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COMPANY REGISTRATION NUMBER: 14702413
Bunessan Inn Limited
Filleted Unaudited Financial Statements
31 March 2024
Bunessan Inn Limited
Financial Statements
Period from 3 March 2023 to 31 March 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Bunessan Inn Limited
Balance Sheet
31 March 2024
31 Mar 24
Note
£
£
Fixed assets
Tangible assets
5
132,819
Current assets
Stocks
5,855
Debtors
6
11,410
Cash at bank and in hand
4,074
--------
21,339
Creditors: amounts falling due within one year
7
273,607
---------
Net current liabilities
252,268
---------
Total assets less current liabilities
( 119,449)
---------
Net liabilities
( 119,449)
---------
Bunessan Inn Limited
Balance Sheet (continued)
31 March 2024
31 Mar 24
Note
£
£
Capital and reserves
Called up share capital
100
Profit and loss account
( 119,549)
---------
Shareholders deficit
( 119,449)
---------
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 profit and loss account has not been delivered.
For the period 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 period 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 .
These financial statements were approved by the board of directors and authorised for issue on 20 December 2024 , and are signed on behalf of the board by:
Mrs A M Moore
Director
Company registration number: 14702413
Bunessan Inn Limited
Notes to the Financial Statements
Period from 3 March 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
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 and in sterling, which is the functional currency of the entity.
Going concern
The directors acknowledge the losses during the year, and believe that with their continued support the company to be a going concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Short leasehold property
-
10% straight line
Plant and machinery
-
30% reducing balance
Fixtures and fittings
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the period amounted to 8 .
5. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 3 March 2023
Additions
128,304
2,560
20,736
151,600
---------
-------
--------
---------
At 31 March 2024
128,304
2,560
20,736
151,600
---------
-------
--------
---------
Depreciation
At 3 March 2023
Charge for the period
12,830
767
5,184
18,781
---------
-------
--------
---------
At 31 March 2024
12,830
767
5,184
18,781
---------
-------
--------
---------
Carrying amount
At 31 March 2024
115,474
1,793
15,552
132,819
---------
-------
--------
---------
6. Debtors
31 Mar 24
£
Trade debtors
2,863
Other debtors
8,547
--------
11,410
--------
7. Creditors: amounts falling due within one year
31 Mar 24
£
Trade creditors
42,650
Social security and other taxes
561
Other creditors
230,396
---------
273,607
---------
8. Directors' advances, credits and guarantees
During the period, the directors had interest-free, repayable on demand loans with the company. At the end of the period the directors were owed £221,616.