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Company No: 02053248 (England and Wales)

BRITTANY INNS LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 31 March 2024

BRITTANY INNS LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BRITTANY INNS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
BRITTANY INNS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Matthew Guy Richard Sankey
SECRETARY Matthew Guy Richard Sankey
REGISTERED OFFICE 39 Mount Ephraim
Tunbridge Wells
TN4 8AA
United Kingdom
COMPANY NUMBER 02053248 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
BRITTANY INNS LIMITED

BALANCE SHEET

As at 31 March 2024
BRITTANY INNS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 354,775 342,807
354,775 342,807
Current assets
Stocks 12,000 12,000
Debtors 438,537 405,018
Cash at bank and in hand 351 8,944
450,888 425,962
Creditors: amounts falling due within one year ( 466,813) ( 376,127)
Net current (liabilities)/assets (15,925) 49,835
Total assets less current liabilities 338,850 392,642
Creditors: amounts falling due after more than one year ( 46,712) ( 76,670)
Provision for liabilities ( 67,407) ( 65,133)
Net assets 224,731 250,839
Capital and reserves
Called-up share capital 6 46,665 46,665
Capital redemption reserve 44,835 44,835
Profit and loss account 133,231 159,339
Total shareholder's funds 224,731 250,839

For the financial 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.

Director's responsibilities:

The financial statements of Brittany Inns Limited (registered number: 02053248) were approved and authorised for issue by the Director on 15 October 2024. They were signed on its behalf by:

Matthew Guy Richard Sankey
Director
BRITTANY INNS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BRITTANY INNS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Brittany Inns Limited (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 39 Mount Ephraim, Tunbridge Wells, TN4 8AA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 10 years straight line
Plant and machinery etc. 20 % 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 30 36

3. Finance costs

2024 2023
£ £
Interest payable and similar expenses 10,429 7,338

4. Tax on profit/(loss)

2024 2023
£ £
Current tax on profit/(loss)
UK corporation tax 843 10,972
Total current tax 843 10,972
Deferred tax
Origination and reversal of timing differences 2,274 7,604
Total deferred tax 2,274 7,604
Total tax on profit/(loss) 3,117 18,576

5. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 78,859 1,310,748 1,389,607
Additions 0 81,308 81,308
At 31 March 2024 78,859 1,392,056 1,470,915
Accumulated depreciation
At 01 April 2023 78,859 967,941 1,046,800
Charge for the financial year 0 69,340 69,340
At 31 March 2024 78,859 1,037,281 1,116,140
Net book value
At 31 March 2024 0 354,775 354,775
At 31 March 2023 0 342,807 342,807

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
46,665 Ordinary shares of £ 1.00 each 46,665 46,665

7. Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.