Registered number
07090114
THE SWAN INN NEWLAND LIMITED
Filleted Accounts
30 November 2024
THE SWAN INN NEWLAND LIMITED
Registered number: 07090114
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 6,685 8,356
Current assets
Stocks 14,029 14,464
Debtors 5 59,073 48,396
Cash at bank and in hand 185,979 154,356
259,081 217,216
Creditors: amounts falling due within one year 6 (70,021) (69,005)
Net current assets 189,060 148,211
Total assets less current liabilities 195,745 156,567
Provisions for liabilities (2,749) (2,749)
Net assets 192,996 153,818
Capital and reserves
Called up share capital 2 2
Profit and loss account 192,994 153,816
Shareholders' funds 192,996 153,818
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Ironmonger
Director
Approved by the board on 30 June 2025
THE SWAN INN NEWLAND LIMITED
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 27
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 15,000
At 30 November 2024 15,000
Amortisation
At 1 December 2023 15,000
At 30 November 2024 15,000
Net book value
At 30 November 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 66,657
At 30 November 2024 66,657
Depreciation
At 1 December 2023 58,301
Charge for the year 1,671
At 30 November 2024 59,972
Net book value
At 30 November 2024 6,685
At 30 November 2023 8,356
5 Debtors 2024 2023
£ £
Other debtors 59,073 48,396
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 21,492 27,097
Taxation and social security costs 46,199 40,648
Other creditors 2,330 1,260
70,021 69,005
7 Other information
THE SWAN INN NEWLAND LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
6 Link Way
Howsell Road
Malvern
Worcestershire
WR14 1UQ
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