McCreedy Inns Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04165671 (England and Wales)

MCCREEDY INNS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J McCreedy

T D McCreedy

SECRETARY:

T D McCreedy

REGISTERED OFFICE:

26 Clifton Street

Lytham

Lancashire

FY8 5EW

REGISTERED NUMBER:

04165671 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Avroe House

Avroe Crescent

Blackpool Business Park

Blackpool

Lancashire

FY4 2DP

FIXED ASSETS

Tangible assets

4

1,115,246

1,144,405

Investments

5

660,217

660,217

Investment property

6

880,000

880,000

2,655,463

2,684,622

CURRENT ASSETS

Debtors

498,167

333,400

Cash at bank

499,114

129,206

997,281

462,606

CREDITORS

Amounts falling due within one year

83,555

62,499

NET CURRENT ASSETS

913,726

400,107

TOTAL ASSETS LESS CURRENT LIABILITIES

3,569,189

3,084,729

CREDITORS

Amounts falling due after more than one year

7

806,430

800,000

NET ASSETS

2,762,759

2,284,729

CAPITAL AND RESERVES

Called up share capital

384

384

Share premium

660,000

660,000

Retained earnings

2,102,375

1,624,345

SHAREHOLDERS' FUNDS

2,762,759

2,284,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 March 2022 and were signed on its behalf by:

D J McCreedy - Director

1.	STATUTORY INFORMATION

McCreedy 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.

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.

The financial statements are presented in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Preparation of consolidated financial statements

The financial statements contain information about McCreedy Inns Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rents received.

Tangible fixed assets

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

Freehold property

-

2% on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fixed asset investments

Fixed asset investments are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2020

and 30 November 2021

1,472,894

DEPRECIATION

At 1 December 2020

328,489

Charge for year

29,159

At 30 November 2021

357,648

NET BOOK VALUE

At 30 November 2021

1,115,246

At 30 November 2020

1,144,405

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 December 2020

and 30 November 2021

660,217

NET BOOK VALUE

At 30 November 2021

660,217

At 30 November 2020

660,217

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2020

and 30 November 2021

880,000

NET BOOK VALUE

At 30 November 2021

880,000

At 30 November 2020

880,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable by instalments

Bank loans more 5 yr by instal

560,491

554,061

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

806,430

800,000

The bank loans are secured by fixed and floating charges over the properties and other assets of the company.