Birdsall Inns Holdings Limited Filleted accounts for Companies House (small and micro)

BIRDSALL INNS HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09316032

BIRDSALL INNS HOLDINGS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2020

BIRDSALL INNS HOLDINGS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

BIRDSALL INNS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2020

	2020		2019
Note	£	£	£

Fixed assets

Investments	4		1,232,040	1,221,824

Current assets

Debtors	5	39,420	46,056
Cash at bank and in hand		9,589	1,768
		--------	--------
		49,009	47,824

Creditors: amounts falling due within one year	6	835,887		820,474
		---------		---------
Net current liabilities			786,878	772,650
			------------	------------
Total assets less current liabilities			445,162	449,174

Creditors: amounts falling due after more than one year	7		312,475	328,289

Provisions

Taxation including deferred tax	8,874	8,874
	---------	---------
Net assets	123,813	112,011
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	123,812	112,010
	---------	---------
Shareholders funds	123,813	112,011
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BIRDSALL INNS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 10 November 2021 , and are signed on behalf of the board by:

L Birdsall
Director

Company registration number: 09316032

BIRDSALL INNS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, DA15 7BY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Revenue refers to the turnover earned from the company carrying out its principal activity; the rental supply of freehold public houses. Turnover is measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. The investment property was revalued during the year by a professional property sales person who, at the time of giving the valuation, possessed relevant experience of the public house market and had sufficient competence to be able to give an accurate and reliable valuation.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.

4. Investments

	Shares in group undertakings	Investment property	Total
	£	£	£
Cost
At 1 January 2020	1	1,221,823	1,221,824
Additions	–	10,216	10,216
	----	------------	------------
At 31 December 2020	1	1,232,039	1,232,040
	----	------------	------------
Impairment
At 1 January 2020 and 31 December 2020	–	–	–
	----	------------	------------

Carrying amount
At 31 December 2020	1	1,232,039	1,232,040
	----	------------	------------
At 31 December 2019	1	1,221,823	1,221,824
	----	------------	------------

The most recent adjustment to the fair value of the company's freehold investment property was made at 31st December 2016. Standard valuation techniques used to determine the fair value of the investment property included, but were not limited to, comparing values of recent arm's length market transactions for similar property as well as considering the relevant market pricing index. An independent valuer was not used in determining the fair value of the investment property. The director's have considered the fair value of the investment property at the reporting date and believe it to be materially accurate. No fair value adjustment has been necessary at 31st December 2020.

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Birdsall Inns Limited	Ordinary	100

5. Debtors

	2020	2019
	£	£
Trade debtors	19,420	26,056
Other debtors	20,000	20,000
	--------	--------
	39,420	46,056
	--------	--------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	15,000	15,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest	14,663	6,472
Corporation tax	6,462	3,670
Social security and other taxes	850	781
Other loans	556,500	556,500
Other creditors	242,412	238,051
	---------	---------
	835,887	820,474
	---------	---------

7. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	312,475	328,289
	---------	---------

8. Employee numbers

The average number of persons employed by the company during the year amounted to 0 (2019: 0).