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REGISTERED NUMBER: 07673624 (England and Wales)





















Report of the Directors and

Financial Statements

for the Year Ended 31 August 2024

for

The Sorrel Horse Shottisham Limited

The Sorrel Horse Shottisham Limited (Registered number: 07673624)






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




Page

Company Information 1

Chairman's Report 400

Report of the Directors 3

Report of the Accountants 4

Statement of Income and Retained Earnings 5

Balance Sheet 6

Notes to the Financial Statements 7


The Sorrel Horse Shottisham Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: I D Murray
D F P Broome
K L Mahoney
C V Norton
D A Woodmansey
N Brett
C Ellis





REGISTERED OFFICE: 8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL





REGISTERED NUMBER: 07673624 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Chairman's Report
for the Year Ended 31 August 2024

The main event for this trading year was the sale of the lease by Flag of Suffolk and subsequent transfer of the tenancy to GJCMobile Bars. This was made dependent on the clearing of outstanding rent debt which was settled as part of the transfer. Some of this income has been invested into essential roof repairs and electrical works to protect the building which is our main asset and to assist the new tenant in their start up year.

The new tenants have settled in well and all rent and insurance payments have been received on time. Buildings insurance costs have continued to rise well above inflation and the hospitality sector remains challenging.

We anticipate a stable income year in 2024/25 with further investment to clear some the repair backlog that accumulated in the period following the pandemic.

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of public house owners.

DIVIDENDS
The board does not recommend the payment of a dividend for the year.

DIRECTORS
The directors during the year under review were:

I D Murray
D F P Broome
C L Dautzenberg - resigned 18.11.23
K L Mahoney
C V Norton
D A Woodmansey
N Livermore - resigned 18.11.23
N Brett - appointed 18.11.23
C Ellis - appointed 13.4.24

The beneficial interests of the directors holding office on 31 August 2024 in the issued share capital of the company were as follows:
1.9.23
or date of
appointment
31.8.24 if later
Ordinary £500 shares

I D Murray 4 4
D F P Broome 10 10
K L Mahoney - -
C V Norton 5 5
D A Woodmansey 2 2
N Brett - -
C Ellis - -

ON BEHALF OF THE BOARD:





K L Mahoney - Director


5 November 2024

The Sorrel Horse Shottisham Limited

Report of the Accountants to the Directors of
The Sorrel Horse Shottisham Limited


In accordance with instructions given to us, we have prepared the annexed financial statements from the accounting records of the business and from information and explanations given to us.






Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL


5 November 2024

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Statement of Income and
Retained Earnings
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 1,504 30

Administrative expenses 10,994 3,285
(9,490 ) (3,255 )

Other operating income 13,972 12,423
OPERATING PROFIT 4,482 9,168

Interest receivable and similar income 115 -
PROFIT BEFORE TAXATION 4,597 9,168

Tax on profit 4 874 1,742
PROFIT FOR THE FINANCIAL YEAR 3,723 7,426

Retained earnings at beginning of year (29,272 ) (36,698 )

RETAINED EARNINGS AT END OF
YEAR

(25,549

)

(29,272

)

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Investment property 6 381,133 381,133
381,133 381,133

CURRENT ASSETS
Debtors 7 23,028 30,761
Cash at bank 32,573 29,488
55,601 60,249
CREDITORS
Amounts falling due within one year 8 12,283 20,654
NET CURRENT ASSETS 43,318 39,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

424,451

420,728

CAPITAL AND RESERVES
Called up share capital 9 450,000 450,000
Retained earnings (25,549 ) (29,272 )
SHAREHOLDERS' FUNDS 424,451 420,728

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





K L Mahoney - Director


The Sorrel Horse Shottisham Limited (Registered number: 07673624)

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

1. STATUTORY INFORMATION

The Sorrel Horse Shottisham Limited 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.

Turnover
The turnover represents net invoiced sales of services and the primary source of income is that of rents receivable, excluding value added tax.

Intangible assets
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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

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

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 874 1,742
Tax on profit 874 1,742

5. INTANGIBLE FIXED ASSETS

Goodwill represents the nominal goodwill purchased as part of the contract of sale of the pub to the company. Goodwill has been fully amortised.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 381,133
NET BOOK VALUE
At 31 August 2024 381,133
At 31 August 2023 381,133

The directors consider that the value of the investment property has not materially changed.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,500 18,700
VAT 32 -
Prepayments and accrued income 21,496 12,061
23,028 30,761

The Covid-19 rent concession that has been in place since the 2021 accounts has now been adjusted to be smoothed over the remainder of the lease term.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 7,935 6,292
Corporation Tax 873 1,742
VAT - 3,553
Other creditors 1,280 7,280
Accruals and deferred income 2,195 1,787
12,283 20,654

The Sorrel Horse Shottisham Limited (Registered number: 07673624)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
900 Ordinary £500 450,000 450,000