77 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 9,006 9,006 9,006 xbrli:pure xbrli:shares iso4217:GBP 03883968 2023-04-01 2024-03-31 03883968 2024-03-31 03883968 2023-03-31 03883968 2022-04-01 2023-03-31 03883968 2023-03-31 03883968 2022-03-31 03883968 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 03883968 core:PlantMachinery 2023-04-01 2024-03-31 03883968 core:FurnitureFittings 2023-04-01 2024-03-31 03883968 bus:Director4 2023-04-01 2024-03-31 03883968 bus:Director5 2023-04-01 2024-03-31 03883968 core:WithinOneYear 2024-03-31 03883968 core:WithinOneYear 2023-03-31 03883968 core:LandBuildings 2023-03-31 03883968 core:PlantMachinery 2023-03-31 03883968 core:FurnitureFittings 2023-03-31 03883968 core:LandBuildings 2024-03-31 03883968 core:PlantMachinery 2024-03-31 03883968 core:FurnitureFittings 2024-03-31 03883968 core:LandBuildings 2023-04-01 2024-03-31 03883968 core:AfterOneYear 2024-03-31 03883968 core:AfterOneYear 2023-03-31 03883968 core:ShareCapital 2024-03-31 03883968 core:ShareCapital 2023-03-31 03883968 core:RetainedEarningsAccumulatedLosses 2024-03-31 03883968 core:RetainedEarningsAccumulatedLosses 2023-03-31 03883968 core:LandBuildings 2023-03-31 03883968 core:PlantMachinery 2023-03-31 03883968 core:FurnitureFittings 2023-03-31 03883968 bus:Director4 2023-03-31 03883968 bus:Director4 2024-03-31 03883968 bus:Director5 2023-03-31 03883968 bus:Director5 2024-03-31 03883968 bus:Director4 2022-03-31 03883968 bus:Director4 2023-03-31 03883968 bus:Director5 2022-03-31 03883968 bus:Director4 2022-04-01 2023-03-31 03883968 bus:Director5 2022-04-01 2023-03-31 03883968 bus:SmallEntities 2023-04-01 2024-03-31 03883968 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03883968 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03883968 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03883968 bus:FullAccounts 2023-04-01 2024-03-31 03883968 core:ToolsEquipment 2023-04-01 2024-03-31 03883968 core:Goodwill 2024-03-31 03883968 core:Goodwill 2023-03-31 03883968 core:ToolsEquipment 2023-03-31 03883968 core:AssetsNotYetAvailableForUsePPE 2023-03-31 03883968 core:AssetsNotYetAvailableForUsePPE 2023-04-01 2024-03-31 03883968 core:ToolsEquipment 2024-03-31 03883968 core:AssetsNotYetAvailableForUsePPE 2024-03-31
COMPANY REGISTRATION NUMBER: 03883968
Paddock Inns Limited
Filleted Unaudited Financial Statements
31 March 2024
Paddock Inns Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
9,006
9,006
Tangible assets
6
180,497
265,136
--------
--------
189,503
274,142
Current assets
Stocks
65,662
90,356
Debtors
7
157,735
135,475
Cash at bank and in hand
1,633,156
1,592,748
-----------
-----------
1,856,553
1,818,579
Creditors: amounts falling due within one year
8
937,595
998,070
-----------
-----------
Net current assets
918,958
820,509
-----------
-----------
Total assets less current liabilities
1,108,461
1,094,651
Creditors: amounts falling due after more than one year
9
122,512
122,594
-----------
-----------
Net assets
985,949
972,057
-----------
-----------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
984,949
971,057
--------
--------
Shareholders funds
985,949
972,057
--------
--------
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 .
Paddock Inns Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 December 2024 , and are signed on behalf of the board by:
Mr LJD Da Conceicao
Mr NL Jordan
Director
Director
Company registration number: 03883968
Paddock Inns Limited
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 Moorings, 1A Dane Road Industrial Estate, Dane Road, Sale, M33 7BH, Cheshire.
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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax. Turnover derives from the provision of goods and the services provided, falling within the company's ordinary activities.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated 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:
Leasehold Property
-
2% straight line
Plant
-
20% straight line
Fixtures & Fittings
-
20% straight line
Equipment
-
20% straight line
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 77 (2023: 77 ).
5. Intangible assets
Intangible assets
£
Cost
At 1 April 2023 and 31 March 2024
9,006
------
Amortisation
At 1 April 2023 and 31 March 2024
------
Carrying amount
At 31 March 2024
9,006
------
At 31 March 2023
9,006
------
6. Tangible assets
Land and buildings
Plant
Fixtures and fittings
Equipment
Assets under construction
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
124,501
558,831
334,991
117,866
4,574
1,140,763
Additions
20,765
32,232
19,202
72,199
--------
--------
--------
--------
-------
-----------
At 31 Mar 2024
124,501
558,831
355,756
150,098
23,776
1,212,962
--------
--------
--------
--------
-------
-----------
Depreciation
At 1 Apr 2023
1,868
514,713
280,014
79,032
875,627
Charge for the year
2,490
105,420
22,464
26,464
156,838
--------
--------
--------
--------
-------
-----------
At 31 Mar 2024
4,358
620,133
302,478
105,496
1,032,465
--------
--------
--------
--------
-------
-----------
Carrying amount
At 31 Mar 2024
120,143
( 61,302)
53,278
44,602
23,776
180,497
--------
--------
--------
--------
-------
-----------
At 31 Mar 2023
122,633
44,118
54,977
38,834
4,574
265,136
--------
--------
--------
--------
-------
-----------
7. Debtors
2024
2023
£
£
Trade debtors
6,079
9,865
Other debtors
151,656
125,610
--------
--------
157,735
135,475
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
50,692
Trade creditors
87,888
124,437
Accruals and deferred income
17,285
14,245
Corporation tax
147,242
112,446
Social security and other taxes
220,847
233,689
Other creditors
404,833
403,061
Other creditors
59,500
59,500
--------
--------
937,595
998,070
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
122,512
122,594
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr LJD Da Conceicao
73,017
62,198
( 74,860)
60,355
Mr NL Jordan
34,947
61,622
( 35,360)
61,209
--------
--------
--------
--------
107,964
123,820
( 110,220)
121,564
--------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr LJD Da Conceicao
76,240
105,857
( 109,080)
73,017
Mr NL Jordan
608,200
110,964
( 684,218)
34,946
--------
--------
--------
--------
684,440
216,821
( 793,298)
107,963
--------
--------
--------
--------