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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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The Inn On The Green Limited |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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The Inn On The Green Limited |
The Inn On The Green Limited (Registered number: 02950398) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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The Inn On The Green Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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The Inn On The Green Limited (Registered number: 02950398) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 Inn On The Green Limited (Registered number: 02950398) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
were signed on its behalf by: |
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The Inn On The Green Limited (Registered number: 02950398) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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The Inn On The Green Limited is a
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England and Wales. The company's registered number and registered office address can be |
found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is derived from ordinary activities and represents net sales of rent income, |
excluding value added tax. |
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Tangible fixed assets |
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Freehold property | not provided |
Improvements to property | 5% on reducing balance |
Plant and machinery | 10% on cost |
Fixtures and fittings | 10% on cost |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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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. |
The Inn On The Green Limited (Registered number: 02950398) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Disposals |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Included in cost of land and buildings is freehold land of £939,307 (2015: £939,307) which is |
not depreciated. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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The Inn On The Green Limited (Registered number: 02950398) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
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There is an overdraft facility of £100,000 (which was temporarily increased to £125,000 |
during the year ending 31 December 2015) for Sphere Entertainment Ltd to which the |
following securities apply: |
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Date | Name | Amount | Description |
22/03/99 |
HSBC
Private Bank (UK) Ltd |
All monies due or to become
due from the company. |
Debenture - Given by Inn On The
Green Ltd including Fixed Equitable Charge over all present and future freehold and leasehold property; Fixed First Charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future. |
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16/01/02 |
HSBC
Private Bank (UK) Ltd |
All monies due or to become
due from the company. |
Debenture - Given by Sphere
Entertainment Ltd including Fixed Equitable Charge over all present and future freehold and leasehold property; Fixed First Charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future. |
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The following also apply: |
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03/06/99 |
A J
Taylor |
All monies due or to become
due from the company. |
Debenture - property with title
number RK287776, by way of floating charge all the undertaking, property and assets. |
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03/06/99 |
Sphere
Entertai nment Limited |
All monies due or to become
due from the company. |
Debenture - property with title
number RK287776, by way of floating charge all the undertaking, property and assets. |
The Inn On The Green Limited (Registered number: 02950398) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. | PROVISIONS FOR LIABILITIES |
31.12.16 | 31.12.15 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Other timing differences | - | (4,486 | ) |
20,225 | 18,141 |
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Deferred |
tax |
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Balance at 1 January 2016 |
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Provided during year |
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Balance at 31 December 2016 |
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
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Concept Venues Ltd |
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A company in which A J Taylor is a director. |
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At the balance sheet date Concept Venues Ltd owed the company £250,000 (2015: |
£250,000) for loan notes held. |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are A J Taylor and E Taylor, shareholders and directors of |
the parent company Sphere Entertainment Ltd. |
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10. | FIRST YEAR ADOPTION |
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There are no transitional adjustments from FRSSE (effective January 2015) for the year |
ending 31 December 2015 to FRS 102 Section 1A for the year ending 31 December 2016. |
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Transitional relief |
On transition to FRS 102, the company has taken advantage of the following transitional |
relief: |
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• | to determine existence of leases on basis of existing facts and circumstances. |