Provision for liabilities 9 ( 2,952) ( 2,800)
Net assets 230,583 306,807
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 230,483 306,707
Total shareholders' funds 230,583 306,807

For the financial year 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 financial statements of The Whippet Inn Ltd (registered number: 08164887) were approved and authorised for issue by the Board of Directors on 19 September 2024. They were signed on its behalf by:

Martin James Bridge
Director
THE WHIPPET INN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
THE WHIPPET INN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Whippet Inn Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 15 North Street, York, YO1 6JD, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 years straight line
Plant and machinery etc. 3 - 4 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 27

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 30,661 141,939 172,600
Additions 0 6,874 6,874
At 31 December 2023 30,661 148,813 179,474
Accumulated depreciation
At 01 January 2023 18,247 135,776 154,023
Charge for the financial year 2,044 7,871 9,915
At 31 December 2023 20,291 143,647 163,938
Net book value
At 31 December 2023 10,370 5,166 15,536
At 31 December 2022 12,414 6,163 18,577

4. Stocks

2023 2022
£ £
Stocks 7,500 8,200

5. Debtors

2023 2022
£ £
Trade debtors 0 1,000
Amounts owed by associates 932,631 718,690
Other debtors 2,836 5,018
935,467 724,708

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 361,557 156,083

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 18,547 80,480
Trade creditors 54,924 56,377
Amounts owed to associates 1,279 1,279
Taxation and social security 123,806 120,886
Other creditors 65,107 56,219
263,663 315,241

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 822,862 282,720

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 2,800) ( 3,900)
(Charged)/credited to the Statement of Income and Retained Earnings ( 152) 1,100
At the end of financial year ( 2,952) ( 2,800)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100