Company registration number 11143968 (England and Wales)
THE HIGHWAYMAN INN (SOURTON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
THE HIGHWAYMAN INN (SOURTON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE HIGHWAYMAN INN (SOURTON) LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,127
5,326
Current assets
Stocks
9,216
7,425
Debtors
4
28,290
12,056
Cash at bank and in hand
3,735
13,028
41,241
32,509
Creditors: amounts falling due within one year
5
(14,405)
(12,942)
Net current assets
26,836
19,567
Total assets less current liabilities
31,963
24,893
Provisions for liabilities
(974)
(1,012)
Net assets
30,989
23,881
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
30,889
23,781
Total equity
30,989
23,881
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 member has 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 25 July 2025 and are signed on its behalf by:
Mrs S Thomson
Mr B D Thomson
Director
Director
Company registration number 11143968 (England and Wales)
THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information
The Highwayman Inn (Sourton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
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 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.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% per annum on net book value
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
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
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.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2024 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
10,498
Additions
1,074
Disposals
(146)
At 31 January 2025
11,426
Depreciation and impairment
At 1 February 2024
5,172
Depreciation charged in the year
1,181
Eliminated in respect of disposals
(54)
At 31 January 2025
6,299
Carrying amount
At 31 January 2025
5,127
At 31 January 2024
5,326
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,181
Other debtors
27,109
12,056
28,290
12,056
THE HIGHWAYMAN INN (SOURTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,137
1,132
Taxation and social security
7,742
3,518
Other creditors
5,526
8,292
14,405
12,942
6
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
2.25
11,802
53,315
524
(38,799)
26,842
11,802
53,315
524
(38,799)
26,842
The loan to the directors was unsecured and repayable on demand.