REGISTERED NUMBER: 06281245 (England and Wales)

Directors' Report and

Unaudited Financial Statements for the Year Ended 31st December 2024

for

Totemic Inns Limited

Page

Company Information

1

Directors' Report

2

Statement of Income and Retained Earnings

3

Statement of Financial Position

4

Notes to the Financial Statements

6

DIRECTORS:

Mrs L E Rann

Mr N L Dodd

SECRETARY:

Mrs H Briggs

REGISTERED OFFICE:

Kempton House

Kempton Way

Dysart Road

Grantham

NG31 7LE

REGISTERED NUMBER:

06281245 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31st December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of a public house and bed and breakfast.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

Mrs L E Rann

Mr N L Dodd

GOING CONCERN

The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the shareholders and they have confirmed that this support will be available for twelve months from the date of approval of the financial statements.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

APPROVED AND SIGNED ON BEHALF OF THE BOARD:

Mr N L Dodd - Director

25th September 2025

TURNOVER

1,035,283

1,089,346

Cost of sales

(353,500

)

(360,318

)

GROSS PROFIT

681,783

729,028

Administrative expenses

(704,575

)

(700,113

)

OPERATING (LOSS)/PROFIT

(22,792

)

28,915

Interest payable and similar expenses

(4,700

)

(5,449

)

(LOSS)/PROFIT BEFORE TAXATION

(27,492

)

23,466

Tax on (loss)/profit

-

-

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(27,492

)

23,466

Retained earnings at beginning of year

(231,229

)

(254,695

)

RETAINED EARNINGS AT END OF YEAR

(258,721

)

(231,229

)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

37,774

52,791

37,774

52,791

CURRENT ASSETS

Stocks

13,554

16,232

Debtors

6

24,188

30,897

Cash at bank and in hand

44,571

39,912

82,313

87,041

CREDITORS

Amounts falling due within one year

7

(377,808

)

(351,949

)

NET CURRENT LIABILITIES

(295,495

)

(264,908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(257,721

)

(212,117

)

CREDITORS

Amounts falling due after more than one year

8

-

(18,112

)

NET LIABILITIES

(257,721

)

(230,229

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(258,721

)

(231,229

)

SHAREHOLDERS' FUNDS

(257,721

)

(230,229

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2025 and were signed on its behalf by:

Mr N L Dodd - Director

1.	STATUTORY INFORMATION

Totemic Inns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the shareholders and they have confirmed that this support will be available for twelve months from the date of approval of the financial statements.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, was amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer and office equipment

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. 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

Financial assets including trade debtors, are initially recognised at transaction cost which is considered to be fair value and subsequently held at amortised cost. At each statement of financial position date the company assesses whether there is objective evidence that a financial asset has become impaired. Impairment losses are recorded as charges in the income statement and the carrying amount of the financial asset is reduced by establishing an impairment loss provision. Impairment loss provisions are maintained at the level that management deems sufficient to absorb incurred losses. Financial assets are subsequently carried at transaction cost less provision for impairment.

Financial liabilities

Financial liabilities are presented as such in the statement of financial position. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Dividends and distributions relating to equity instruments are debited directly to equity.

Taxation

Current tax, including UK corporation tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Operating leasing commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company make contributions to employees' personal pension schemes which are defined contribution schemes. The annual contributions payable are charged in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

80,408

3,300

83,708

AMORTISATION

At 1st January 2024

and 31st December 2024

80,408

3,300

83,708

NET BOOK VALUE

At 31st December 2024

-

-

-

At 31st December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Computer

Fixtures

and

Plant and

and

Motor

office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

37,359

85,824

39,635

10,903

173,721

Additions

2,067

145

-

-

2,212

Disposals

(440

)

-

-

-

(440

)

At 31st December 2024

38,986

85,969

39,635

10,903

175,493

DEPRECIATION

At 1st January 2024

24,665

75,038

10,528

10,699

120,930

Charge for year

4,725

4,933

7,277

75

17,010

Eliminated on disposal

(221

)

-

-

-

(221

)

At 31st December 2024

29,169

79,971

17,805

10,774

137,719

NET BOOK VALUE

At 31st December 2024

9,817

5,998

21,830

129

37,774

At 31st December 2023

12,694

10,786

29,107

204

52,791

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st January 2024

and 31st December 2024

39,635

DEPRECIATION

At 1st January 2024

10,528

Charge for year

7,277

At 31st December 2024

17,805

NET BOOK VALUE

At 31st December 2024

21,830

At 31st December 2023

29,107

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

6,122

16,876

Other debtors

18,066

13,565

24,188

30,441

Amounts falling due after more than one year:

Other debtors

-

456

Aggregate amounts

24,188

30,897

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

18,111

8,017

Trade creditors

51,218

86,250

Taxation and social security

44,832

54,317

Other creditors

263,647

203,365

377,808

351,949

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

-

18,112

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

£

Net obligations repayable:

Within one year

18,111

8,017

Between one and five years

-

18,112

18,111

26,129

Non-cancellable operating

leases

2024

2023

£

£

Within one year

37,209

37,209

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs L E Rann.