25 false false false false false false false false false false true false false false false false false 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07708310 2022-08-01 2024-01-31 07708310 2024-01-31 07708310 2022-07-31 07708310 2021-08-01 2022-07-31 07708310 2022-07-31 07708310 2021-07-31 07708310 core:LandBuildings core:ShortLeaseholdAssets 2022-08-01 2024-01-31 07708310 core:PlantMachinery 2022-08-01 2024-01-31 07708310 core:FurnitureFittings 2022-08-01 2024-01-31 07708310 core:MotorVehicles 2022-08-01 2024-01-31 07708310 bus:Director1 2022-08-01 2024-01-31 07708310 core:LandBuildings 2022-07-31 07708310 core:PlantMachinery 2022-07-31 07708310 core:FurnitureFittings 2022-07-31 07708310 core:MotorVehicles 2022-07-31 07708310 core:LandBuildings 2022-08-01 2024-01-31 07708310 core:WithinOneYear 2024-01-31 07708310 core:WithinOneYear 2022-07-31 07708310 core:AfterOneYear 2024-01-31 07708310 core:AfterOneYear 2022-07-31 07708310 core:ShareCapital 2024-01-31 07708310 core:ShareCapital 2022-07-31 07708310 core:RetainedEarningsAccumulatedLosses 2024-01-31 07708310 core:RetainedEarningsAccumulatedLosses 2022-07-31 07708310 core:LandBuildings 2022-07-31 07708310 core:PlantMachinery 2022-07-31 07708310 core:FurnitureFittings 2022-07-31 07708310 core:MotorVehicles 2022-07-31 07708310 bus:SmallEntities 2022-08-01 2024-01-31 07708310 bus:AuditExemptWithAccountantsReport 2022-08-01 2024-01-31 07708310 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2024-01-31 07708310 bus:PrivateLimitedCompanyLtd 2022-08-01 2024-01-31 07708310 bus:FullAccounts 2022-08-01 2024-01-31
COMPANY REGISTRATION NUMBER: 07708310
Limehouse Inns Limited
Unaudited financial statements
31 January 2024
Limehouse Inns Limited
Statement of financial position
31 January 2024
31 Jan 24
31 Jul 22
Note
£
£
£
£
Fixed assets
Tangible assets
5
73,234
Current assets
Stocks
10,491
Debtors
6
5,374
22,923
Cash at bank and in hand
440
170,183
------
---------
5,814
203,597
Creditors: Amounts falling due within one year
7
( 24,113)
( 158,660)
-------
---------
Net current (liabilities)/assets
( 18,299)
44,937
-------
---------
Total assets less current liabilities
( 18,299)
118,171
Creditors: Amounts falling due after more than one year
8
( 23,333)
( 54,084)
Provisions
Taxation including deferred tax
( 11,545)
Accruals and deferred income
( 2,232)
-------
---------
Net (liabilities)/assets
( 41,632)
50,310
-------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 41,732)
50,210
-------
-------
Shareholders (deficit)/funds
( 41,632)
50,310
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Limehouse Inns Limited
Statement of financial position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Miss S Grant
Director
Company registration number: 07708310
Limehouse Inns Limited
Notes to the financial statements
Period from 1 August 2022 to 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, NR7 0LB. The trading address of the company is Ixworth Road, Norton, Bury St Edmunds, Suffolk, IP31 3LP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Kitchen equipment
-
15% reducing balance
Office equipment
-
25% straight line
Furniture and fixtures
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the period was 25 (2022: 30 ).
5. Tangible assets
Kitchen equipment
Office equipment
Furniture and fixtures
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2022
43,003
11,818
53,353
43,795
151,969
Additions
219
219
Disposals
( 43,222)
( 11,818)
( 53,353)
( 43,795)
( 152,188)
-------
-------
-------
-------
---------
At 31 January 2024
-------
-------
-------
-------
---------
Depreciation
At 1 August 2022
22,348
9,566
29,556
17,265
78,735
Charge for the period
3,126
794
3,570
6,077
13,567
Disposals
( 25,474)
( 10,360)
( 33,126)
( 23,342)
( 92,302)
-------
-------
-------
-------
---------
At 31 January 2024
-------
-------
-------
-------
---------
Carrying amount
At 31 January 2024
-------
-------
-------
-------
---------
At 31 July 2022
20,655
2,252
23,797
26,530
73,234
-------
-------
-------
-------
---------
6. Debtors
31 Jan 24
31 Jul 22
£
£
Prepayments and accrued income
14,356
Other debtors
5,374
8,567
------
-------
5,374
22,923
------
-------
7. Creditors: Amounts falling due within one year
31 Jan 24
31 Jul 22
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
459
67,390
Amounts owed to group undertakings and undertakings in which the company has a participating interest
7,569
Social security and other taxes
2,993
59,775
Other creditors
3,092
21,495
-------
---------
24,113
158,660
-------
---------
Included within other creditors were obligations under hire purchase agreements totalling £Nil (2022: £3,885 ), which were secured against the assets to which they relate.
8. Creditors: Amounts falling due after more than one year
31 Jan 24
31 Jul 22
£
£
Bank loans and overdrafts
23,333
33,333
Other creditors
20,751
-------
-------
23,333
54,084
-------
-------
Included within other creditors were obligations under hire purchase agreements totalling £Nil (2022: £20,751), which were secured against the assets to which they relate.