Crusoe Inns Limited - Accounts to registrar (filleted) - small 18.2
Crusoe Inns Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| CRUSOE INNS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| CRUSOE INNS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| BALANCE SHEET |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| The director acknowledges his 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. |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| BALANCE SHEET - continued |
| 31 March 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Crusoe Inns Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| Due to the Covid-19 global pandemic the company was required to close its premises for a number of months during the year which has impacted the company operations and results for the 2021 financial year. During the year the company has utilised the government support available including the government backed Coronavirus Business Interruption Loan Scheme, VAT deferral and the Coronavirus Job Retention to aid with cashflow and allow the company to retain its employees. The director considers this is sufficient to allow the company to meet its liabilities as they fall due. On this basis the director considers the going concern basis to be appropriate. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable for sale of food and liquor, excluding value added tax. This is recognised when the significant risks and rewards of ownership has transferred to the customer. |
| Tangible fixed assets |
| Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date. |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
| Plant & machinery | - 10% straight line and 20 % straight line |
| Leasehold property | - straight line over the life of term |
| On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses. |
| Government grants |
| Government grants relate to grants receivable under the Coronavirus Job Retention Scheme and are accounted for under the accruals model. Grants relating to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest rate method. The company has no non-basic financial instruments. |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Leasing commitments |
| Rentals applicable to operating leased where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account over the lease term. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term. Rent concessions granted in relation to Covid-19 are recognised over the period in which the concession is intended to compensate. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| CRUSOE INNS LIMITED (REGISTERED NUMBER: 08935945) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Following the year end the loan was settled early in full and as such has been disclosed as falling due within one year, further information is provided in Post Balance Sheet Events. |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | SECURED DEBTS |
| The company has allowed Lloyds Bank PLC a debenture, which is secured by way of a fixed and floating charge over the assets of the company which was satisfied after the year end on 29th June. |
| 9. | CONTINGENT LIABILITIES |
| After the year end, the company allowed Tc Security Trustee Limited a debenture as a cross guarantee for a loan in the parent company, Inda Group Holding Company Limited. The cross guarantee is secured by a way of a fixed and floating charge over the assets of the company. |
| 10. | POST BALANCE SHEET EVENTS |
| Following the year end the company opted to make early repayment of the bank loan in full and a total repayment of £100,000 was made in order to settle the loan in full. |
| 11. | ULTIMATE PARENT COMPANY |
| The Ultimate Parent Company is Inda Group Holding Company Limited. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| CRUSOE INNS LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crusoe Inns Limited for the year ended 31 March 2021 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Crusoe Inns Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crusoe Inns Limited and state those matters that we have agreed to state to the director of Crusoe Inns Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crusoe Inns Limited and its director for our work or for this report. |
| It is your duty to ensure that Crusoe Inns Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crusoe Inns Limited. You consider that Crusoe Inns Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Crusoe Inns Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |