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Registered number: 04464339
Fat Cat Inns Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Richard Day Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04464339
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,373,969 1,349,791
Investment Properties 6 250,000 180,000
Investments 7 82,110 65,385
1,706,079 1,595,176
CURRENT ASSETS
Stocks 8 49,447 44,322
Debtors 9 24,600 16,088
Cash at bank and in hand 305,353 425,729
379,400 486,139
Creditors: Amounts Falling Due Within One Year 10 (179,089 ) (188,528 )
NET CURRENT ASSETS (LIABILITIES) 200,311 297,611
TOTAL ASSETS LESS CURRENT LIABILITIES 1,906,390 1,892,787
Creditors: Amounts Falling Due After More Than One Year 11 (601,902 ) (688,088 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (27,039 ) (11,970 )
NET ASSETS 1,277,449 1,192,729
CAPITAL AND RESERVES
Called up share capital 13 100 100
Revaluation reserve 52,500 -
Profit and Loss Account 1,224,849 1,192,629
SHAREHOLDERS' FUNDS 1,277,449 1,192,729
Page 1
Page 2
For the year ending 30 June 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Colin Keatley
Director
Mr William Keatley
Director
30/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fat Cat Inns Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04464339 . The registered office is The Cottage, 87 Yarmouth Road, Norwich, NR7 0HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 400,000
As at 30 June 2024 400,000
Amortisation
As at 1 July 2023 400,000
As at 30 June 2024 400,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 July 2023 1,494,163 33,000 152,177 1,679,340
Additions 52,618 - 5,293 57,911
Disposals - - (3,600 ) (3,600 )
As at 30 June 2024 1,546,781 33,000 153,870 1,733,651
Depreciation
As at 1 July 2023 192,251 15,426 121,872 329,549
Provided during the period 23,863 4,393 5,477 33,733
Disposals - - (3,600 ) (3,600 )
As at 30 June 2024 216,114 19,819 123,749 359,682
Net Book Value
As at 30 June 2024 1,330,667 13,181 30,121 1,373,969
As at 1 July 2023 1,301,912 17,574 30,305 1,349,791
Page 4
Page 5
6. Investment Property
2024
£
Fair Value
As at 1 July 2023 180,000
Revaluations 70,000
As at 30 June 2024 250,000
7. Investments
Listed
£
Cost
As at 1 July 2023 65,385
Revaluations 16,725
As at 30 June 2024 82,110
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 82,110
As at 1 July 2023 65,385
8. Stocks
2024 2023
£ £
Stock 49,447 44,322
9. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,489 16,040
Prepayments and accrued income 467 48
Other debtors 644 -
24,600 16,088
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Page 6
10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,995 40,027
Bank loans and overdrafts 40,000 40,000
Corporation tax 44,476 54,691
Other taxes and social security 10,349 2,405
VAT 42,208 41,411
Other creditors 7,081 4,496
Accruals and deferred income 1,980 1,480
Directors' loan accounts - 4,018
179,089 188,528
11. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 601,902 688,088
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 441,902 528,088
12. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 641,902 728,088
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6