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Registration number: OC415432

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Annual Report and Unaudited Financial Statements

for the period from 1 February 2023 to 31 October 2023

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Notes to the Financial Statements

4

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Limited liability partnership information

Designated members

Prancing Pony Pub Group Ltd

D Hartley
 

Registered office

The Smugglers Inn
Seaton
Torpoint
Cornwall
PL11 3JD

Accountants

Herbert Lewis Williams & Associates Limited
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

(Registration number: OC415432)
Balance Sheet as at 31 October 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

3

-

53,393

Current assets

 

Stocks

4

-

6,000

Debtors

5

106,781

85,706

Cash and short-term deposits

 

28

6,518

 

106,809

98,224

Creditors: Amounts falling due within one year

6

(38,969)

(99,330)

Net current assets/(liabilities)

 

67,840

(1,106)

Total assets less current liabilities

 

67,840

52,287

Creditors: Amounts falling due after more than one year

7

(28,000)

(34,329)

Net assets attributable to members

 

39,840

17,958

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

65,738

29,441

Members’ other interests

 

Other reserves

 

(25,898)

(11,483)

   

39,840

17,958

Total members' interests

 

Loans and other debts due to members

 

65,738

29,441

Equity

 

(25,898)

(11,483)

   

39,840

17,958

For the year ending 31 October 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

(Registration number: OC415432)
Balance Sheet as at 31 October 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of The Smugglers Inn Seaton LLP (registered number OC415432) were approved by the Board and authorised for issue on 10 October 2024. They were signed on behalf of the limited liability partnership by:

.........................................
D Hartley
Designated member

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Notes to the Financial Statements for the Period from 1 February 2023 to 31 October 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of The Smugglers Inn Seaton LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 1 (2023 - 17).

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Notes to the Financial Statements for the Period from 1 February 2023 to 31 October 2023

3

Tangible fixed assets

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 February 2023

95,923

5,085

101,008

Disposals

(95,923)

(5,085)

(101,008)

At 31 October 2023

-

-

-

Depreciation

At 1 February 2023

45,117

2,498

47,615

Charge for the year

8,666

644

9,310

Eliminated on disposals

(53,783)

(3,142)

(56,925)

At 31 October 2023

-

-

-

Net book value

At 31 October 2023

-

-

-

At 31 January 2023

50,806

2,587

53,393

4

Stocks

2023
£

2023
£

Stocks

-

6,000

5

Debtors

2023
£

2023
£

Other debtors

106,781

83,284

Prepayments and accrued income

-

2,422

Total current trade and other debtors

106,781

85,706

 

The Smugglers Inn Seaton LLP

trading as The Smugglers Inn

Notes to the Financial Statements for the Period from 1 February 2023 to 31 October 2023

6

Creditors: Amounts falling due within one year

2023
£

2023
£

Bank loans and overdrafts

7,000

7,000

Trade creditors

-

20,486

Other creditors

23,492

44,350

Accruals and deferred income

1,800

702

Taxation and social security

6,677

26,792

38,969

99,330

7

Creditors: Amounts falling due after more than one year

2023
£

2023
£

Bank loans and overdrafts

28,000

28,000

Other creditors

-

6,329

28,000

34,329

8

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.