Company registration number:
SC565452
W&S Inns Ltd
Trading as
Castle Bar
Unaudited filleted abridged financial statements
31 May 2024
W&S Inns Ltd
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
W&S Inns Ltd
Directors and other information
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Directors |
Mr William Anderson |
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Mr Stuart Anderson |
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Secretary |
William Anderson |
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Company number |
SC565452 |
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Registered office |
6 Low Street |
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Banff |
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Aberdeenshire |
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AB45 1AS |
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Business address |
47 Castle Street |
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Banff |
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Aberdeenshire |
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AB45 1DQ |
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Accountant |
MOR Accounting Services |
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11 Glenfield Avenue |
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Cowdenbeath |
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Fife |
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KY4 9EN |
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W&S Inns Ltd
Abridged statement of financial position
31 May 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
12,267 |
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16,095 |
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_______ |
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_______ |
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12,267 |
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16,095 |
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Current assets |
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Stocks |
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2,502 |
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2,502 |
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Cash at bank and in hand |
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236,468 |
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249,623 |
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_______ |
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_______ |
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241,224 |
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249,871 |
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Creditors: amounts falling due |
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within one year |
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(
62,472) |
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(
95,204) |
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_______ |
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_______ |
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Net current assets |
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178,752 |
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154,667 |
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_______ |
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Total assets less current liabilities |
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191,019 |
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170,762 |
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Creditors: amounts falling due |
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after more than one year |
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(
10,064) |
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(
12,693) |
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_______ |
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Net assets |
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180,955 |
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158,069 |
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Capital and reserves |
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Called up share capital |
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10 |
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10 |
Profit and loss account |
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180,945 |
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158,059 |
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_______ |
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Shareholders funds |
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180,955 |
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158,069 |
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_______ |
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_______ |
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
26 November 2024
, and are signed on behalf of the board by:
Mr William Anderson
Director
Company registration number:
SC565452
W&S Inns Ltd
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is W1 Inns Ltd, 6 Low Street, Banff, Aberdeenshire, AB45 1AS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax represents the sum of tax payable.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any 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:
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Plant and machinery |
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25 % |
straight line |
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Fittings fixtures and equipment |
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15 % |
straight line |
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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 profit or loss.
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 stocks to their present location and condition.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
6
(2023:
5
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The aggregate payroll costs incurred during the year were:
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2024 |
2023 |
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£ |
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Wages and salaries |
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59,887 |
57,018 |
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_______ |
_______ |
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5.
Tangible assets
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£ |
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Cost |
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At 1 June 2023 and 31 May 2024 |
24,173 |
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Depreciation |
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At 1 June 2023 |
8,078 |
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Charge for the year |
3,828 |
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_______ |
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At 31 May 2024 |
11,906 |
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Carrying amount |
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At 31 May 2024 |
12,267 |
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_______ |
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At 31 May 2023 |
16,095 |
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_______ |
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6.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr William Anderson |
(
10,333) |
4,376 |
(
5,957) |
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_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr William Anderson |
(
11,451) |
1,118 |
(
10,333) |
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_______ |
_______ |
_______ |
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