Company Registration No. 05813221 (England and Wales)
Cheswick Inns Limited
Unaudited accounts
for the year ended 30 May 2024
Cheswick Inns Limited
Unaudited accounts
Contents
Cheswick Inns Limited
Company Information
for the year ended 30 May 2024
Company Number
05813221 (England and Wales)
Registered Office
Unit 7&8 The Chandlery
Quayside
Berwick Upon Tweed
TD15 1HE
Cheswick Inns Limited
Statement of financial position
as at 30 May 2024
Intangible assets
3,518
5,400
Tangible assets
11,801
13,798
Cash at bank and in hand
1,436
20,220
Creditors: amounts falling due within one year
(237,859)
(189,049)
Net current liabilities
(213,293)
(149,386)
Total assets less current liabilities
(197,974)
(130,188)
Creditors: amounts falling due after more than one year
(15,417)
(25,171)
Net liabilities
(213,391)
(155,359)
Called up share capital
100
100
Profit and loss account
(213,491)
(155,459)
Shareholders' funds
(213,391)
(155,359)
For the year ending 30 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 January 2025 and were signed on its behalf by
Keith F Steven
Director
Company Registration No. 05813221
Cheswick Inns Limited
Notes to the Accounts
for the year ended 30 May 2024
Cheswick Inns Limited is a private company, limited by shares, registered in England and Wales, registration number 05813221. The registered office is Unit 7&8 The Chandlery, Quayside, Berwick Upon Tweed, TD15 1HE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and on a going concern basis as the directors are confident that the company will be able to meet it's liabilities as they fall due.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
During the year the Company incurred significant costs of repairs and renewals of equipment including completely replacing the mains gas supply which supplies the kitchen and hot water systems. This supply failed and was condemned leading to loss of power and sales turnover.
4
Intangible fixed assets
Goodwill
Other
Total
At 31 May 2023
13,182
3,809
16,991
At 30 May 2024
13,182
3,809
16,991
At 31 May 2023
10,939
652
11,591
Charge for the year
1,120
762
1,882
At 30 May 2024
12,059
1,414
13,473
At 30 May 2024
1,123
2,395
3,518
At 30 May 2023
2,243
3,157
5,400
Cheswick Inns Limited
Notes to the Accounts
for the year ended 30 May 2024
5
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Accrued income and prepayments
3,225
3,906
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
68,124
43,503
Trade creditors
36,604
49,546
Amounts owed to group undertakings and other participating interests
47,670
35,321
Taxes and social security
14,789
6,293
Other creditors
21,205
20,192
Loans from directors
11,542
-
Deferred income
3,156
3,758
8
Creditors: amounts falling due after more than one year
2024
2023
Cheswick Inns Limited
Notes to the Accounts
for the year ended 30 May 2024
9
Post balance sheet events
In 2021-22 the Director engaged the services of a claims management firm to pursue a business interruption insurance claim for loss of gross profit against the company's insurers during the Covid lock Down period. No payment has been made by the Insurers to the Company.
A substantial claim, in excess of 6 figures has been costed in 2024-25 financial year and had been prepared by loss assessors and the claim continues to be pursued. Recent case law in July 2024 resulted in a defeat for the company's previous insurers and other insurance companies. A further Court of Appeal case is due to be heard in January 2025 which may delay the BII repayment until judgement is issued. The Directors and our claims management firm believe that payout of the claim will be agreed in the financial year 2024-25,
10
Average number of employees
During the year the average number of employees was 21 (2023: 20).