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Company registration number: 12060530
The Wheatsheaf Inn (Carperby) Limited
Unaudited filleted financial statements
31 March 2025
The Wheatsheaf Inn (Carperby) Limited
Contents
Statement of financial position
Notes to the financial statements
The Wheatsheaf Inn (Carperby) Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 5 - 3,200
Tangible assets 6 21,768 25,611
_______ _______
21,768 28,811
Current assets
Stocks 10,000 9,700
Debtors 7 7,341 291
Cash at bank and in hand 163,605 203,899
_______ _______
180,946 213,890
Creditors: amounts falling due
within one year 8 ( 96,433) ( 100,020)
_______ _______
Net current assets 84,513 113,870
_______ _______
Total assets less current liabilities 106,281 142,681
Provisions for liabilities ( 5,442) ( 6,403)
_______ _______
Net assets 100,839 136,278
_______ _______
Capital and reserves
Called up share capital 102 102
Profit and loss account 100,737 136,176
_______ _______
Shareholders funds 100,839 136,278
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mrs Claire Boulton-Lear
Director
Company registration number: 12060530
The Wheatsheaf Inn (Carperby) Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Wheatsheaf Inn, Main Street, Carperby, Leyburn, North Yorkshire, DL8 4DF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the services rendered, net of discounts and Value Added Tax.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingl. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2024: 25 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2024 and 31 March 2025 48,000 48,000
_______ _______
Amortisation
At 1 April 2024 44,800 44,800
Charge for the year 3,200 3,200
_______ _______
At 31 March 2025 48,000 48,000
_______ _______
Carrying amount
At 31 March 2025 - -
_______ _______
At 31 March 2024 3,200 3,200
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2024 and 31 March 2025 41,300 41,300
_______ _______
Depreciation
At 1 April 2024 15,689 15,689
Charge for the year 3,843 3,843
_______ _______
At 31 March 2025 19,532 19,532
_______ _______
Carrying amount
At 31 March 2025 21,768 21,768
_______ _______
At 31 March 2024 25,611 25,611
_______ _______
7. Debtors
2025 2024
£ £
Other debtors 7,341 291
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 7,168 5,669
Corporation tax 50,894 52,851
Social security and other taxes 35,945 35,748
Other creditors 2,426 5,752
_______ _______
96,433 100,020
_______ _______