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COMPANY REGISTRATION NUMBER: 10458757
Bravin Inns Limited
Filleted Unaudited Financial Statements
31 March 2024
Bravin Inns Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
106,414
98,750
Current assets
Stocks
7,999
8,842
Debtors
6
22,784
3,894
Cash at bank and in hand
485,960
277,034
---------
---------
516,743
289,770
Creditors: amounts falling due within one year
7
128,315
91,179
---------
---------
Net current assets
388,428
198,591
---------
---------
Total assets less current liabilities
494,842
297,341
---------
---------
Net assets
494,842
297,341
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
494,742
297,241
---------
---------
Shareholders funds
494,842
297,341
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bravin Inns Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
A Viney
Director
Company registration number: 10458757
Bravin Inns Limited
Notes to the Financial Statements
Year ended 31 March 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 The Punchbowl Inn, Oxford Street, Woodstock, England, OX20 1TR.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Fixtures and fittings
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
69,746
100,000
169,746
Additions
6,126
30,782
36,908
--------
---------
---------
At 31 March 2024
75,872
130,782
206,654
--------
---------
---------
Depreciation
At 1 April 2023
43,137
27,859
70,996
Charge for the year
6,080
23,164
29,244
--------
---------
---------
At 31 March 2024
49,217
51,023
100,240
--------
---------
---------
Carrying amount
At 31 March 2024
26,655
79,759
106,414
--------
---------
---------
At 31 March 2023
26,609
72,141
98,750
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
22,784
3,894
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
22,748
25,055
Corporation tax
72,604
19,003
Social security and other taxes
30,655
28,930
Other creditors
2,308
18,191
---------
--------
128,315
91,179
---------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
A Viney
( 15,066)
( 35,157)
49,595
( 628)
--------
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
A Viney
( 228)
( 89,442)
74,604
( 15,066)
----
--------
--------
--------