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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
Page
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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
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THE THATCHED INN LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,571 
10,643 
Current assets
Inventories
11,092 
9,878 
Debtors
5,398 
6,162 
Cash at bank and in hand
106,998 
129,136 
123,488 
145,176 
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)
Net assets
12,931 
8,223 
Capital and reserves
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
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THE THATCHED INN LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
3
Accounting policies
Revenue
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.
Tangible Assets
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
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Pension costs
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
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.
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THE THATCHED INN LIMITED Notes to the Accounts for the year ended 30 April 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
40,000 
At 30 April 2024
40,000 
Amortisation
At 1 May 2023
40,000 
At 30 April 2024
40,000 
Net book value
At 30 April 2024
- 
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 
Additions
1,555 
- 
- 
1,555 
At 30 April 2024
38,284 
65,136 
1,723 
105,143 
Depreciation
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 
Net book value
At 30 April 2024
7,227 
2,344 
- 
9,571 
At 30 April 2023
7,518 
3,125 
- 
10,643 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
764 
Other debtors
5,398 
5,398 
5,398 
6,162 
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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 
VAT
25,934 
- 
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 
109,788 
131,133 
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 
£ 
£ 
Bank loans
8,522 
14,441 
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).
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