| The Ship Inn (Lindisfarne) Limited |
| Registered number: |
04744858 |
| Balance Sheet |
| as at 31 October 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
108,263 |
|
|
120,364 |
|
| Current assets |
| Stocks |
|
|
22,900 |
|
|
27,111 |
| Debtors |
4 |
|
24,028 |
|
|
2,100 |
| Cash at bank and in hand |
|
|
174,646 |
|
|
108,423 |
|
|
|
221,574 |
|
|
137,634 |
|
| Creditors: amounts falling due within one year |
5 |
|
(162,964) |
|
|
(174,855) |
|
| Net current assets/(liabilities) |
|
|
|
58,610 |
|
|
(37,221) |
|
| Total assets less current liabilities |
|
|
|
166,873 |
|
|
83,143 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(75,121) |
|
|
(85,105) |
|
| Provisions for liabilities |
|
|
|
(2,375) |
|
|
(4,117) |
|
|
| Net assets/(liabilities) |
|
|
|
89,377 |
|
|
(6,079) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
89,373 |
|
|
(6,083) |
|
| Shareholders' funds |
|
|
|
89,377 |
|
|
(6,079) |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| AP Hnat |
| Director |
| Approved by the board on 28 July 2022 |
|
| The Ship Inn (Lindisfarne) Limited |
| Notes to the Accounts |
| for the year ended 31 October 2021 |
|
|
| 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. |
|
|
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 |
25% reducing balance |
|
Land and buildings |
2% straight line |
|
|
Government grants |
|
Government grants in respect of capital purchases are recognised in the profit or loss account on a systematic basis over the periods in which the company recognises expenses for the related costs for which the grants are intended to compensate. Revenue-based grants are recognised immediately following fulfilment of any performance based conditions. |
|
|
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. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
10 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 November 2020 |
58,054 |
|
165,277 |
|
223,331 |
|
Additions |
710 |
|
6,248 |
|
6,958 |
|
At 31 October 2021 |
58,764 |
|
171,525 |
|
230,289 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2020 |
2,322 |
|
100,645 |
|
102,967 |
|
Charge for the year |
1,161 |
|
17,898 |
|
19,059 |
|
At 31 October 2021 |
3,483 |
|
118,543 |
|
122,026 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2021 |
55,281 |
|
52,982 |
|
108,263 |
|
At 31 October 2020 |
55,732 |
|
64,632 |
|
120,364 |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
24,028 |
|
2,100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans and overdrafts |
10,000 |
|
3,333 |
|
Trade creditors |
10,496 |
|
47,478 |
|
Corporation tax |
25,922 |
|
7,244 |
|
Other taxes and social security costs |
29,956 |
|
22,142 |
|
Other creditors, accruals, and deferred income |
86,590 |
|
94,658 |
|
|
|
|
|
|
162,964 |
|
174,855 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans |
37,500 |
|
46,667 |
|
Other creditors, accruals, and deferred income |
37,621 |
|
38,438 |
|
|
|
|
|
|
75,121 |
|
85,105 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
The Ship Inn (Lindisfarne) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 3, Bearl |
|
Stocksfield |
|
Northumberland |
|
NE43 7AL |
