Company Registration No. 4685689 (England and Wales)
THE THATCHED INN LIMITED
Unaudited accounts
for the year ended 30 April 2024
THE THATCHED INN LIMITED
Unaudited accounts
Contents
THE THATCHED INN LIMITED
Company Information
for the year ended 30 April 2024
Directors
David Simmons
Leisa Simmons
Company Number
4685689 (England and Wales)
Registered Office
Grand Avenue
Hassocks
West Sussex
BN6 8DH
Accountants
Angela MacCarthy Limited T A On The Spot
7 Chalfont Drive
Hove
East Sussex
BN3 6QR
THE THATCHED INN LIMITED
Statement of financial position
as at 30 April 2024
Tangible assets
9,571
10,643
Cash at bank and in hand
106,998
129,136
Creditors: amounts falling due within one year
(109,788)
(131,133)
Net current assets
13,700
14,043
Total assets less current liabilities
23,271
24,686
Creditors: amounts falling due after more than one year
(8,522)
(14,441)
Provisions for liabilities
Deferred tax
(1,818)
(2,022)
Called up share capital
2
2
Profit and loss account
12,929
8,221
Shareholders' funds
12,931
8,223
For the year ending 30 April 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
David Simmons
Director
Company Registration No. 4685689
THE THATCHED INN LIMITED
Notes to the Accounts
for the year ended 30 April 2024
THE THATCHED INN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 4685689. The registered office is Grand Avenue, Hassocks, West Sussex, BN6 8DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery
25% per annum straight line
Fixtures & fittings
15% reducing balance
Computer equipment
33.3% per annum straight line
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
The company operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the profit and loss account in the period to which they relate.
Operating Lease Commitments
At the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining
life of those leases of £68,343 (2023: £68,343).
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
THE THATCHED INN LIMITED
Notes to the Accounts
for the year ended 30 April 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
36,729
65,136
1,723
103,588
At 30 April 2024
38,284
65,136
1,723
105,143
At 1 May 2023
29,211
62,011
1,723
92,945
Charge for the year
1,846
781
-
2,627
At 30 April 2024
31,057
62,792
1,723
95,572
At 30 April 2024
7,227
2,344
-
9,571
At 30 April 2023
7,518
3,125
-
10,643
Amounts falling due within one year
THE THATCHED INN LIMITED
Notes to the Accounts
for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,744
6,959
Trade creditors
28,134
29,258
Taxes and social security
3,025
42,197
Other creditors
9,276
2,765
Loans from directors
35,675
49,954
In September 2020, the company received a bank loan for £30,000 which is repayable by way of 60 instalments. The loan is secured by the UK Government under the Bounce Back Loan Scheme.
8
Creditors: amounts falling due after more than one year
2024
2023
9
Transactions with related parties
The transactions with the directors and shareholders have not been conducted under normal market conditions. A total balance of £35,675 is owed to D Simmons and L Simmons at the year end, no interest is being charged by the directors.
10
Average number of employees
During the year the average number of employees was 32 (2023: 33).