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REGISTERED NUMBER: 02863265 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023

FOR

IRNHAM LODGE LIMITED

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


IRNHAM LODGE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023







DIRECTOR: M S Punni





REGISTERED OFFICE: Head Office 37-41 Alcombe Road
Alcombe Minehead
Somerset
TA24 6BA





REGISTERED NUMBER: 02863265 (England and Wales)





AUDITORS: Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House
Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

STATEMENT OF FINANCIAL POSITION
29 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,687 12,986
Investment property 6 1,742,576 1,400,000
1,754,263 1,412,986

CURRENT ASSETS
Debtors 7 34,286 6,785
Cash at bank 166 24,834
34,452 31,619
CREDITORS
Amounts falling due within one year 8 13,108 24,136
NET CURRENT ASSETS 21,344 7,483
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,775,607

1,420,469

PROVISIONS FOR LIABILITIES 9 167,008 167,596
NET ASSETS 1,608,599 1,252,873

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 807,612 897,347
Retained earnings 800,887 355,426
SHAREHOLDERS' FUNDS 1,608,599 1,252,873

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 director and authorised for issue on 11 October 2024 and were signed by:





M S Punni - Director


IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


1. STATUTORY INFORMATION

Irnham Lodge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

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.
Fixtures and fittings - 10% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to the income statement.

Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

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.

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 31 December 2022
and 29 December 2023 161,617
DEPRECIATION
At 31 December 2022 148,631
Charge for period 1,299
At 29 December 2023 149,930
NET BOOK VALUE
At 29 December 2023 11,687
At 30 December 2022 12,986

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 December 2022 1,400,000
Additions 482,576
Disposals (140,000 )
At 29 December 2023 1,742,576
NET BOOK VALUE
At 29 December 2023 1,742,576
At 30 December 2022 1,400,000

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Prepayments - 6,785

Amounts falling due after more than one year:
Amounts owed by group undertakings 34,286 -

Aggregate amounts 34,286 6,785

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 12,469
Tax 13,108 -
Accrued expenses - 11,667
13,108 24,136

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 167,008 167,596

Deferred
tax
£   
Balance at 31 December 2022 167,596
Provided during period (588 )
Balance at 29 December 2023 167,008

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Revaluation
reserve
£   
At 31 December 2022 897,347
Bonus share issue (89,735 )

At 29 December 2023 807,612

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sherad Dewedi (Senior Statutory Auditor)
for and on behalf of Shenward LLP

IRNHAM LODGE LIMITED (REGISTERED NUMBER: 02863265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023


13. RELATED PARTY DISCLOSURES

Punni Estates Limited 2024 2023
) )
b/f 0 0
Capital introduced (494,243 ) 0
Capital paid 528,528 0
c/f 34,286 0

14. ULTIMATE CONTROLLING PARTY

The company is a subsidiary undertaking of Punni Estates Limited, a company registered in England & Wales.

Bahadur Group Limited is regarded by the director as being the company's ultimate parent, a private limited company registered in England & Wales.