Jenneson Ltd T/A The Salwey Arms - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09316559 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

Jenneson Ltd T/A The Salwey Arms

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S E Moss

M D Jenneson

J D Jenneson

REGISTERED OFFICE:

The Salwey Arms

Woofferton

Ludlow

Shropshire

SY8 4AL

REGISTERED NUMBER:

09316559 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

Sterling House

Centenary Park

Hereford

Herefordshire

HR2 6FJ

FIXED ASSETS

Intangible assets

4

135,000

180,000

Tangible assets

5

794,487

779,518

929,487

959,518

CURRENT ASSETS

Stocks

11,525

11,358

Debtors

6

11,647

16,910

Cash at bank and in hand

128,003

234,744

151,175

263,012

CREDITORS

Amounts falling due within one year

7

(688,105

)

(686,531

)

NET CURRENT LIABILITIES

(536,930

)

(423,519

)

TOTAL ASSETS LESS CURRENT LIABILITIES

392,557

535,999

CREDITORS

Amounts falling due after more than one year

8

(167,360

)

(431,421

)

NET ASSETS

225,197

104,578

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

225,191

104,572

225,197

104,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 12 October 2022 and were signed on its behalf by:

Ms S E Moss - Director

1.	STATUTORY INFORMATION

Jenneson Ltd T/A The Salwey Arms 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.

The presentation currency of the financial statements is the Pound 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten 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.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

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 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.

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.

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 26 (2021 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2021

and 31 May 2022

450,000

AMORTISATION

At 1 June 2021

270,000

Charge for year

45,000

At 31 May 2022

315,000

NET BOOK VALUE

At 31 May 2022

135,000

At 31 May 2021

180,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2021

823,444

104,995

-

2,119

930,558

Additions

-

1,156

42,645

1,432

45,233

At 31 May 2022

823,444

106,151

42,645

3,551

975,791

DEPRECIATION

At 1 June 2021

80,668

68,562

-

1,810

151,040

Charge for year

13,444

7,518

8,529

773

30,264

At 31 May 2022

94,112

76,080

8,529

2,583

181,304

NET BOOK VALUE

At 31 May 2022

729,332

30,071

34,116

968

794,487

At 31 May 2021

742,776

36,433

-

309

779,518

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Other debtors

11,647

16,910

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

26,181

32,667

Trade creditors

26,173

19,123

Taxation and social security

80,041

40,638

Other creditors

555,710

594,103

688,105

686,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans

119,543

381,421

Other creditors

47,817

50,000

167,360

431,421

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bounce back loan

47,817

50,000

The bank loans include £2,745 (2021: £289,995) which is repayable by instalments after more than five years.

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

Bank loans

145,724

414,088

The bank loans are secured by fixed and floating charges over the assets of the company. Interest is charged at 3.3%.