2023-10-012024-09-302024-09-30false01863542Boat Inn (Stoke Bruerne) 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Boat Inn (Stoke Bruerne) Limited(The)

Registered Number
01863542
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

Boat Inn (Stoke Bruerne) Limited(The)
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

A J Woodward
N J Woodward

Registered Address

The Boat Inn
Stoke Bruerne
Northants
NN12 7SB

Registered Number

01863542 (England and Wales)
Boat Inn (Stoke Bruerne) Limited(The)
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3877,938887,993
877,938887,993
Current assets
Stocks433,00032,768
Debtors57,42618,700
Cash at bank and on hand82,36842,472
122,79493,940
Creditors amounts falling due within one year6(172,688)(154,195)
Net current assets (liabilities)(49,894)(60,255)
Total assets less current liabilities828,044827,738
Creditors amounts falling due after one year7(7,333)(25,030)
Provisions for liabilities8(6,984)(6,540)
Net assets813,727796,168
Capital and reserves
Called up share capital10,00010,000
Share premium151,695151,695
Revaluation reserve551,928551,928
Profit and loss account100,10482,545
Shareholders' funds9813,727796,168
The financial statements were approved and authorised for issue by the Board of Directors on 6 June 2025, and are signed on its behalf by:
A J Woodward
Director
Registered Company No. 01863542
Boat Inn (Stoke Bruerne) Limited(The)
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below. The main area of judgement and estimation uncertainty surrounds the valuation of the property held. For the purpose of these financial statements, the property has been valued by the directors on an open market for existing use basis.
Revenue from rendering of services
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss. 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. Depreciation on other assets is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery6.67
Fixtures and fittings8
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year2926
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 October 23850,000104,28929,615983,904
At 30 September 24850,000104,28929,615983,904
Depreciation and impairment
At 01 October 23-66,29629,61595,911
Charge for year-10,055-10,055
At 30 September 24-76,35129,615105,966
Net book value
At 30 September 24850,00027,938-877,938
At 30 September 23850,00037,993-887,993
The original cost of the property was £292,397. It is not considered that any tax will be payable if the property is sold for the revalued sum stated above.
4.Stocks

2024

2023

££
Other stocks33,00032,768
Total33,00032,768
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables81511,010
Other debtors6,6117,690
Total7,42618,700
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables40,39332,099
Bank borrowings and overdrafts11,00011,000
Taxation and social security46,81835,514
Other creditors74,47775,582
Total172,688154,195
The company’s bankers held fixed and floating charges to secure the lending to the company. The indebtedness to the company’s bankers as at 30 September 2024 was £18,333 (2023 - £29,333). Other creditors includes £49,370 (2023 - £33,978) is secured by a floating charge over the company’s assets.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,33325,030
Total7,33325,030
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,9846,540
Total6,9846,540
9.Revaluation reserve

£
Reserve at 01 October 23551,928
At 30 September 24551,928
10.Related party transactions
Mr N J Woodward, who with his fellow director controls the company, had an interest free loan during the year. The amount owing at 30 September 2024 was £2,900 (2023 - £4,400). The company owed the director, Mr A J Woodward, £10,406 (2023 - £7,422). This loan is interest free and without fixed repayment terms. A director advanced a loan of £100,000 to the company on 1 November 2019. Interest at 5% p.a. is being charged and repayments are being made over 5 years. The outstanding amount at 30 September 2024 was £5,633.