Company Registration No. 05277440 (England and Wales)
Cavalier Inns Limited
Unaudited accounts
for the year ended 31 March 2024
Cavalier Inns Limited
Unaudited accounts
Contents
Cavalier Inns Limited
Company Information
for the year ended 31 March 2024
Directors
Matthew O'Keeffe
Adrian Lever
Company Number
05277440 (England and Wales)
Registered Office
The Royal Standard of England
Forty Green
Beaconsfield
HP9 1XT
United Kingdom
Accountants
Blue Cube Accountants Limited
Britwell Grange
Britwell Road
Burnham
SL1 8DF
Cavalier Inns Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,398,345
2,221,847
Cash at bank and in hand
269,893
274,529
Creditors: amounts falling due within one year
(324,047)
(262,623)
Net current (liabilities)/assets
(15,297)
36,391
Total assets less current liabilities
2,383,048
2,258,238
Creditors: amounts falling due after more than one year
(1,077,679)
(1,214,245)
Provisions for liabilities
Deferred tax
(19,403)
(27,039)
Net assets
1,285,966
1,016,954
Called up share capital
250
240
Share premium
278,455
203,465
Profit and loss account
1,007,261
813,249
Shareholders' funds
1,285,966
1,016,954
For the 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. 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 18 October 2024 and were signed on its behalf by
Adrian Lever
Director
Company Registration No. 05277440
Cavalier Inns Limited
Notes to the Accounts
for the year ended 31 March 2024
Cavalier Inns Limited is a private company, limited by shares, registered in England and Wales, registration number 05277440. The registered office is The Royal Standard of England, Forty Green , Beaconsfield, HP9 1XT, United Kingdom.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation provided
Fixtures & fittings
15% Reducing balance
Computer equipment
33% Reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Cavalier Inns Limited
Notes to the Accounts
for the year ended 31 March 2024
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
Intangible fixed assets
Goodwill
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
2,105,879
535,336
5,597
2,646,812
Additions
208,451
14,158
915
223,524
Disposals
-
(119,889)
-
(119,889)
At 31 March 2024
2,314,330
429,605
6,512
2,750,447
At 1 April 2023
-
423,186
1,779
424,965
Charge for the year
-
14,267
1,562
15,829
On disposals
-
(88,692)
-
(88,692)
At 31 March 2024
-
348,761
3,341
352,102
At 31 March 2024
2,314,330
80,844
3,171
2,398,345
At 31 March 2023
2,105,879
112,150
3,818
2,221,847
Amounts falling due within one year
Accrued income and prepayments
15,425
-
Cavalier Inns Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
110,400
112,529
Trade creditors
39,320
29,569
Taxes and social security
86,736
43,995
Other creditors
9,409
2,778
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,077,679
1,214,245
Aggregate of amounts that fall due for payment after five years
636,079
746,479
Allotted, called up and fully paid:
250 Ordinary shares of £1 each
250
240
Shares issued during the period:
10 Ordinary shares of £1 each
10
9
Average number of employees
During the year the average number of employees was 53 (2023: 45).