REGISTERED NUMBER: 01227541 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NORTH WOLD INNS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Langley

Mr S W Lunt

SECRETARY:

Mr S W Lunt

REGISTERED OFFICE:

Waterside Road

Beverley

East Yorkshire

HU17 0ST

REGISTERED NUMBER:

01227541 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

484,166

477,457

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

5

798,603

798,480

Cash at bank and in hand

82,871

65,720

886,474

869,200

CREDITORS

Amounts falling due within one year

6

1,028,660

1,064,339

NET CURRENT LIABILITIES

(142,186

)

(195,139

)

TOTAL ASSETS LESS CURRENT LIABILITIES

341,980

282,318

CREDITORS

Amounts falling due after more than one year

7

(3,092

)

(13,092

)

PROVISIONS FOR LIABILITIES

(4,667

)

(3,238

)

NET ASSETS

334,221

265,988

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

9

305,095

305,095

Retained earnings

19,126

(49,107

)

SHAREHOLDERS' FUNDS

334,221

265,988

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

Mr A Langley - Director

Mr S W Lunt - Director

1.	STATUTORY INFORMATION

North Wold Inns Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office at Waterside Road, Beverley, HU17 0ST.

The principal activity of the company is that of a public house.

The presentational currency of the financial statements is 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 as modified by the revaluation of certain assets.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.3% on cost, 25% on cost, 20% on cost and 10% on cost

Assets that are depreciated to their full residual value are not depreciated further.

Land and buildings are measured under the revaluation model with changes in fair value recognised in other comprehensive income.

Other tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. 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. Stock is calculated on the first in first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

381,761

342,578

724,339

Additions

-

16,519

16,519

Disposals

-

(3,910

)

(3,910

)

At 31 December 2024

381,761

355,187

736,948

DEPRECIATION

At 1 January 2024

-

246,882

246,882

Charge for year

-

9,810

9,810

Eliminated on disposal

-

(3,910

)

(3,910

)

At 31 December 2024

-

252,782

252,782

NET BOOK VALUE

At 31 December 2024

381,761

102,405

484,166

At 31 December 2023

381,761

95,696

477,457

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2004

305,095

-

305,095

Cost

76,666

355,187

431,853

381,761

355,187

736,948

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

796,011

796,011

Other debtors

2,592

2,469

798,603

798,480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

38,322

40,787

Taxation and social security

52,772

38,268

Other creditors

927,566

975,284

1,028,660

1,064,339

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

3,092

13,092

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

13,092

23,092

The loan is secured by fixed and floating charges over all property and assets, uncalled capital, debtors and cash at bank, both present and future.

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

305,095

10.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £6,270 (2023: £8,250).

11.	ULTIMATE PARENT UNDERTAKING

The company's ultimate parent undertaking at the balance sheet date was Coolspec Limited, a company registered in England and Wales.