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REGISTERED NUMBER: 11226765 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Blacksmith Arms Welton Ltd

Blacksmith Arms Welton Ltd (Registered number: 11226765)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Blacksmith Arms Welton Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr J P Faulkner-Smith
Miss S C Cladingbowl





REGISTERED OFFICE: Welton House
Bluestone Heath Road
Welton le Marsh
Spilsby
Lincolnshire
PE23 5SG





REGISTERED NUMBER: 11226765 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Blacksmith Arms Welton Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blacksmith Arms Welton Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Blacksmith Arms Welton Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blacksmith Arms Welton Ltd and state those matters that we have agreed to state to the Board of Directors of Blacksmith Arms Welton Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blacksmith Arms Welton Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Blacksmith Arms Welton Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Blacksmith Arms Welton Ltd. You consider that Blacksmith Arms Welton Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Blacksmith Arms Welton Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


30 October 2024

Blacksmith Arms Welton Ltd (Registered number: 11226765)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 514,537 503,463

CURRENT ASSETS
Stocks 3,393 2,950
Debtors 5 9,037 11,737
Cash at bank 4,881 5,917
17,311 20,604
CREDITORS
Amounts falling due within one year 6 882,547 736,876
NET CURRENT LIABILITIES (865,236 ) (716,272 )
TOTAL ASSETS LESS CURRENT LIABILITIES (350,699 ) (212,809 )

CREDITORS
Amounts falling due after more than one year 7 13,352 23,352
NET LIABILITIES (364,051 ) (236,161 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (364,151 ) (236,261 )
SHAREHOLDERS' FUNDS (364,051 ) (236,161 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Mr J P Faulkner-Smith - Director


Blacksmith Arms Welton Ltd (Registered number: 11226765)

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

1. STATUTORY INFORMATION

Blacksmith Arms Welton Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in 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.

The accounts are prepared on a going concern basis which assumes that the companies associated will continue to support the Company. If this support was not to continue then this basis may not be appropriate, as at 31 January 2024 the company had net current liabilities of £863,724 (2023: £716,272).

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Kitchen and bar machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
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
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.

Blacksmith Arms Welton Ltd (Registered number: 11226765)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Kitchen Fixtures
Land and to and bar and
Buildings property machinery fittings Totals
£    £    £    £    £   
COST
At 1 February 2023 268,647 238,254 35,263 99,423 641,587
Additions 37,574 - 6,798 2,850 47,222
At 31 January 2024 306,221 238,254 42,061 102,273 688,809
DEPRECIATION
At 1 February 2023 - 52,356 24,568 61,200 138,124
Charge for year - 18,590 3,856 13,702 36,148
At 31 January 2024 - 70,946 28,424 74,902 174,272
NET BOOK VALUE
At 31 January 2024 306,221 167,308 13,637 27,371 514,537
At 31 January 2023 268,647 185,898 10,695 38,223 503,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 8,606
Other debtors 9,037 3,131
9,037 11,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 36,356 58,622
Other creditors 836,191 668,254
882,547 736,876

Included In Other creditors is an amount owing to several companies connected to the directors amounting to £717,572 (2023: £561,938). These loans are unsecured and are on an interest free basis.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,352 23,352

Blacksmith Arms Welton Ltd (Registered number: 11226765)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary A £1 90 90
10 Ordinary B £1 10 10
100 100