20 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 70,000 35,000 7,000 42,000 28,000 35,000 xbrli:pure xbrli:shares iso4217:GBP 11065497 2023-04-01 2024-03-31 11065497 2024-03-31 11065497 2023-03-31 11065497 2022-04-01 2023-03-31 11065497 2023-03-31 11065497 2022-03-31 11065497 core:PlantMachinery 2023-04-01 2024-03-31 11065497 core:FurnitureFittings 2023-04-01 2024-03-31 11065497 core:MotorVehicles 2023-04-01 2024-03-31 11065497 core:NetGoodwill 2023-04-01 2024-03-31 11065497 bus:Director1 2023-04-01 2024-03-31 11065497 core:NetGoodwill 2023-03-31 11065497 core:NetGoodwill 2024-03-31 11065497 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 11065497 core:PlantMachinery 2023-03-31 11065497 core:FurnitureFittings 2023-03-31 11065497 core:MotorVehicles 2023-03-31 11065497 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 11065497 core:PlantMachinery 2024-03-31 11065497 core:FurnitureFittings 2024-03-31 11065497 core:MotorVehicles 2024-03-31 11065497 core:WithinOneYear 2024-03-31 11065497 core:WithinOneYear 2023-03-31 11065497 core:AfterOneYear 2024-03-31 11065497 core:AfterOneYear 2023-03-31 11065497 core:ShareCapital 2024-03-31 11065497 core:ShareCapital 2023-03-31 11065497 core:RetainedEarningsAccumulatedLosses 2024-03-31 11065497 core:RetainedEarningsAccumulatedLosses 2023-03-31 11065497 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 11065497 core:NetGoodwill 2023-03-31 11065497 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 11065497 core:PlantMachinery 2023-03-31 11065497 core:FurnitureFittings 2023-03-31 11065497 core:MotorVehicles 2023-03-31 11065497 bus:SmallEntities 2023-04-01 2024-03-31 11065497 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11065497 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11065497 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11065497 bus:FullAccounts 2023-04-01 2024-03-31 11065497 core:OfficeEquipment 2023-04-01 2024-03-31 11065497 core:OfficeEquipment 2024-03-31 11065497 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 11065497
Coast and Country Inns Ltd
Filleted Unaudited Financial Statements
31 March 2024
Coast and Country Inns Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
28,000
35,000
Tangible assets
6
78,810
92,484
---------
---------
106,810
127,484
Current assets
Stocks
9,960
15,895
Debtors
7
26,412
26,412
Cash at bank and in hand
6,536
--------
--------
42,908
42,307
Creditors: amounts falling due within one year
8
377,746
309,867
---------
---------
Net current liabilities
334,838
267,560
---------
---------
Total assets less current liabilities
( 228,028)
( 140,076)
Creditors: amounts falling due after more than one year
9
27,237
67,253
---------
---------
Net liabilities
( 255,265)
( 207,329)
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
( 255,269)
( 207,333)
---------
---------
Shareholders deficit
( 255,265)
( 207,329)
---------
---------
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 statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Coast and Country Inns Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 December 2024 , and are signed on behalf of the board by:
Mr G A Hewitt
Director
Company registration number: 11065497
Coast and Country Inns Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Boathouse Business Centre, Harbour Square, Nene Parade, Wisbech, PE13 3BH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
At the year end the balance sheet was in deficit by £255,265 (2023: £207,329), the directors still feel it is appropriate to prepare the financial statements on a going concern basis as they have director's loan account balances amounting to £199,617 (2023: £174,925) that the directors have agreed they will not seek repayment of until the company has sufficient funds in place. The company also has other external sources of finance totalling £107,774 (2023: £81,769) that they are confident will not be be withdrawn within 12 months of the balance sheet date.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Short leasehold property
-
Straight line over 20 years
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its present location and condition.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 40 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
70,000
--------
Amortisation
At 1 April 2023
35,000
Charge for the year
7,000
--------
At 31 March 2024
42,000
--------
Carrying amount
At 31 March 2024
28,000
--------
At 31 March 2023
35,000
--------
6. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023 and 31 Mar 2024
5,662
65,289
95,850
2,600
1,435
170,836
-------
--------
--------
-------
-------
---------
Depreciation
At 1 Apr 2023
1,112
24,029
51,186
1,138
887
78,352
Charge for the year
283
6,189
6,700
365
137
13,674
-------
--------
--------
-------
-------
---------
At 31 Mar 2024
1,395
30,218
57,886
1,503
1,024
92,026
-------
--------
--------
-------
-------
---------
Carrying amount
At 31 Mar 2024
4,267
35,071
37,964
1,097
411
78,810
-------
--------
--------
-------
-------
---------
At 31 Mar 2023
4,550
41,260
44,664
1,462
548
92,484
-------
--------
--------
-------
-------
---------
7. Debtors
2024
2023
£
£
Other debtors
26,412
26,412
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
20,138
22,596
Social security and other taxes
89,113
91,254
Other creditors
268,495
196,017
---------
---------
377,746
309,867
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
27,237
67,253
--------
--------
10. Other financial commitments
Total financial commitments, guarantees and contingencies which are not included in the Statement of Financial Position amount to £832,000 (2023:£1,040,000). These relate to leases the business has contracted into for public houses, they range from 3 years to 17 years.
11. Related party transactions
No transactions were underaken with related parties such as are required to be disclosed under FRS 102 Section 1A.