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South Devon Inns Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2024

Registration number: 03857943

 

South Devon Inns Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

South Devon Inns Limited

Balance Sheet

30 November 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

129,666

356,788

Creditors: Amounts falling due within one year

4

(1,141)

(1,740)

Net assets

 

128,525

355,048

Capital and reserves

 

Called up share capital

5

2

2

Profit and loss account

128,523

355,046

Shareholders' funds

 

128,525

355,048

 

South Devon Inns Limited

Balance Sheet

30 November 2024

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

.........................................
M T Eastman
Director

Company Registration Number: 03857943

 

South Devon Inns Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Thorn Villas
Combeinteignhead
Newton Abbot
TQ12 4RD

These financial statements were authorised for issue by the Board on 4 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.

The functional and presentational currency is pounds sterling.

Revenue recognition

The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by thew reprting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

South Devon Inns Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

South Devon Inns Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

140

Accruals and deferred income

1,140

1,600

Other creditors

1

-

1,141

1,740

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

"A" Ordinary shares of £1 each

1

1

1

1

"B" Ordinary shares of £1 each

1

1

1

1

2

2

2

2