The Inglenook Hotel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04138074 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

THE INGLENOOK HOTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A S Honour

E M Honour

SECRETARY:

E M Honour

REGISTERED OFFICE:

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

REGISTERED NUMBER:

04138074 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Intangible assets

4

58,450

70,140

Tangible assets

5

53,922

67,097

112,372

137,237

CURRENT ASSETS

Stocks

18,000

18,000

Debtors

6

37,936

6,312

Cash in hand

1,595

851

57,531

25,163

CREDITORS

Amounts falling due within one year

7

67,041

80,258

NET CURRENT LIABILITIES

(9,510

)

(55,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,862

82,142

CREDITORS

Amounts falling due after more than one year

8

(41,667

)

-

PROVISIONS FOR LIABILITIES

(9,364

)

(11,609

)

NET ASSETS

51,831

70,533

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,731

70,433

SHAREHOLDERS' FUNDS

51,831

70,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2021 and were signed on its behalf by:

E M Honour - Director

1.	STATUTORY INFORMATION

The Inglenook Hotel Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 04138074 and its registered office address is Appledram Barns, Birdham Road, Chichester, West Sussex, PO20 7EQ.

The presentational currency of the financial statements is pounds sterling (£).

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.

Revenue

Revenue represents net invoiced sales of goods and services, excluding discounts, rebates and value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Caravans

-

25% on reducing balance

Furnishings

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation forexpensesor 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.

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 the directors as basic following the conditions in FRS 102 Section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 40 (2020 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

233,800

AMORTISATION

At 1 April 2020

163,660

Amortisation for year

11,690

At 31 March 2021

175,350

NET BOOK VALUE

At 31 March 2021

58,450

At 31 March 2020

70,140

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Caravans

Furnishings

fittings

£

£

£

COST

At 1 April 2020

25,970

102,098

224,507

Additions

-

288

265

At 31 March 2021

25,970

102,386

224,772

DEPRECIATION

At 1 April 2020

25,655

84,183

187,520

Charge for year

79

3,604

7,428

At 31 March 2021

25,734

87,787

194,948

NET BOOK VALUE

At 31 March 2021

236

14,599

29,824

At 31 March 2020

315

17,915

36,987

Motor

Plant and

vehicles

machinery

Totals

£

£

£

COST

At 1 April 2020

29,000

9,904

391,479

Additions

-

395

948

At 31 March 2021

29,000

10,299

392,427

DEPRECIATION

At 1 April 2020

22,118

4,906

324,382

Charge for year

1,721

1,291

14,123

At 31 March 2021

23,839

6,197

338,505

NET BOOK VALUE

At 31 March 2021

5,161

4,102

53,922

At 31 March 2020

6,882

4,998

67,097

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

531

2,217

Directors' current accounts

35,619

-

Prepayments and accrued income

1,786

4,095

37,936

6,312

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

32,206

23,186

Trade creditors

7,478

12,509

Corporation tax

734

4,952

Social security and other taxes

2,746

-

Pension Payable

395

983

VAT

14,385

19,971

Other creditors

4,690

9,764

Credit card control

692

767

Attachment of Earnings

237

340

Directors' current accounts

-

4,196

Accruals and deferred income

3,478

3,590

67,041

80,258

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans more 5 yr by instal

41,667

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,667

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

E M Honour

Balance outstanding at start of year

(2,083

)

32,291

Amounts advanced

20,892

38,197

Amounts repaid

(1,000

)

(72,571

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,809

(2,083

)

A S Honour

Balance outstanding at start of year

(2,113

)

32,398

Amounts advanced

19,922

22,509

Amounts repaid

-

(57,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,809

(2,113

)

Interest at 2.5% has been charged on the above loans. There are no fixed terms for repayment.