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Registered number: 07206263
Inn Cornwall Limited
Unaudited Financial Statements
For The Year Ended 30 April 2026
Catherine Bennett Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07206263
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,000 1,250
Tangible Assets 5 230,139 227,637
231,139 228,887
CURRENT ASSETS
Stocks 6 37,333 40,878
Debtors 7 49,001 41,847
Cash at bank and in hand 495,308 611,634
581,642 694,359
Creditors: Amounts Falling Due Within One Year 8 (308,463 ) (393,409 )
NET CURRENT ASSETS (LIABILITIES) 273,179 300,950
TOTAL ASSETS LESS CURRENT LIABILITIES 504,318 529,837
PROVISIONS FOR LIABILITIES
Deferred Taxation (59,175 ) (47,730 )
NET ASSETS 445,143 482,107
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 445,043 482,007
SHAREHOLDERS' FUNDS 445,143 482,107
Page 1
Page 2
For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M R Holden
Director
23 September 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Inn Cornwall Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07206263 . The registered office is Wheal Harmony House, Solomon Road, Redruth, TR15 1FD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% straight line
Plant & Machinery 15%, 20% and 33% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 15%, 20% and 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Currency
The presentation currency of the financial statements is the Pound Sterling (£).
3. Average Number of Employees
Average number of employees, including directors, during the year was: 87 (2025: 87)
87 87
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2025 5,000
As at 30 April 2026 5,000
Amortisation
As at 1 May 2025 3,750
Provided during the period 250
As at 30 April 2026 4,000
Net Book Value
As at 30 April 2026 1,000
As at 1 May 2025 1,250
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Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2025 59,128 351,975 4,500 291,454 707,057
Additions - 20,149 53,660 16,473 90,282
Disposals - - - (300 ) (300 )
As at 30 April 2026 59,128 372,124 58,160 307,627 797,039
Depreciation
As at 1 May 2025 29,636 225,308 1,992 222,484 479,420
Provided during the period 7,387 44,575 11,632 24,077 87,671
Disposals - - - (191 ) (191 )
As at 30 April 2026 37,023 269,883 13,624 246,370 566,900
Net Book Value
As at 30 April 2026 22,105 102,241 44,536 61,257 230,139
As at 1 May 2025 29,492 126,667 2,508 68,970 227,637
6. Stocks
2026 2025
£ £
Stock 37,333 40,878
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors - 30,268
Prepayments and accrued income 35,424 4,582
Other debtors 13,577 6,997
49,001 41,847
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 95,489 108,362
Corporation tax - 52,109
Other taxes and social security 20,171 23,524
VAT 126,776 122,101
Other creditors 20,400 201
...CONTINUED
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Pension creditor 1,282 2,508
Accruals and deferred income 25,192 30,489
Directors' loan accounts 19,153 54,115
308,463 393,409
9. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2026 2025
£ £
Not later than one year 172,309 166,699
Later than one year and not later than five years 8,280 16,257
180,589 182,956
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