Company registration number 9974514 (England and Wales)
SUN INN PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SUN INN PROPERTIES LIMITED
COMPANY INFORMATION
Directors
A R Welch
J Young
P J Grant
Secretary
P J Grant
Company number
9974514
Registered office
Dearneside Fabrications
Trafalgar Works
Wallace Road
Sheffield
United Kingdom
S3 9SR
Accountants
Xeinadin
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU
SUN INN PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SUN INN PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,908,030
1,997,489
Investment property
4
518,818
484,729
2,426,848
2,482,218
Current assets
Stocks
29,404
32,323
Debtors
5
11,957
27,009
Cash at bank and in hand
193,775
123,995
235,136
183,327
Creditors: amounts falling due within one year
6
(199,371)
(228,892)
Net current assets/(liabilities)
35,765
(45,565)
Total assets less current liabilities
2,462,613
2,436,653
Creditors: amounts falling due after more than one year
7
(1,733,625)
(1,788,283)
Provisions for liabilities
(71,230)
(82,394)
Net assets
657,758
565,976
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
657,658
565,876
Total equity
657,758
565,976
SUN INN PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 8 July 2025 and are signed on its behalf by:
J Young
Director
Company registration number 9974514 (England and Wales)
SUN INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Sun Inn Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dearneside Fabrications, Trafalgar Works, Wallace Road, Sheffield, United Kingdom, S3 9SR.
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
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
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 land and buildings
15% on reducing balance and 2% on cost
Plant and equipment
20% on reducing balance and 20% on cost
Fixtures and fittings
20% on 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.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
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
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SUN INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
As lessor
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
32
37
SUN INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
1,805,045
751,620
2,556,665
Additions
8,735
8,735
Disposals
(34,089)
(19,377)
(53,466)
At 31 March 2025
1,770,956
740,978
2,511,934
Depreciation and impairment
At 1 April 2024
174,237
384,939
559,176
Depreciation charged in the year
30,946
32,464
63,410
Eliminated in respect of disposals
(18,682)
(18,682)
At 31 March 2025
205,183
398,721
603,904
Carrying amount
At 31 March 2025
1,565,773
342,257
1,908,030
At 31 March 2024
1,630,808
366,681
1,997,489
4
Investment property
2025
£
Fair value
At 1 April 2024
484,729
Additions
34,089
At 31 March 2025
518,818
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,930
22,293
Other debtors
5,027
4,716
11,957
27,009
SUN INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
35,627
39,204
Taxation and social security
111,504
80,064
Other creditors
52,240
109,624
199,371
228,892
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
1,733,625
1,788,283