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Registration number: 04601304

Pollard Inns Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Pollard Inns Limited

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Pollard Inns Limited

Company Information

Directors

Mrs K Barnes-Quinn

Mr P Pollard

Mrs Aimee Pollard

Registered office

22 Market Place
Olney
MK46 4BA

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers
19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Pollard Inns Limited

(Registration number: 04601304)
Statement of financial position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

751,258

746,589

Current assets

 

Stocks

5

10,626

11,216

Debtors

6

20,542

5,046

Cash at bank and in hand

 

79,785

52,421

 

110,953

68,683

Creditors: Amounts falling due within one year

7

(90,925)

(91,750)

Net current assets/(liabilities)

 

20,028

(23,067)

Total assets less current liabilities

 

771,286

723,522

Provisions for liabilities

(5,382)

(4,435)

Net assets

 

765,904

719,087

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

15,880

15,880

Retained earnings

749,924

703,107

Shareholders' funds

 

765,904

719,087

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 22 October 2024 and signed on its behalf by:
 

 

Pollard Inns Limited

(Registration number: 04601304)
Statement of financial position as at 31 January 2024

.........................................
Mrs K Barnes-Quinn
Director

 

Pollard Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Market Place
Olney
MK46 4BA

These financial statements were authorised for issue by the Board on 22 October 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pollard Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Not depreciated

Computer Equipment

30% Reducing Balance

Fixtures and Fittings

12% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pollard Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

728,111

169,270

3,605

900,986

Additions

-

7,631

750

8,381

At 31 January 2024

728,111

176,901

4,355

909,367

Depreciation

At 1 February 2023

-

152,758

1,639

154,397

Charge for the year

-

2,897

815

3,712

At 31 January 2024

-

155,655

2,454

158,109

Carrying amount

At 31 January 2024

728,111

21,246

1,901

751,258

At 31 January 2023

728,111

16,512

1,966

746,589

5

Stocks

2024
£

2023
£

Other inventories

10,626

11,216

 

Pollard Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

debtors

Note

2024
£

2023
£

Trade debtors

 

-

1,475

Amounts owed by related parties

9

6,400

-

Other debtors

 

6,968

2,435

Prepayments

 

7,174

1,136

 

20,542

5,046

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

19,812

16,394

Amounts due to related parties

9

1

25,375

Social security and other taxes

 

15,200

9,750

Other payables

 

11,543

10,343

Accruals

 

8,406

900

Tax liability

35,963

28,988

 

90,925

91,750

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

Pollard Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

Summary of transactions with other related parties

Pollard Inns Limited paid Barnes Quinn Associates Limited £32,750 in the year for computing, repairs and consultancy costs. Barnes Quinn Associates Limited owe Pollard Inns Limited £6,400 at the end of the financial year which is shown in debtors. Barnes Quinn Associates Limited is owned by Mrs K Barnes-Quinn, who is also a director of Pollard Inns Limited.