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COMPANY REGISTRATION NUMBER: 08376026
The Sun Inn Great Easton Limited
Filleted Unaudited Financial Statements
31 March 2024
The Sun Inn Great Easton Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
The Sun Inn Great Easton Limited
Officers and Professional Advisers
Director
Mr R Uppal
Registered office
15 Barnsdale
Great Easton
Market Harborough
Leicestershire
England
LE16 8SG
Accountants
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
The Sun Inn Great Easton Limited
Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of The Sun Inn Great Easton Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Sun Inn Great Easton Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of The Sun Inn Great Easton Limited in accordance with the terms of our engagement letter dated 5 February 2013. Our work has been undertaken solely to prepare for your approval the financial statements of The Sun Inn Great Easton Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Sun Inn Great Easton Limited and its director for our work or for this report.
It is your duty to ensure that The Sun Inn Great Easton Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Sun Inn Great Easton Limited. You consider that The Sun Inn Great Easton Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of The Sun Inn Great Easton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A Plus Accountants Limited Accountants
10 Canberra House Corbygate Business Park Corby Northants NN17 5JG
21 March 2025
The Sun Inn Great Easton Limited
Statement of Financial Position
31 March 2024
2024
2023
(restated)
Note
£
£
£
Fixed assets
Tangible assets
5
812,945
963,877
Current assets
Stocks
11,000
11,000
Debtors
6
675,695
696,037
Cash at bank and in hand
40,923
383
---------
---------
727,618
707,420
Creditors: amounts falling due within one year
7
2,614,596
2,460,559
------------
------------
Net current liabilities
1,886,978
1,753,139
------------
------------
Total assets less current liabilities
( 1,074,033)
( 789,262)
Creditors: amounts falling due after more than one year
8
114,036
147,853
------------
---------
Net liabilities
( 1,188,069)
( 937,115)
------------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 1,188,070)
( 937,116)
------------
---------
Shareholder deficit
( 1,188,069)
( 937,115)
------------
---------
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Sun Inn Great Easton Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mr R Uppal
Director
Company registration number: 08376026
The Sun Inn Great Easton 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 15 Barnsdale, Great Easton, Market Harborough, Leicestershire, LE16 8SG, England.
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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These financial statements have been prepared on the going concern basis, on the understanding that the shareholders will continue to financially support the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation 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:
Freehold property
-
2% straight line
Catering equipment
-
25% straight line
Fixtures, fittings and equipment
-
Straight line at variable rates
Freehold property improvements
-
10% 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
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. 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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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. Particulars of employees
The average number of persons employed by the company during the year amounted to 26 (2023: 33 ).
5. Tangible assets
At 1 April 2023 as restated
Additions
At 31 March 2024
£
£
£
Cost
Freehold property
310,890
310,890
Catering equipment
96,224
10,143
106,367
Fixtures, fittings and equipment
170,982
170,982
Freehold property improvements
1,055,707
1,055,707
------------
--------
------------
1,633,803
10,143
1,643,946
------------
--------
------------
At 1 April 2023 as restated
Charge for the year
At 31 March 2024
£
£
£
Depreciation
Freehold property
62,178
6,218
68,396
Catering equipment
73,001
15,956
88,957
Fixtures, fittings and equipment
133,239
33,652
166,891
Freehold property improvements
401,508
105,249
506,757
------------
---------
---------
669,926
161,075
831,001
------------
---------
---------
At 31 March 2024
At 31 March 2023
£
£
Carrying amount
Freehold property
242,494
248,712
Catering equipment
17,410
23,223
Fixtures, fittings and equipment
4,091
37,743
Freehold property improvements
548,950
654,199
---------
---------
812,945
963,877
---------
---------
6. Debtors
2024
2023
(restated)
£
£
Trade debtors
7
15,462
Amounts owed by group undertakings and undertakings in which the company has a participating interest
227,463
244,362
Other debtors
448,225
436,213
---------
---------
675,695
696,037
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
52,073
77,877
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,938,331
1,889,613
Social security and other taxes
178,806
77,417
Other creditors
435,386
405,652
------------
------------
2,614,596
2,460,559
------------
------------
Included within amounts owed to group undertakings is a balance of £1,889,613 owed to Willoughby (607) Limited. This amount is secured, interest free and repayable on demand. Included within other creditors is a balance of £37,530 owed to Carlsberg UK Limited. This balance is secured on the property known as The Sun, 6 Cross Bank, Market Harborough, LE16 8SR. Included within Carlsberg UK Limited's loan agreement is a minimum purchase order commitment and an exclusive supply obligation along with a personal guarantee from a director.
8. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
11,667
21,667
Other creditors
102,369
126,186
---------
---------
114,036
147,853
---------
---------
Included within other creditors is a balance of £102,369 owed to Carlsberg UK Limited. This balance is secured on the property known as The Sun, 6 Cross Bank, Market Harborough, LE16 8SR. Included within Carlsberg UK Limited's loan agreement is a minimum purchase order commitment and an exclusive supply obligation along with a personal guarantee from a director.
9. Related party transactions
The company has availed itself of the exemption contained within FRS 102 Section 33 Related Party Disclosures not to disclose details of transactions with fellow group entities. Mr R Uppal is also a director of Bybrook Finance Solution Limited, Bybrook Builders Limited, Bybrook 2014 Limited and No.23 (Uppingham) Limited. During the year the Company received advances from Bybrook Finance Solutions of £0 (2023: £6,500). The amount outstanding at the period end included within other creditors is £165,134 (2023: £165,134). This amount is interest free and repayable on demand. During the year the Company received advances from Bybrook Builders Limited of £0 (2023: £21,373). The amount outstanding at the period end included within other creditors is £21,373 (2023: £21,373). This amount is interest free and repayable on demand. During the year the Company received advances from No.23 (Uppingham) Limited of £7,200 (2023: £8,049). The Sun Inn Great Easton Limited repaid £8,201 (2023: £0) in the year. The amount outstanding at the year end included within other creditors is £7,048 (2023: £8,049). This amount is interest free and repayable on demand. During the year the Company advanced funds to Bybrook 2014 Limited of £5,969 (2023: £0). The amount outstanding at the period end included within other debtors is £5,969 (2023: £0). This amount is interest free and repayable on demand.