Ship Inn Pentewan Ltd Filleted Accounts Cover
Ship Inn Pentewan Ltd
Company No. 13802634
Information for Filing with The Registrar
31 December 2024
Ship Inn Pentewan Ltd Balance Sheet Registrar
at
31 December 2024
Company No.
13802634
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
33,01935,554
33,01935,554
Current assets
Stocks
5
7,8008,400
Debtors
6
6,1556,189
Cash at bank and in hand
123,614173,178
137,569187,767
Creditors: Amount falling due within one year
7
(94,592)
(112,191)
Net current assets
42,97775,576
Total assets less current liabilities
75,996111,130
Provisions for liabilities
Deferred taxation
(8,254)
(8,888)
Net assets
67,742102,242
Capital and reserves
Called up share capital
22
Profit and loss account
9
67,740102,240
Total equity
67,742102,242
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 02 April 2025 and signed on its behalf by:
R.D. Brewer
Director
02 April 2025
Ship Inn Pentewan Ltd Notes to the Accounts Registrar
for the year ended 31 December 2024
1
General information
Ship Inn Pentewan Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 13802634
Its registered office is:
24 Victoria Road
St Austell
PL25 4QD
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of bar, food, and accommodation sales net of discounts and value added taxes, and is recognised at the time of sale.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
15-33% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock is recognised as an
expense in the period in which the revenue is recognised.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
2020
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 January 2024
48,48548,485
Additions
5,5995,599
At 31 December 2024
54,08454,084
Depreciation
At 1 January 2024
12,93112,931
Charge for the year
8,1348,134
At 31 December 2024
21,06521,065
Net book values
At 31 December 2024
33,01933,019
At 31 December 2023
35,554
35,554
5
Stocks
2024
2023
£
£
Finished goods
7,8008,400
7,8008,400
6
Debtors
2024
2023
£
£
Other debtors
5,0095,004
Prepayments and accrued income
1,1461,185
6,1556,189
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
539321
Trade creditors
25,19825,986
Taxes and social security
27,945
43,209
Loans from directors
20324,434
Other creditors
20,78916,570
Accruals and deferred income
19,9181,671
94,592112,191
8
Share Capital
2 £1 ordinary shares fully paid.
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Guarantees and commitments
2024
2023
£
£
Total of guarantees and commitments
33,07531,500
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