Company registration number: 12455321
Unaudited financial statements
for the year ended 29 February 2024
for
The Sedgemoor Inn Ltd
Pages for filing with the Registrar
Company registration number: 12455321
The Sedgemoor Inn Ltd
Balance sheet
as at 29 February 2024
29 Feb 24 28 Feb 23
Note £ £ £ £
Fixed assets
Tangible assets 4 11,090 13,222
11,090 13,222
Current assets
Stocks 6,107 4,730
Debtors 19,597 5,333
Prepayments and accrued income 1,821 1,915
Cash at bank and in hand 34,562 25,855
62,087 37,833
Creditors: amounts falling due within one
year
(40,462) (19,066)
Net current assets 21,625 18,767
Total assets less current liabilities 32,715 31,989
Creditors: Amounts falling due after more
than one year
(2,732) (6,808)
NET ASSETS 29,983 25,181
Capital and reserves
Called up share capital 120 120
Profit and loss account 29,863 25,061
TOTAL EQUITY 29,983 25,181
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 29 February 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 12455321
The Sedgemoor Inn Ltd
Balance sheet - continued
as at 29 February 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 2 May 2025 and signed on its behalf by:
Mrs T Billing, Director
2 May 2025
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The Sedgemoor Inn Ltd
Notes to the financial statements
for the year ended 29 February 2024
1 Company information
The Sedgemoor Inn Ltd is a private company registered in England and Wales. Its registered number is 12455321. The company is limited by shares. Its registered office is C/O Ash Grove Accounting Limited, 4 Kenn Road, Bristol, BS21 6EL.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings - 15% straight line
Computer equipment - 20% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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The Sedgemoor Inn Ltd
Notes to the financial statements - continued
for the year ended 29 February 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 4 (2023 - 3).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 March 2023 16,077
Additions 349
At 29 February 2024 16,426
Depreciation
At 1 March 2023 2,855
Charge for year 2,481
At 29 February 2024 5,336
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The Sedgemoor Inn Ltd
Notes to the financial statements - continued
for the year ended 29 February 2024
4 Tangible fixed assets - continued
Net book value
At 29 February 2024 11,090
At 28 February 2023 13,222
If Plant and machinery etc. had not been revalued, the assets would have been included at the following historical cost:
29 Feb 24 28 Feb 23
£ £
Cost 16,426 16,077
Accumulated depreciation 5,336 2,855
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