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REGISTERED NUMBER: 05218572 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

3 INN LIMITED

3 INN LIMITED (REGISTERED NUMBER: 05218572)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


3 INN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M P Lee
M R Moscrop
J D Lee





REGISTERED OFFICE: Cheribourne House
45A Station Road
Willington
Bedford
Bedfordshire
MK44 3QL





REGISTERED NUMBER: 05218572 (England and Wales)





ACCOUNTANTS: Baker Noel
Cheribourne House
45A Station Road
Willington
Bedford
Bedfordshire
MK44 3QL

3 INN LIMITED (REGISTERED NUMBER: 05218572)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 759,896 772,371

CURRENT ASSETS
Stocks 30,248 26,518
Debtors 5 6,444 4,226
Cash at bank and in hand 62,889 50,871
99,581 81,615
CREDITORS
Amounts falling due within one year 6 387,601 341,896
NET CURRENT LIABILITIES (288,020 ) (260,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,876

512,090

CREDITORS
Amounts falling due after more than one
year

7

(123,328

)

(216,352

)

PROVISIONS FOR LIABILITIES (7,173 ) (6,543 )
NET ASSETS 341,375 289,195

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Revaluation reserve 9 65,390 67,570
Retained earnings 9 125,985 71,625
341,375 289,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

3 INN LIMITED (REGISTERED NUMBER: 05218572)

BALANCE SHEET - continued
30 JUNE 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





M P Lee - Director


3 INN LIMITED (REGISTERED NUMBER: 05218572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

3 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.

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 modified by the revaluation of certain assets.

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 - 2% on revalued amount
Plant and machinery - 50% on cost, 20% on cost and 10% on cost
Fixtures and fittings - 33% on cost and 20% on cost

Historic revalued amounts are shown at deemed cost.

The excess depreciation on the revalued amount is transferred from the profit and loss to the revaluation reserve over the remaining life of the asset.

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 Income Statement, 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.

3 INN LIMITED (REGISTERED NUMBER: 05218572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 974,711 241,408 158,323 1,374,442
Additions - 18,114 7,813 25,927
Disposals - (12,854 ) (1,549 ) (14,403 )
At 30 June 2024 974,711 246,668 164,587 1,385,966
DEPRECIATION
At 1 July 2023 231,301 218,255 152,515 602,071
Charge for year 14,494 19,079 4,715 38,288
Eliminated on disposal - (12,740 ) (1,549 ) (14,289 )
At 30 June 2024 245,795 224,594 155,681 626,070
NET BOOK VALUE
At 30 June 2024 728,916 22,074 8,906 759,896
At 30 June 2023 743,410 23,153 5,808 772,371

Included in cost or valuation of land and buildings is freehold land of £ 250,000 (2023 - £ 250,000 ) which is not depreciated.

Historic revalued amounts are shown at deemed cost.

The excess depreciation on the revalued amount is transferred from the profit and loss to the revaluation reserve over the remaining life of the asset.

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2005 108,986 - - 108,986
Cost 865,725 246,668 164,587 1,276,980
974,711 246,668 164,587 1,385,966

3 INN LIMITED (REGISTERED NUMBER: 05218572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 865,725 865,725
Aggregate depreciation 189,887 189,887

Value of land in freehold land and buildings 250,000 250,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,362 181
Other debtors 4,082 4,045
6,444 4,226

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 96,958 86,037
Trade creditors 47,276 57,771
Taxation and social security 78,281 49,732
Other creditors 165,086 148,356
387,601 341,896

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 28,444 125,118
Other creditors 94,884 91,234
123,328 216,352

Included in creditors owed in more than one year are non-convertible loan notes totalling £94,884 (2023: £91,234). Daily interest is accrued at 4% per annum.

3 INN LIMITED (REGISTERED NUMBER: 05218572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 125,402 211,155

The facilities with HSBC bank are secured by legal charge over the freehold property and debenture, comprising fixed and floating charges, over all assets and undertakings of the company, both present and future.

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 71,625 67,570 139,195
Profit for the year 92,830 92,830
Dividends (40,650 ) (40,650 )
Transfer between reserves 2,180 (2,180 ) -
At 30 June 2024 125,985 65,390 191,375

10. RELATED PARTY DISCLOSURES

At the 30 June 2024 £118,253 (2023 £111,984) was due to the directors.

11. PREFERENCE SHARES

The preference shares have no future right to dividends and no option to be redeemed by the holder except on winding up.