Refined Inns Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11958633 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2021

for

Refined Inns Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Koprivica

REGISTERED OFFICE:

Central Chambers

227 London Road

Hadleigh

Essex

Essex

SS7 2RF

REGISTERED NUMBER:

11958633 (England and Wales)

ACCOUNTANTS:

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

FIXED ASSETS

Tangible assets

4

1,851

869

CURRENT ASSETS

Stocks

-

758

Debtors

5

4,957

3,000

Cash at bank and in hand

44,373

10,472

49,330

14,230

CREDITORS

Amounts falling due within one year

6

19,394

18,545

NET CURRENT ASSETS/(LIABILITIES)

29,936

(4,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,787

(3,446

)

CREDITORS

Amounts falling due after more than one year

7

(23,428

)

-

PROVISIONS FOR LIABILITIES

9

(352

)

(165

)

NET ASSETS/(LIABILITIES)

8,007

(3,611

)

CAPITAL AND RESERVES

Called up share capital

10

5

5

Retained earnings

11

8,002

(3,616

)

SHAREHOLDERS' FUNDS

8,007

(3,611

)

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8th December 2021 and were signed by:

Mr D Koprivica - Director

1.	STATUTORY INFORMATION

Refined Inns Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

Straight line over 4 years

Fixtures and fittings

-

straight line over 3 years

Computer equipment

-

straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2020

932

-

255

1,187

Additions

213

1,170

540

1,923

At 31st March 2021

1,145

1,170

795

3,110

DEPRECIATION

At 1st April 2020

233

-

85

318

Charge for year

286

390

265

941

At 31st March 2021

519

390

350

1,259

NET BOOK VALUE

At 31st March 2021

626

780

445

1,851

At 31st March 2020

699

-

170

869

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Other debtors

4,957

3,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans and overdrafts (see note 8)

1,571

-

Trade creditors

-

551

Taxation and social security

3,040

2,231

Other creditors

14,783

15,763

19,394

18,545

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans (see note 8)

23,428

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,516

-

8.

LOANS

An analysis of the maturity of loans is given below:

31/3/21

31/3/20

£

£

Amounts falling due within one year or on demand:

Bank loans

1,571

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,793

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

15,119

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,516

-

9.	PROVISIONS FOR LIABILITIES

31/3/21

31/3/20

£

£

Deferred tax

352

165

Deferred

tax

£

Balance at 1st April 2020

165

Provided during year

187

Deferred Tax

Balance at 31st March 2021

352

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

£

1

Ordinary Share

£1

1

1

1

Ordinary A Share

£1

1

1

1

Ordinary B Share

£1

1

1

1

Ordinary C Share

£1

1

1

1

Ordinary D Share

£1

1

1

5

5

11.

RESERVES

Retained

earnings

£

At 1st April 2020

(3,616

)

Profit for the year

15,618

Dividends

(4,000

)

At 31st March 2021

8,002

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Koprivica.