IRIS Accounts Production v24.3.0.553 05360943 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053609432023-02-28053609432024-02-29053609432023-03-012024-02-29053609432022-02-28053609432022-03-012023-02-28053609432023-02-2805360943ns15:EnglandWales2023-03-012024-02-2905360943ns14:PoundSterling2023-03-012024-02-2905360943ns10:Director12023-03-012024-02-2905360943ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2905360943ns10:SmallEntities2023-03-012024-02-2905360943ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2905360943ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2905360943ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2905360943ns10:FullAccounts2023-03-012024-02-290536094312023-03-012024-02-2905360943ns10:Director22023-03-012024-02-2905360943ns10:CompanySecretary12023-03-012024-02-2905360943ns10:RegisteredOffice2023-03-012024-02-2905360943ns5:CurrentFinancialInstruments2024-02-2905360943ns5:CurrentFinancialInstruments2023-02-2805360943ns5:Non-currentFinancialInstruments2024-02-2905360943ns5:Non-currentFinancialInstruments2023-02-2805360943ns5:ShareCapital2024-02-2905360943ns5:ShareCapital2023-02-2805360943ns5:RetainedEarningsAccumulatedLosses2024-02-2905360943ns5:RetainedEarningsAccumulatedLosses2023-02-2805360943ns5:NetGoodwill2023-03-012024-02-2905360943ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2905360943ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2905360943ns5:LeaseholdImprovements2023-03-012024-02-2905360943ns5:PlantMachinery2023-03-012024-02-2905360943ns5:FurnitureFittings2023-03-012024-02-2905360943ns5:ComputerEquipment2023-03-012024-02-2905360943ns5:NetGoodwill2023-02-2805360943ns5:NetGoodwill2024-02-2905360943ns5:NetGoodwill2023-02-2805360943ns5:LandBuildings2023-02-2805360943ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2805360943ns5:LeaseholdImprovements2023-02-2805360943ns5:PlantMachinery2023-02-2805360943ns5:LandBuildings2023-03-012024-02-2905360943ns5:LandBuildings2024-02-2905360943ns5:ShortLeaseholdAssetsns5:LandBuildings2024-02-2905360943ns5:LeaseholdImprovements2024-02-2905360943ns5:PlantMachinery2024-02-2905360943ns5:LandBuildings2023-02-2805360943ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2805360943ns5:LeaseholdImprovements2023-02-2805360943ns5:PlantMachinery2023-02-2805360943ns5:FurnitureFittings2023-02-2805360943ns5:MotorVehicles2023-02-2805360943ns5:ComputerEquipment2023-02-2805360943ns5:MotorVehicles2023-03-012024-02-2905360943ns5:FurnitureFittings2024-02-2905360943ns5:MotorVehicles2024-02-2905360943ns5:ComputerEquipment2024-02-2905360943ns5:FurnitureFittings2023-02-2805360943ns5:MotorVehicles2023-02-2805360943ns5:ComputerEquipment2023-02-2805360943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2905360943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28
REGISTERED NUMBER: 05360943 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE OLD VINE HOTEL LIMITED

THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)






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


THE OLD VINE HOTEL LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: M Pugliese
A N Gray





SECRETARY: A N Gray





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 05360943 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 292,390 275,622
292,390 275,622

CURRENT ASSETS
Stocks 6,250 9,950
Debtors 6 50,447 65,084
Cash at bank and in hand 362,989 509,525
419,686 584,559
CREDITORS
Amounts falling due within one year 7 271,014 363,355
NET CURRENT ASSETS 148,672 221,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

441,062

496,826

CREDITORS
Amounts falling due after more than one
year

8

(31,903

)

(24,167

)

PROVISIONS FOR LIABILITIES (17,298 ) (13,830 )
NET ASSETS 391,861 458,829

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 391,761 458,729
SHAREHOLDERS' FUNDS 391,861 458,829

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 directors acknowledge their 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 OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

BALANCE SHEET - continued
29 February 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by:





A N Gray - Director


THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Old Vine Hotel 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These accounts have been prepared on a going-concern basis notwithstanding the deficit of reserves because it is supported by loans from the directors and they are of the opinion that the company is trading out of the difficulties present at the year end.

Turnover
Turnover represents the sale of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has been evenly amortised over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.


THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Hire purchase and leasing commitments
Rentals paid 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
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants accounting policy
Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Employment benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 57,500
AMORTISATION
At 1 March 2023
and 29 February 2024 57,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
COST
At 1 March 2023 206,871 18,399 56,074 143,527
Additions - - - 3,907
At 29 February 2024 206,871 18,399 56,074 147,434
DEPRECIATION
At 1 March 2023 - 11,921 49,430 109,608
Charge for year - 1,116 997 5,674
At 29 February 2024 - 13,037 50,427 115,282
NET BOOK VALUE
At 29 February 2024 206,871 5,362 5,647 32,152
At 28 February 2023 206,871 6,478 6,644 33,919

THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 86,803 - 5,622 517,296
Additions - 29,138 1,988 35,033
At 29 February 2024 86,803 29,138 7,610 552,329
DEPRECIATION
At 1 March 2023 66,489 - 4,226 241,674
Charge for year 3,047 6,071 1,360 18,265
At 29 February 2024 69,536 6,071 5,586 259,939
NET BOOK VALUE
At 29 February 2024 17,267 23,067 2,024 292,390
At 28 February 2023 20,314 - 1,396 275,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 50,447 65,084

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 2,953 -
Trade creditors 58,343 65,224
Taxation and social security 80,387 125,143
Other creditors 119,331 162,988
271,014 363,355

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 17,736 -
31,903 24,167

THE OLD VINE HOTEL LIMITED (REGISTERED NUMBER: 05360943)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

9. OTHER FINANCIAL COMMITMENTS

The company has total commitments under a long term operating lease as follows:-

Due within 1 year£133,939
Due between 2 and 5 years £535,755
Over 5 years£78,130

Other lease commitments due within one year amount to £17,366.

10. RELATED PARTY DISCLOSURES

During the year the directors have supported the company by way of directors loans. The balance as at the year end stood at £67,208 (£54,381 - 2023)

The directors are acting as guarantors to the company's landlords.

11. ULTIMATE CONTROLLING PARTY

The controlling party is M Pugliese.