REGISTERED NUMBER: |
MILLSTONE COUNTRY INN LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 30 DECEMBER 2023 |
REGISTERED NUMBER: |
MILLSTONE COUNTRY INN LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 30 DECEMBER 2023 |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MILLSTONE COUNTRY INN LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
BALANCE SHEET |
30 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges her 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. |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
BALANCE SHEET - continued |
30 DECEMBER 2023 |
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 |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Millstone Country Inn Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The Company is party to a composite loan in the name of Amazehotels Ltd, covering multiple other Companies, under a joint and several liability arrangement. The Company is reliant on the other companies for financial support in the event it cannot meet its repayment obligations. |
Moving into 2024 the current macro economic conditions, with significant inflationary pressures, have the potential to limit the company's future planned growth and may alter the assessment of its ability to continue as a going concern. |
The director considers it appropriate to prepare the accounts on a going concern basis, however the above events and conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period 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 balance sheet date. |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 30 December 2023 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 31 December 2022 |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 30 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
MILLSTONE COUNTRY INN LTD (REGISTERED NUMBER: 09929447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
A bank loan in the name of Amazehotels Ltd, this company's share of which amounts to £133,489 is secured on the land and buildings held by this company, in addition to which the director has given personal guarantees against. |
10. | CONTINGENT LIABILITIES |
The Company is party to a composite loan in the name of Amazehotels Ltd, covering multiple other Companies, under a joint and several liability arrangement. In the event that one of the other Companies is unable to meet its repayment obligations then the Company may be required to make the shortfall payments. As the amount and nature of these payments is not able to be quantified as at the Balance Sheet date, no provision has been made, rather has been disclosed as a potential contingent liability. |
11. | RELATED PARTY DISCLOSURES |
Included in Other Creditors is £190,837 (2022: £194,665) owed to the director, N Rabani. This loan is interest free and has no formal repayment terms. |