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Company No: 13386104 (England and Wales)

ST TUDY INN LIMITED

Unaudited Financial Statements
For the financial period from 01 February 2023 to 27 June 2024
Pages for filing with the registrar

ST TUDY INN LIMITED

Unaudited Financial Statements

For the financial period from 01 February 2023 to 27 June 2024

Contents

ST TUDY INN LIMITED

BALANCE SHEET

As at 27 June 2024
ST TUDY INN LIMITED

BALANCE SHEET (continued)

As at 27 June 2024
Note 27.06.2024 31.01.2023
£ £
Fixed assets
Tangible assets 3 0 51,084
0 51,084
Current assets
Stocks 4 0 7,408
Debtors 5 58,751 92,435
Cash at bank and in hand 9,084 3,838
67,835 103,681
Creditors: amounts falling due within one year 6 ( 690,011) ( 441,499)
Net current liabilities (622,176) (337,818)
Total assets less current liabilities (622,176) (286,734)
Net liabilities ( 622,176) ( 286,734)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 622,276 ) ( 286,834 )
Total shareholder's deficit ( 622,176) ( 286,734)

For the financial period ending 27 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of St Tudy Inn Limited (registered number: 13386104) were approved and authorised for issue by the Director on 11 August 2025. They were signed on its behalf by:

R M Rowse
Director
ST TUDY INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 February 2023 to 27 June 2024
ST TUDY INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 February 2023 to 27 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

St Tudy Inn Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 St Mary's Arcade, Wallingford, Oxfordshire, OX10 0EY, United Kingdom. The principal place of business is St Tudy Inn, St Tudy, Cornwall, PL30 3NN.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading and the trade and assets of the company comprising the St Tudy Inn were sold on 27 June 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The trade and assets of the company comprising the St Tudy Inn were sold on 27 June 2024. Therefore, this accounting period has been extended up to the date of cessation of the trade, covering the period 1 February 2023 to 27 June 2024. The comparative period is for the year ended 31 January 2023.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery 10 years straight line
Fixtures and fittings 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
01.02.2023 to
27.06.2024
Year ended
31.01.2023
Number Number
Monthly average number of persons employed by the Company during the period, including the director 0 0

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2023 40,870 3,993 13,223 696 58,782
Additions 0 515 3,394 744 4,653
Disposals ( 40,870) ( 4,508) ( 16,617) ( 1,440) ( 63,435)
At 27 June 2024 0 0 0 0 0
Accumulated depreciation
At 01 February 2023 4,627 517 2,322 232 7,698
Charge for the financial period 5,027 607 3,416 618 9,668
Disposals ( 9,654) ( 1,124) ( 5,738) ( 850) ( 17,366)
At 27 June 2024 0 0 0 0 0
Net book value
At 27 June 2024 0 0 0 0 0
At 31 January 2023 36,243 3,476 10,901 464 51,084

4. Stocks

27.06.2024 31.01.2023
£ £
Stocks 0 7,408

5. Debtors

27.06.2024 31.01.2023
£ £
Trade debtors 0 321
Amounts owed by Group undertakings 327 11,264
Other debtors 58,424 80,850
58,751 92,435

6. Creditors: amounts falling due within one year

27.06.2024 31.01.2023
£ £
Trade creditors 23,800 21,966
Amounts owed to Group undertakings 377,503 157,441
Other taxation and social security 14,887 18,892
Other creditors 273,821 243,200
690,011 441,499

7. Called-up share capital

27.06.2024 31.01.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Ultimate controlling party

Parent Company:

The Camel's Back Limited
4 St Mary's Arcade
Wallingford
Oxfordshire
OX10 0EY