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REGISTERED NUMBER: 06597420 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 MARCH 2024

FOR

HOLY CROSS INNS LIMITED

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 MARCH 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


HOLY CROSS INNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 27 MARCH 2024







DIRECTOR: Mr Patrick Joseph Ryan





REGISTERED OFFICE: 13 Dudley Gardens
Ealing
London
W13 9LU





REGISTERED NUMBER: 06597420 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

ABRIDGED STATEMENT OF FINANCIAL POSITION
27 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,265,671 1,277,712

CURRENT ASSETS
Stocks - 11,550
Debtors 6 298,835 311,030
Cash at bank and in hand 393,469 293,111
692,304 615,691
CREDITORS
Amounts falling due within one year 178,154 140,599
NET CURRENT ASSETS 514,150 475,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,779,821

1,752,804

CREDITORS
Amounts falling due after more than one year (529,716 ) (486,948 )

PROVISIONS FOR LIABILITIES 9 (72,326 ) (76,338 )
NET ASSETS 1,177,779 1,189,518

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 166,747 166,747
Retained earnings 1,011,031 1,022,770
SHAREHOLDERS' FUNDS 1,177,779 1,189,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
27 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 27 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





Mr Patrick Joseph Ryan - Director


HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 MARCH 2024


1. STATUTORY INFORMATION

Holy Cross Inns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Leasehold property - Over the term of lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Depreciation is not provided in respect of land and building. Leasehold properties are not amortised where the unexpired term is over twenty years.

The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 MARCH 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 9 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 28 March 2023 1,503,943
Additions 6,656
At 27 March 2024 1,510,599
DEPRECIATION
At 28 March 2023 226,231
Charge for year 18,697
At 27 March 2024 244,928
NET BOOK VALUE
At 27 March 2024 1,265,671
At 27 March 2023 1,277,712

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 27 March 2024 is represented by:

Totals
£   
Valuation in 2017 222,329
Cost 1,288,270
1,510,599

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 975,193 968,537

Freehold property was valued on a fair value basis on 21 December 2017 by the director .

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 298,000 310,000

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,183 9,929

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,440 10,182

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,626 13,091

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 MARCH 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 23,249 33,202

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 16,744 20,756
Gain on freehold property 55,582 55,582
72,326 76,338

Deferred
tax
£   
Balance at 28 March 2023 76,338
Accelerated capital allowances
decrease (4,012 )
Balance at 27 March 2024 72,326

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Revaluation
reserve
£   
At 28 March 2023
and 27 March 2024 166,747

Fair value reserve is non-distributable.

HOLY CROSS INNS LIMITED (REGISTERED NUMBER: 06597420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 MARCH 2024


12. RELATED PARTY DISCLOSURES

Cormackstown Properties Limited

Cormackstown Properties Limited is a company incorporated in the United Kingdom in which Patrick Joseph Ryan is a director and 100% shareholder. At the balance sheet date the amount owned by Cormackstown Properties Limited to the company is £298,000 (2023 £310,000).

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Patrick Joseph Ryan.

He is the sole director and shareholder and is considered to be the ultimate controlling party by virtue of the fact that he owns 100% of the issued share capital.