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REGISTERED NUMBER: 03752269 (England and Wales)










Chequers Green Limited
T/A
The Chequers Inn

Unaudited Financial Statements

for the Year Ended 29 February 2024






Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chequers Green Limited
T/A The Chequers Inn

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S M Thoyts





SECRETARY: D E A Wells





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 03752269 (England and Wales)

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 99,745 106,876
99,745 106,876

CURRENT ASSETS
Stocks 6 2,000 2,000
Debtors 7 1,620 163
Cash at bank and in hand 98,420 139,687
102,040 141,850
CREDITORS
Amounts falling due within one year 8 (28,169 ) (33,951 )
NET CURRENT ASSETS 73,871 107,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,616

214,775

CREDITORS
Amounts falling due after more than one year 9 (133,386 ) (163,345 )
NET ASSETS 40,230 51,430

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 10,230 21,430
SHAREHOLDERS' FUNDS 40,230 51,430

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2024 and were signed by:





S M Thoyts - Director


Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

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.

The company's functional and presentational currency is pound sterling.

GOING CONCERN
The financial statements have been prepared on a going concern basis on the understanding that the director will continue to financially support the company.

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 and after eliminating sales within the company.

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.

GOODWILL
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

AMORTISATION
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset classAmortisation method and rate
Goodwill5% Straight line

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 classDepreciation method and rate
Land and buildings - leasehold propertiesStraight line over the life of the lease
Plant and machinery15% Reducing balance
Fixtures and fittings15% Reducing balance

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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made 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
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 changes in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for inventory 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.

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023
and 29 February 2024 10,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Long
leasehold Fixtures
land and Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 217,371 120,003 24,335 361,709
Additions - 420 - 420
At 29 February 2024 217,371 120,423 24,335 362,129
DEPRECIATION
At 1 March 2023 122,890 110,674 21,269 254,833
Charge for year 5,629 1,462 460 7,551
At 29 February 2024 128,519 112,136 21,729 262,384
NET BOOK VALUE
At 29 February 2024 88,852 8,287 2,606 99,745
At 28 February 2023 94,481 9,329 3,066 106,876

6. STOCKS
2024 2023
£    £   
Stocks 2,000 2,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Wages control account 1,432 -
Prepayments and accrued income 179 163
Corporation tax 9 -
1,620 163

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,427 16,441
Corporation tax - 553
VAT control account 14,483 12,009
Social security and other taxes 2,111 1,997
Pension contribution unpaid 259 364
Accruals and deferred income 2,889 2,587
28,169 33,951

Chequers Green Limited (Registered number: 03752269)
T/A The Chequers Inn

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans and borrowings 12,640 42,599
Directors current accounts 120,746 120,746
133,386 163,345

Amounts falling due in more than five years:

Repayable by instalments
Loans and borrowings 12,640 42,599

10. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

Amounts not provided for in the balance sheet
The total amount of guarantees not included in the balance sheet is £96,730 (2023 - £115,616). Chequers Green Limited is guarantor for the outstanding borrowings of its parent company, Chequers Blue Limited. Security on the borrowings has been provided by way of a legal charge registered over the company's leasehold property.