Registered number
14304568
The Headland Inn Ltd
Filleted Accounts
31 March 2024
The Headland Inn Ltd
Registered number: 14304568
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,080 -
Current assets
Stocks 1,200 1,038
Cash at bank and in hand 8,706 8,248
9,906 9,286
Creditors: amounts falling due within one year 4 (72,391) (9,199)
Net current (liabilities)/assets (62,485) 87
Net (liabilities)/assets (59,405) 87
Capital and reserves
Called up share capital 2 2
Profit and loss account (59,407) 85
Shareholder's funds (59,405) 87
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Westhorp
Director
Approved by the board on 27 December 2024
The Headland Inn Ltd
Notes to the Accounts
for the period from 1 September 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Unrelieved tax losses 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. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 3,851
At 31 March 2024 3,851
Depreciation
Charge for the period 771
At 31 March 2024 771
Net book value
At 31 March 2024 3,080
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 21 21
Other creditors 72,370 9,178
72,391 9,199
5 Other information
The Headland Inn Ltd is a private company limited by shares and incorporated in England. Its registered office is:
39b York Road
Hartlepool
TS26 8AH
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