Silverfin false false 31/03/2024 01/04/2023 31/03/2024 A M George 12/03/2021 W M George 12/03/2021 N T P George 12/03/2021 18 November 2024 The principal activity of the Company during the financial year was the running of a public house and bar. 13264884 2024-03-31 13264884 bus:Director1 2024-03-31 13264884 bus:Director2 2024-03-31 13264884 bus:Director3 2024-03-31 13264884 2023-03-31 13264884 core:CurrentFinancialInstruments 2024-03-31 13264884 core:CurrentFinancialInstruments 2023-03-31 13264884 core:Non-currentFinancialInstruments 2024-03-31 13264884 core:Non-currentFinancialInstruments 2023-03-31 13264884 core:ShareCapital 2024-03-31 13264884 core:ShareCapital 2023-03-31 13264884 core:RetainedEarningsAccumulatedLosses 2024-03-31 13264884 core:RetainedEarningsAccumulatedLosses 2023-03-31 13264884 core:Goodwill 2023-03-31 13264884 core:Goodwill 2024-03-31 13264884 core:PlantMachinery 2023-03-31 13264884 core:Vehicles 2023-03-31 13264884 core:FurnitureFittings 2023-03-31 13264884 core:OfficeEquipment 2023-03-31 13264884 core:PlantMachinery 2024-03-31 13264884 core:Vehicles 2024-03-31 13264884 core:FurnitureFittings 2024-03-31 13264884 core:OfficeEquipment 2024-03-31 13264884 bus:OrdinaryShareClass1 2024-03-31 13264884 bus:OrdinaryShareClass2 2024-03-31 13264884 bus:OrdinaryShareClass3 2024-03-31 13264884 2023-04-01 2024-03-31 13264884 bus:FilletedAccounts 2023-04-01 2024-03-31 13264884 bus:SmallEntities 2023-04-01 2024-03-31 13264884 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13264884 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13264884 bus:Director1 2023-04-01 2024-03-31 13264884 bus:Director2 2023-04-01 2024-03-31 13264884 bus:Director3 2023-04-01 2024-03-31 13264884 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 13264884 core:PlantMachinery 2023-04-01 2024-03-31 13264884 core:Vehicles 2023-04-01 2024-03-31 13264884 core:FurnitureFittings 2023-04-01 2024-03-31 13264884 core:OfficeEquipment 2023-04-01 2024-03-31 13264884 2022-04-01 2023-03-31 13264884 core:Goodwill 2023-04-01 2024-03-31 13264884 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 13264884 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13264884 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 13264884 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 13264884 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 13264884 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 13264884 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13264884 (England and Wales)

THE LOGAN ROCK INN LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

THE LOGAN ROCK INN LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

THE LOGAN ROCK INN LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
THE LOGAN ROCK INN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS A M George
W M George
N T P George
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 13264884 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
THE LOGAN ROCK INN LIMITED

BALANCE SHEET

As at 31 March 2024
THE LOGAN ROCK INN LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 89,600 102,400
Tangible assets 4 57,547 53,658
147,147 156,058
Current assets
Stocks 16,923 13,316
Debtors 5 10,995 18,118
Cash at bank and in hand 71,799 71,548
99,717 102,982
Creditors: amounts falling due within one year 6 ( 193,979) ( 155,778)
Net current liabilities (94,262) (52,796)
Total assets less current liabilities 52,885 103,262
Creditors: amounts falling due after more than one year 7 ( 25,396) ( 44,969)
Provision for liabilities 8 ( 11,632) ( 9,868)
Net assets 15,857 48,425
Capital and reserves
Called-up share capital 9 150 150
Profit and loss account 15,707 48,275
Total shareholders' funds 15,857 48,425

For the financial 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.

Directors' responsibilities:

The financial statements of The Logan Rock Inn Limited (registered number: 13264884) were approved and authorised for issue by the Board of Directors on 18 November 2024. They were signed on its behalf by:

A M George
Director
THE LOGAN ROCK INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
THE LOGAN ROCK INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Logan Rock Inn Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue comprises the fair value of the consideration received for the provision of food and drink. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 33 34

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 128,000 128,000
At 31 March 2024 128,000 128,000
Accumulated amortisation
At 01 April 2023 25,600 25,600
Charge for the financial year 12,800 12,800
At 31 March 2024 38,400 38,400
Net book value
At 31 March 2024 89,600 89,600
At 31 March 2023 102,400 102,400

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 41,678 1,245 19,768 461 63,152
Additions 7,771 7,000 1,995 316 17,082
Disposals 0 ( 1,245) 0 0 ( 1,245)
At 31 March 2024 49,449 7,000 21,763 777 78,989
Accumulated depreciation
At 01 April 2023 4,259 545 4,662 28 9,494
Charge for the financial year 7,988 1,356 3,077 115 12,536
Disposals 0 ( 588) 0 0 ( 588)
At 31 March 2024 12,247 1,313 7,739 143 21,442
Net book value
At 31 March 2024 37,202 5,687 14,024 634 57,547
At 31 March 2023 37,419 700 15,106 433 53,658

5. Debtors

2024 2023
£ £
Corporation tax ( 1,995) 5,900
Other debtors 12,990 12,218
10,995 18,118

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 24,573 24,789
Trade creditors 29,622 2,548
Other taxation and social security 28,688 10,194
Other creditors 111,096 118,247
193,979 155,778

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 25,396 44,969

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2024 2023
£ £
Other provisions 11,632 9,868

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
50 C ordinary shares of £ 1.00 each 50 50
150 150