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Registration number: 11002971

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Company Information

Directors

L J Main

M Kitchen

M Davis

L E Cairney

Registered office

Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

Accountants

Carter Nicholls Ltd Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

(Registration number: 11002971)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,279,613

1,287,404

Current assets

 

Stocks

5

8,662

5,614

Debtors

6

6,811

20,813

Cash at bank and in hand

 

52,326

26,575

 

67,799

53,002

Creditors: Amounts falling due within one year

7

(63,039)

(58,403)

Net current assets/(liabilities)

 

4,760

(5,401)

Total assets less current liabilities

 

1,284,373

1,282,003

Creditors: Amounts falling due after more than one year

7

(116,203)

(127,586)

Net assets

 

1,168,170

1,154,417

Capital and reserves

 

Called up share capital

14,164

14,164

Share premium reserve

1,392,338

1,392,338

Retained earnings

(238,332)

(252,085)

Shareholders' funds

 

1,168,170

1,154,417

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 June 2025 and signed on its behalf by:
 

.........................................
M Kitchen
Director

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS
United Kingdom

These financial statements were authorised for issue by the Board on 28 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives. Depreciation has not been charged during periods of enforced closure.
Rates are as follows:

Asset class

Depreciation method and rate

Kitchen equipment

15% reducing balance

Furniture and fittings

8% reducing balance

Computer equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2024 - 30).

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

1,193,425

86,617

89,226

1,369,268

Additions

-

2,556

371

2,927

At 31 March 2025

1,193,425

89,173

89,597

1,372,195

Depreciation

At 1 April 2024

-

30,349

51,515

81,864

Charge for the year

-

5,005

5,713

10,718

At 31 March 2025

-

35,354

57,228

92,582

Carrying amount

At 31 March 2025

1,193,425

53,819

32,369

1,279,613

At 31 March 2024

1,193,425

56,268

37,711

1,287,404

Included within the net book value of land and buildings above is £1,193,425 (2024 - £1,193,425) in respect of freehold land and buildings.
 

5

Stocks

2025
£

2024
£

Other inventories

8,662

5,614

6

Debtors

Current

2025
£

2024
£

Trade debtors

1,529

15,300

Prepayments

5,282

5,513

 

6,811

20,813

 

Enterprising Limpsfield Limited

trading as The Bull at Limpsfield

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

5,100

5,080

Trade creditors

 

18,681

16,049

Taxation and social security

 

31,319

27,631

Accruals and deferred income

 

7,462

9,062

Other creditors

 

477

581

 

63,039

58,403

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

116,203

127,586

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

25,703

31,086

Other borrowings

90,500

96,500

116,203

127,586

Other borrowings

The carrying amount of hire purchase at year end is £Nil (2024 - £Nil).