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REGISTERED NUMBER: 04842239 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

KERNOW TAVERNS LTD
T/A
THE BOATHOUSE

KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KERNOW TAVERNS LTD
T/A THE BOATHOUSE

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: D J Carless





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04842239 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,750
Tangible assets 5 285,292 302,945
285,292 310,695

CURRENT ASSETS
Stocks 6 12,670 11,301
Debtors 7 180 -
Cash at bank and in hand 177,582 183,823
190,432 195,124
CREDITORS
Amounts falling due within one year 8 129,811 151,635
NET CURRENT ASSETS 60,621 43,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,913

354,184

CREDITORS
Amounts falling due after more than one
year

9

(13,333

)

(23,333

)

PROVISIONS FOR LIABILITIES 10 (8,523 ) (7,947 )
NET ASSETS 324,057 322,904

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 3,000 3,000
Retained earnings 320,057 318,904
SHAREHOLDERS' FUNDS 324,057 322,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

BALANCE SHEET - continued
31ST JULY 2024


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

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 8th April 2025 and were signed by:





D J Carless - Director


KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Kernow Taverns Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

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

Goodwill
The Goodwill was acquired in October 2003 and is amortised over 20 years from 1 August 2004.

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 - 2% on cost
Improvements to property - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 balance sheet date.


KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

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 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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 155,000
AMORTISATION
At 1st August 2023 147,250
Charge for year 7,750
At 31st July 2024 155,000
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 7,750

KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1st August 2023 269,098 121,364 125,619 4,212 520,293
Additions - - 4,982 1,083 6,065
At 31st July 2024 269,098 121,364 130,601 5,295 526,358
DEPRECIATION
At 1st August 2023 37,674 91,670 85,127 2,877 217,348
Charge for year 5,382 5,939 11,369 1,028 23,718
At 31st July 2024 43,056 97,609 96,496 3,905 241,066
NET BOOK VALUE
At 31st July 2024 226,042 23,755 34,105 1,390 285,292
At 31st July 2023 231,424 29,694 40,492 1,335 302,945

6. STOCKS
2024 2023
£    £   
Stocks 12,670 11,301

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 180 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 28,399
Trade creditors 19,893 24,804
Taxation and social security 91,533 88,212
Other creditors 8,385 10,220
129,811 151,635

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,333 23,333

KERNOW TAVERNS LTD (REGISTERED NUMBER: 04842239)
T/A THE BOATHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 8,523 7,947

Deferred
tax
£   
Balance at 1st August 2023 7,947
Charge to Income Statement during year 576
Balance at 31st July 2024 8,523