BLACK BULL HOTEL MOFFAT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
Company registration number 10470571 (England and Wales)
PAGES FOR FILING WITH REGISTRAR
BLACK BULL HOTEL MOFFAT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BLACK BULL HOTEL MOFFAT LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
702,495
708,149
Current assets
Stocks
4,500
3,295
Debtors
5
9,788
6,254
Cash at bank and in hand
125,089
136,307
139,377
145,856
Creditors: amounts falling due within one year
6
(40,832)
(38,902)
Net current assets
98,545
106,954
Total assets less current liabilities
801,040
815,103
Creditors: amounts falling due after more than one year
7
(863,940)
(926,738)
Net liabilities
(62,900)
(111,635)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(63,000)
(111,735)
Total equity
(62,900)
(111,635)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Mrs Jane Seaton
Director
Company registration number 10470571 (England and Wales)
BLACK BULL HOTEL MOFFAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information
Black Bull Hotel Moffat Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Hall, 4 Imperial Buildings, Durham Road, Houghton le Spring, Tyne and Wear, DH4 4DJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is substantially funded by a loan from its director and shareholder, which has been deferred in favour of all other liabilities. The director therefore considers that it is appropriate to prepare the financial statements on the going concern basis.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property
Not depreciated
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
BLACK BULL HOTEL MOFFAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BLACK BULL HOTEL MOFFAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
19
25
BLACK BULL HOTEL MOFFAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
659,418
157,813
817,231
Additions
4,916
4,916
At 31 January 2025
659,418
162,729
822,147
Depreciation and impairment
At 1 February 2024
109,082
109,082
Depreciation charged in the year
10,570
10,570
At 31 January 2025
119,652
119,652
Carrying amount
At 31 January 2025
659,418
43,077
702,495
At 31 January 2024
659,418
48,731
708,149
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
9,788
6,254
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,253
10,253
Trade creditors
24,046
23,560
Taxation and social security
(296)
1,499
Other creditors
6,829
3,590
40,832
38,902
BLACK BULL HOTEL MOFFAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
51,362
61,615
Other creditors
812,578
865,123
863,940
926,738
The total bank borrowings of £61,615 (2024 £71,868) are secured over the whole of the company's assets.
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
6,899
17,152
8
Related party transactions
2025
2024
Amounts due to related parties
£
£
Key management personnel
812,578
865,123
The above amount owed to the director is included within "Other creditors". It does not bear interest and has no fixed terms for repayment.