REGISTERED NUMBER: 06458959 |
Group Strategic Report, Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 January 2023 |
for |
HATTON GROUP HOLDINGS LIMITED |
REGISTERED NUMBER: 06458959 |
Group Strategic Report, Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 January 2023 |
for |
HATTON GROUP HOLDINGS LIMITED |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 9 |
Consolidated Other Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 14 |
Company Statement of Changes in Equity | 15 |
Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Financial Statements | 19 |
HATTON GROUP HOLDINGS LIMITED |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
26-28 Headlands |
Kettering |
Northamptonshire |
NN15 7HP |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Group Strategic Report |
for the Year Ended 31 January 2023 |
The directors present their strategic report of the company and the group for the year ended 31 January 2023. |
REVIEW OF BUSINESS |
Following structural reorganisation in previous years the Group continues to concentrate on the hotel and pub operations post Covid 19 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The group's principal financial instruments comprise bank balances, trade debtors, trade creditors, hire purchase agreements and government grants. The main purpose of the instruments is to raise and maintain working capital and finance the group's operations. due to the nature of these financial instruments there is no exposure to risk. the group's approach to managing continuity of funding and flexibility as appropriate through the use of loans and overdrafts. Trade Debtors: Managed for credit and cashflow risk by appropriate credit levels offered and ongoing monitoring of outstanding debt. Trade Creditors: Liquidity risk is managed by ensuring there is sufficient funds available to cover amounts as they fall due. Banks:Loans and overdrafts: Repayments and interest are fixed thus allowing the group to manage liquidity by ensuring that adequate funds are available as and when they fall due. |
KEY PERFORMANCE INDICTOR |
The results for the year were marginally impacted in the early months with Government Support ending and the legacy of Covid 19 still influencing sales. The Group as with many Hospitality businesses had to combat inflationary pressures in particular wage food and energy costs. Despite these challenges the Group turnover increased to £3,709,630 (up from £2,757,541) and pre-tax profits rose to £397,495, strong sales performances combined with a robust control of costs the business has improved profitability at a challenging time for hospitality. The net assets of the group are £1,659,026 up from £1,251,576. Refurbishment and investment throughout the year will put the business in a strong position going forward |
EMPLOYEES |
The group provides a safe and hygienic environment and provides appropriate health and safety and occupational training. All working directives are complied with and there is no discrimination in hiring, compensation or access to training, promotion, overtime, termination or retirement based upon race, caste, national origin, age, disability, marital status and sexual orientation, union membership or political affiliation. |
ENVIRONMENT |
The group recognizes that it has a responsibility beyond legal and regulatory requirements and constantly endeavour to minimize any adverse impact on the environment arising from its activities |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Group Strategic Report |
for the Year Ended 31 January 2023 |
FUTURE DEVELOPMENTS |
With the Pandemic now behind us The Group will continue to invest and enhance the portfolio and look to further opportunities. The business will also concentrate on utilising improved technology to enhance efficiency and performance throughout the group |
ON BEHALF OF THE BOARD: |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Report of the Directors |
for the Year Ended 31 January 2023 |
The directors present their report with the financial statements of the company and the group for the year ended 31 January 2023. |
DIVIDENDS |
No dividends will be distributed for the year ended 31 January 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 February 2022 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Report of the Directors |
for the Year Ended 31 January 2023 |
AUDITORS |
The auditors, John S Ward & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
HATTON GROUP HOLDINGS LIMITED |
Opinion |
We have audited the financial statements of HATTON GROUP HOLDINGS LIMITED (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2023 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Report of the Independent Auditors to the Members of |
HATTON GROUP HOLDINGS LIMITED |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
HATTON GROUP HOLDINGS LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:- |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors |
26-28 Headlands |
Kettering |
Northamptonshire |
NN15 7HP |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Consolidated Income Statement |
for the Year Ended 31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 3,709,630 | 2,757,541 |
Cost of sales | 1,721,732 | 1,460,675 |
GROSS PROFIT | 1,987,898 | 1,296,866 |
Administrative expenses | 2,425,228 | 1,929,246 |
(437,330 | ) | (632,380 | ) |
Other operating income | 986,000 | 780,898 |
OPERATING PROFIT | 4 | 548,670 | 148,518 |
Interest payable and similar expenses |
5 |
151,175 |
118,636 |
PROFIT BEFORE TAXATION | 397,495 | 29,882 |
Tax on profit | 6 | (9,955 | ) | - |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 407,450 | 29,882 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Consolidated Other Comprehensive Income |
for the Year Ended 31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 407,450 | 29,882 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
407,450 |
29,882 |
Total comprehensive income attributable to: |
Owners of the parent | 407,450 | 29,882 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Consolidated Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 | 7,021,241 | 6,869,268 |
Investments | 10 | - | - |
7,021,241 | 6,869,268 |
CURRENT ASSETS |
Stocks | 11 | 44,575 | 34,070 |
Debtors | 12 | 334,988 | 226,963 |
Cash at bank | 139,654 | 167,537 |
519,217 | 428,570 |
CREDITORS |
Amounts falling due within one year | 13 | 1,540,805 | 1,738,450 |
NET CURRENT LIABILITIES | (1,021,588 | ) | (1,309,880 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,999,653 |
5,559,388 |
CREDITORS |
Amounts falling due after more than one year |
14 |
(4,225,582 |
) |
(4,182,812 |
) |
PROVISIONS FOR LIABILITIES | 18 | (115,045 | ) | (125,000 | ) |
NET ASSETS | 1,659,026 | 1,251,576 |
CAPITAL AND RESERVES |
Called up share capital | 19 | 32,104 | 32,104 |
Revaluation reserve | 20 | 1,244,926 | 1,244,926 |
Retained earnings | 20 | 381,996 | (25,454 | ) |
SHAREHOLDERS' FUNDS | 1,659,026 | 1,251,576 |
The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by: |
D L R Hiscox - Director |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Company Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
14 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 19 |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year |
200,010 |
3,336 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Company Balance Sheet - continued |
31 January 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 January 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 February 2021 | 32,104 | (55,336 | ) | 1,244,926 | 1,221,694 |
Changes in equity |
Total comprehensive income | - | 29,882 | - | 29,882 |
Balance at 31 January 2022 | 32,104 | (25,454 | ) | 1,244,926 | 1,251,576 |
Changes in equity |
Total comprehensive income | - | 407,450 | - | 407,450 |
Balance at 31 January 2023 | 32,104 | 381,996 | 1,244,926 | 1,659,026 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Company Statement of Changes in Equity |
for the Year Ended 31 January 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 February 2021 | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 31 January 2022 | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 31 January 2023 | ( |
) |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Consolidated Cash Flow Statement |
for the Year Ended 31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 429,252 | (3,559 | ) |
Interest paid | (141,718 | ) | (104,060 | ) |
Interest element of hire purchase and finance lease rental payments paid |
(7,040 |
) |
(10,448 |
) |
Finance costs paid | (2,417 | ) | (4,128 | ) |
Net cash from operating activities | 278,077 | (122,195 | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | (348,124 | ) | (99,956 | ) |
Net cash from investing activities | (348,124 | ) | (99,956 | ) |
Cash flows from financing activities |
Capital repayments in year | 26,164 | (53,096 | ) |
Government Grants | 16,000 | 420,898 |
Net cash from financing activities | 42,164 | 367,802 |
(Decrease)/increase in cash and cash equivalents |
(27,883 |
) |
145,651 |
Cash and cash equivalents at beginning of year |
2 |
167,537 |
21,886 |
Cash and cash equivalents at end of year |
2 |
139,654 |
167,537 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 January 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2023 | 2022 |
£ | £ |
Profit before taxation | 397,495 | 29,882 |
Depreciation charges | 196,151 | 130,003 |
Government grants | (16,000 | ) | (420,898 | ) |
Finance costs | 151,175 | 118,636 |
728,821 | (142,377 | ) |
Increase in stocks | (10,505 | ) | (18,584 | ) |
Increase in trade and other debtors | (108,025 | ) | (41,896 | ) |
(Decrease)/increase in trade and other creditors | (181,039 | ) | 199,298 |
Cash generated from operations | 429,252 | (3,559 | ) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 January 2023 |
31.1.23 | 1.2.22 |
£ | £ |
Cash and cash equivalents | 139,654 | 167,537 |
Year ended 31 January 2022 |
31.1.22 | 1.2.21 |
£ | £ |
Cash and cash equivalents | 167,537 | 21,886 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 January 2023 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.2.22 | Cash flow | At 31.1.23 |
£ | £ | £ |
Net cash |
Cash at bank | 167,537 | (27,883 | ) | 139,654 |
167,537 | (27,883 | ) | 139,654 |
Debt |
Hire purchase and finance leases | (7,687 | ) | (139,757 | ) | (147,444 | ) |
Debts falling due within 1 year | (147,263 | ) | 13,934 | (133,329 | ) |
Debts falling due after 1 year | (2,510,249 | ) | 99,659 | (2,410,590 | ) |
(2,665,199 | ) | (26,164 | ) | (2,691,363 | ) |
Total | (2,497,662 | ) | (54,047 | ) | (2,551,709 | ) |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
HATTON GROUP HOLDINGS LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant & Machinery Between 2 to 15 years |
Fittings, Fixtures & Equipment Between 2 to 15 years |
Freehold Property is maintained to a high standard for Trading purposes and the directors consider the economic life of the property is thereby extended so as to make any provision for depreciation immaterial. |
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 Consolidated 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. |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
2. | ACCOUNTING POLICIES - continued |
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
2023 | 2022 |
£ | £ |
Wages and salaries | 1,999,037 | 1,777,075 |
The average number of employees during the year was as follows: |
2023 | 2022 |
Service and Production | 83 | 89 |
Administration and Management | 9 | 9 |
2023 | 2022 |
£ | £ |
Directors' remuneration | 98,286 | 80,307 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets | 196,151 | 130,002 |
Auditors' remuneration | 31,743 | 30,931 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2023 | 2022 |
£ | £ |
Bank interest | 141,718 | 104,060 |
Hire purchase | 7,040 | 10,448 |
Other Interest | 2,417 | 4,128 |
151,175 | 118,636 |
6. | TAXATION |
Analysis of the tax credit |
The tax credit on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Deferred tax | (9,955 | ) | - |
Tax on profit | (9,955 | ) | - |
7. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
8. | GOVERNMENT GRANTS |
£ |
£ | £ |
Coronavirus Job Retention Scheme | - | 319,548 |
Local/Additional Restrictions Support Gran | 16,000 | 93,239 |
CBILS Loan Interest | - | 6,352 |
The Grant Income has been credited to Profit and Loss Account as Other Operating Income |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
9. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 February 2022 | 5,728,285 | 8,038 | 3,120,017 | 8,856,340 |
Additions | 38,131 | 4,274 | 305,719 | 348,124 |
At 31 January 2023 | 5,766,416 | 12,312 | 3,425,736 | 9,204,464 |
DEPRECIATION |
At 1 February 2022 | - | 3,975 | 1,983,097 | 1,987,072 |
Charge for year | - | 498 | 195,653 | 196,151 |
At 31 January 2023 | - | 4,473 | 2,178,750 | 2,183,223 |
NET BOOK VALUE |
At 31 January 2023 | 5,766,416 | 7,839 | 1,246,986 | 7,021,241 |
At 31 January 2022 | 5,728,285 | 4,063 | 1,136,920 | 6,869,268 |
Cost or valuation at 31 January 2023 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Valuation in 2023 | 5,766,416 | 12,312 | 3,425,736 | 9,204,464 |
Company |
Plant and |
machinery |
£ |
COST |
Additions |
At 31 January 2023 |
DEPRECIATION |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
10. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Hatton Properties Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Owner/Operator |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 1,914,641 | 1,853,892 |
Profit/(loss) for the year | 60,749 | (80,986 | ) |
Hatton Hotels Group Services Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Operator |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 50,229 | 10,803 |
Profit/(loss) for the year | 39,426 | (10,213 | ) |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
10. | FIXED ASSET INVESTMENTS - continued |
Monkstone Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Dormant |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | (243,513 | ) | (243,513 | ) |
Northorn Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Dormant |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 2 | 2 |
Thatch Holdings Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Owner |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 76,106 | (3,288 | ) |
Profit/(loss) for the year | 79,394 | (24,437 | ) |
The Thatch Hotel Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Operator |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 6,597 | 53,649 |
(Loss)/profit for the year | (47,052 | ) | 22,482 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
10. | FIXED ASSET INVESTMENTS - continued |
Snooty Fox Hotel Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Operator |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 104,731 | 65,530 |
Profit for the year | 39,201 | 61,653 |
Snooty Fox Holdings Limited |
Registered office: Hatton Court Hotel Upton St Leonards Gloucestershire GL4 8DE |
Nature of business: Hotel Owner/Operator |
% |
Class of shares: | holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 45,373 | 9,651 |
Profit for the year | 35,722 | 9,174 |
11. | STOCKS |
Group |
2023 | 2022 |
£ | £ |
Stocks | 44,575 | 34,070 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 28,221 | 24,692 |
Other debtors | 150,000 | - |
Prepayments and accrued income | 156,767 | 202,271 |
334,988 | 226,963 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 15) | 133,329 |
147,263 |
Hire purchase contracts and finance leases (see note 16) | 42,134 |
7,687 |
Trade creditors | 581,369 | 500,463 |
Social security and other taxes | 32,373 | 55,660 |
VAT | 210,398 | 129,332 | 17,367 | 74,688 |
Other creditors | 459,785 | 805,570 |
Accruals and deferred income | 81,417 | 92,475 |
1,540,805 | 1,738,450 |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans (see note 15) | 2,410,590 | 2,510,249 |
Hire purchase contracts and finance leases (see note 16) | 105,310 |
- |
Other creditors | 1,709,682 | 1,672,563 |
4,225,582 | 4,182,812 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
15. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
2023 | 2022 |
£ | £ |
Amounts falling due within one year | or on demand: |
Bank loans | 133,329 | 147,263 |
Amounts falling due between two | and five years: |
Bank loans - 2-5 years | 432,296 | 546,219 |
Amounts falling due in more than | five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,978,294 | 1,964,030 |
16. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
Finance leases |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Net obligations repayable: |
Within one year | - | 7,687 | 42,134 | - |
Between one and five years | - | - | 105,310 | - |
- | 7,687 | 147,444 | - |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
17. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 2,543,919 | 2,657,512 |
Other Creditors | 1,753,234 | 1,874,890 | 509,009 | 650,087 |
4,297,153 | 4,532,402 |
Group Bank Loans and overdraft are secured on the Freehold Property and other assets of the group. |
Other Creditors are secured by a fIxed and Floating charge over the assets of the Group. |
18. | PROVISIONS FOR LIABILITIES |
Deferred tax is not provided on the revaluation of property as there are no plans for the group to sell any property in the foreseeable future. |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 32,104 | 32,104 |
20. | RESERVES |
Group |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2022 | (25,454 | ) | 1,244,926 | 1,219,472 |
Profit for the year | 407,450 | 407,450 |
At 31 January 2023 | 381,996 | 1,244,926 | 1,626,922 |
HATTON GROUP HOLDINGS LIMITED (Registered number: 06458959) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 January 2023 |
20. | RESERVES - continued |
Company |
Revaluation |
reserve |
£ |
At 1 February 2022 |
Revaluation | 207,440 |
At 31 January 2023 |
21. | RELATED PARTY DISCLOSURES |
At 31st January 2023 the Group owed £2,008,832 (2022 £2,179,154) to related companies outside the group. |
At 31st January 2023 the Group owed £62,099 ( 2022 £219,554) to Mrs VEA Hiscox |
22. | ULTIMATE CONTROLLING PARTY |
Mrs VEA Hiscox is the ultimate controlling shareholder |