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Registered number: 10002976
















THATCHERS RAILWAY INN LIMITED



FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024


































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THATCHERS RAILWAY INN LIMITED
REGISTERED NUMBER:10002976

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
219,563
240,951

  
219,563
240,951

CURRENT ASSETS
  

Stocks
 5 
23,471
17,566

Debtors: amounts falling due within one year
 6 
166,117
239,865

Cash at bank and in hand
  
22,366
16,050

  
211,954
273,481

Creditors: amounts falling due within one year
 7 
(721,220)
(645,554)

NET CURRENT LIABILITIES
  
 
 
(509,266)
 
 
(372,073)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(289,703)
(131,122)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(4,516)
(7,326)

NET LIABILITIES
  
(294,219)
(138,448)


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
(294,220)
(138,449)

  
(294,219)
(138,448)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr M Thatcher
Director

Date: 20 May 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

Thatchers Railway Inn Limited is a company limited by shares incorporated in England and Wales. The registered office is Myrtle Farm, Sandford, Winscombe, Somerset, BS25 5RA.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Thatchers Myrtle Farm Limited  as at 31 August 2024 and these financial statements may be obtained from Myrtle Farm, Station Road, Sandford, Winscombe, BS25 5RA. .

 
2.3

GOING CONCERN

At the period end the company had net current liabilities of £509,266 (2023: £372,073).
Included within creditors falling due within one year is £552,049 (2023: £477,044) due to other group companies. The directors of the ultimate parent company of the group have confirmed that repayment of these balances will not be sought if it is detrimental to the company's ability to continue as a going concern. Furthermore they have confirmed that further financial support will be available to the company as required. Therefore, the directors consider that there is no material uncertainty over the ability of the company to adopt the going concern basis of preparation of the financial statements.
 

Page 2


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 3


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (continued)

 
2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

Page 4


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (continued)

 
2.12

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 41 (2023: 41).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



COST OR VALUATION


At 1 September 2023
645,383
68,000
713,383


Additions
32,405
-
32,405



At 31 August 2024

677,788
68,000
745,788



DEPRECIATION


At 1 September 2023
459,493
12,939
472,432


Charge for the year on owned assets
39,798
13,995
53,793



At 31 August 2024

499,291
26,934
526,225



NET BOOK VALUE



At 31 August 2024
178,497
41,066
219,563



At 31 August 2023
185,890
55,061
240,951

Page 5


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


STOCKS

2024
2023
£
£

Raw materials and consumables
23,471
17,566

23,471
17,566



6.


DEBTORS

2024
2023
£
£


Trade debtors
315
749

Amounts owed by group undertakings
146,089
214,852

Prepayments and accrued income
19,713
24,264

166,117
239,865


Amounts owed by group undertakings are unsecured and repayable on demand. 


7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Amounts owed to group undertakings
552,049
477,044

Corporation tax
-
3,348

Other taxation and social security
104,895
83,717

Other creditors
4,849
4,314

Accruals and deferred income
59,427
77,131

721,220
645,554


Amounts owed to group undertakings are unsecured and repayable on demand. 

Page 6


THATCHERS RAILWAY INN LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


DEFERRED TAXATION




2024


£






At beginning of year
(7,326)


Charged to profit or loss
2,810



AT END OF YEAR
(4,516)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(4,934)
(7,861)

Short term timing differences
418
535

(4,516)
(7,326)


9.


RELATED PARTY TRANSACTIONS

The company is a wholly owned subsidiary of Thatchers (Myrtle Farm) Limited, and as such has taken advantage of the exemption contained in FRS 102 33.1A not to disclose transactions entered into between two or more members of a wholly owned group.


10.


CONTROLLING PARTY

The immediate and ultimate controlling parent undertaking is Thatchers (Myrtle Farm) Limited whose registered office is Myrtle Farm, Sandford, Winscombe, BS25 5RA. Thatchers (Myrtle Farm) Limited produces the smallest and largest consolidated financial statements that include the results and balances of the company. The consolidated financial statements may be obtained from Companies House, Crown Way, Cardiff, CG14 3UZ. The ultimate controlling party is the directors of Thatchers (Myrtle Farm) Limited, who jointly own 100% of the share capital of the company.


11.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 August 2024 was unqualified.

The audit report was signed on 21 May 2025 by Ria Burridge FCCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

Page 7