Silverfin false 31/01/2023 01/02/2022 31/01/2023 Charlotte Carew Pole 20/01/2016 Tremayne Carew Pole 20/01/2016 27 October 2023 The principal activity of the company is the management of Whitsand Bay Golf Club and The Wilcove Inn. From August 2022 the company began to manage the Tea Rooms at Broomhill. 09959797 2023-01-31 09959797 bus:Director1 2023-01-31 09959797 bus:Director2 2023-01-31 09959797 2022-01-31 09959797 core:CurrentFinancialInstruments 2023-01-31 09959797 core:CurrentFinancialInstruments 2022-01-31 09959797 core:Non-currentFinancialInstruments 2023-01-31 09959797 core:Non-currentFinancialInstruments 2022-01-31 09959797 core:ShareCapital 2023-01-31 09959797 core:ShareCapital 2022-01-31 09959797 core:RetainedEarningsAccumulatedLosses 2023-01-31 09959797 core:RetainedEarningsAccumulatedLosses 2022-01-31 09959797 core:OtherResidualIntangibleAssets 2022-01-31 09959797 core:OtherResidualIntangibleAssets 2023-01-31 09959797 core:LandBuildings 2022-01-31 09959797 core:PlantMachinery 2022-01-31 09959797 core:FurnitureFittings 2022-01-31 09959797 core:OfficeEquipment 2022-01-31 09959797 core:LandBuildings 2023-01-31 09959797 core:PlantMachinery 2023-01-31 09959797 core:FurnitureFittings 2023-01-31 09959797 core:OfficeEquipment 2023-01-31 09959797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 09959797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-01-31 09959797 bus:OrdinaryShareClass1 2023-01-31 09959797 2022-02-01 2023-01-31 09959797 bus:FullAccounts 2022-02-01 2023-01-31 09959797 bus:SmallEntities 2022-02-01 2023-01-31 09959797 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09959797 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09959797 bus:Director1 2022-02-01 2023-01-31 09959797 bus:Director2 2022-02-01 2023-01-31 09959797 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-02-01 2023-01-31 09959797 core:LandBuildings core:BottomRangeValue 2022-02-01 2023-01-31 09959797 core:LandBuildings core:TopRangeValue 2022-02-01 2023-01-31 09959797 core:PlantMachinery core:TopRangeValue 2022-02-01 2023-01-31 09959797 core:FurnitureFittings core:BottomRangeValue 2022-02-01 2023-01-31 09959797 core:FurnitureFittings core:TopRangeValue 2022-02-01 2023-01-31 09959797 core:OfficeEquipment core:TopRangeValue 2022-02-01 2023-01-31 09959797 2021-02-01 2022-01-31 09959797 core:OtherResidualIntangibleAssets 2022-02-01 2023-01-31 09959797 core:LandBuildings 2022-02-01 2023-01-31 09959797 core:PlantMachinery 2022-02-01 2023-01-31 09959797 core:FurnitureFittings 2022-02-01 2023-01-31 09959797 core:OfficeEquipment 2022-02-01 2023-01-31 09959797 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 09959797 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 09959797 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09959797 (England and Wales)

ANTONY HOSPITALITY HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

ANTONY HOSPITALITY HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

ANTONY HOSPITALITY HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2023
ANTONY HOSPITALITY HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTORS Charlotte Carew Pole
Tremayne Carew Pole
SECRETARY Tremayne Carew Pole
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Antony Estate Office
Antony
Torpoint
Conrwall
PL11 3AB
COMPANY NUMBER 09959797 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
ANTONY HOSPITALITY HOLDINGS LIMITED

BALANCE SHEET

As at 31 January 2023
ANTONY HOSPITALITY HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 255 754
Tangible assets 4 95,186 132,950
Investment property 5 250,000 250,000
345,441 383,704
Current assets
Stocks 32,645 35,297
Debtors 6 26,303 7,715
Cash at bank and in hand 8,364 11,715
67,312 54,727
Creditors: amounts falling due within one year 7 ( 971,656) ( 774,994)
Net current liabilities (904,344) (720,267)
Total assets less current liabilities (558,903) (336,563)
Creditors: amounts falling due after more than one year 8 ( 342,984) ( 391,163)
Net liabilities ( 901,887) ( 727,726)
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account ( 901,888 ) ( 727,727 )
Total shareholder's deficit ( 901,887) ( 727,726)

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Antony Hospitality Holdings Limited (registered number: 09959797) were approved and authorised for issue by the Board of Directors on 27 October 2023. They were signed on its behalf by:

Tremayne Carew Pole
Director
ANTONY HOSPITALITY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
ANTONY HOSPITALITY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Antony Hospitality Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Antony Estate Office, Antony, Torpoint, Conrwall, PL11 3AB.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company continues to rely on the ongoing financial support of the directors. The directors of the company have confirmed their intentions to provide ongoing support to ensure continued operation of the company. Therefore the accounts have been prepared on a going concern basis.

Turnover

Wilcove Inn and Tea Rooms at Broomhill:
Turnover represents sales of food and drink and the provision of bed and breakfast at the premises, made net of VAT, returns, rebates and discounts. Revenue is recognised as sales made which, given the nature of the business, is usually when the cash is received. Monies received as deposits for advance bookings are treated as deferred income and recognised in turnover at the time of the event, or on forfeiture.

Carew Arms (From July 2020):
Turnover represents the 15 year lease of Carew Arms, as well as the letting of short term holiday lets up to 31 January 2023, net of VAT. Monies received in advance are treated as deferred income and recognised over the period that they relate to.

Whitsand Bay:
Turnover represents membership and green fees as well as shop and bar sales made net of VAT, returns, rebates and discounts. Annual membership fees are spread over the period of membership on a straight line basis. Green fees and golf shop sales are recognised as sales are made which, given the nature of the business, is usually when the cash is received.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 - 50 years straight line
Plant and machinery 5 years straight line
Fixtures and fittings 4 - 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
The company has both finance leases and operating leases.
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases.

Payable Leases:
Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
For finance leases we recognise the leased asset within tangible fixed assets and the liabilities within loans and borrowings within creditors. Payments made under finance leases reduce the liability.

The Company as lessor
Receivable Leases:
Receipts received from operating leases are recognised in revenue on a straight-line basis over the period of the lease.
A lease premium was received at the start of the lease. This has been included within the straight-line basis calculation, with the advance element recognised as deferred income.
A lease reduction was allowed to the tenant in light of the Covid-19 restrictions and the element that related to the 2022 year end was reduced accordingly from the profit and loss in the 2022 year end accounts, the same treatment was applied in the 2021 accounts.

Investment property

Investment property is measured at fair value with any change recognised in the profit and loss account.

The initial valuation is based on a third party valuation of £250,000 from February 2020. Its carrying amount within freehold property at the start of this period was £250,000 (2022: £254,000), so it was not revalued in the year (2022: downwards by £4,000, with an impairment expense of £4,000 recognised within administrative expenses, then transferred to investment property at its market value).

The directors assessed the value of the property at January 2023 and January 2022 by reviewing the factors behind the February 2020 valuation and also using current market data for comparable real estate based on observable market prices, adjusted where necessary for differences in nature, location or condition. They determined that the value of the property remains £250,000. For this reason no change in market value has been recognised since the transfer.

Stocks

Stock comprises goods for resale and consumables.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Other grants

In 2023 and 2022 Antony Hospitality Holdings received grant income from Cornwall Council and English Golf Union, to aide with the Covid restrictions placed on the hospitality sector. As there were no future conditions for these grants the full amount was recognised within other income in the year.

In the 2022 year end accounts a Coronavirus Business Interruption Loan Scheme (CBILS) loan of £45,000 was received. The 12 months interest free period has now passed, so interest has been charged as an expense in the period.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 32 28

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2022 2,492 2,492
At 31 January 2023 2,492 2,492
Accumulated amortisation
At 01 February 2022 1,738 1,738
Charge for the financial year 499 499
At 31 January 2023 2,237 2,237
Net book value
At 31 January 2023 255 255
At 31 January 2022 754 754

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 February 2022 50,838 157,852 21,917 824 231,431
Additions 0 2,472 1,833 0 4,305
At 31 January 2023 50,838 160,324 23,750 824 235,736
Accumulated depreciation
At 01 February 2022 10,084 76,479 11,668 250 98,481
Charge for the financial year 5,086 32,067 4,751 165 42,069
At 31 January 2023 15,170 108,546 16,419 415 140,550
Net book value
At 31 January 2023 35,668 51,778 7,331 409 95,186
At 31 January 2022 40,754 81,373 10,249 574 132,950

5. Investment property

Investment property
£
Valuation
As at 01 February 2022 250,000
As at 31 January 2023 250,000

6. Debtors

2023 2022
£ £
Trade debtors 4,549 131
Amounts owed by related parties 7,700 0
Prepayments 14,054 7,584
26,303 7,715

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 50,149 18,399
Trade creditors 132,432 61,235
Other taxation and social security 39,836 38,859
Obligations under finance leases and hire purchase contracts 11,469 14,682
Other creditors 737,770 641,819
971,656 774,994

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 178,653 193,416
Obligations under finance leases and hire purchase contracts 13,797 25,266
Other creditors 150,534 172,481
342,984 391,163

Creditors include bank loans which are secured against the freehold property known as the Ring O'Bells of £149,786 (2022 - £157,416).

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 £1 Ordinary share of £ 1.00 1 1

10. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
tangible fixed assets 191,208 46,100

In addition Antony Hospitality Holdings Ltd entered into rental agreements for Whitsand Bay Golf Course and the Wilcove Inn. These are viewed as open ended lease agreements and as such no disclosure regarding the period of commitment is given.

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 191,208 46,100

11. Related party transactions

During the year a director and entities controlled by a director (including a company and trusts of which they have authority to act as an agent on the trustee's behalf) made loans to Antony Hospitality Holdings Ltd. The loans are interest free and repayable on demand. At the year end the outstanding balance, as included in other creditors, on these loans was £780,845 (2022: £719,621).

Of this, the total amount owed to the director is £522,621 (2022: £454,410). Of this balance £150,534 (2022: £172,481) is due over one year.

A partnership, (of which one of the directors is a partner) is the landlord of Whitsand Bay Golf Club and Wilcove Inn, both of which are rented to Antony Hospitality Holdings Ltd on third party commercial terms. As at 31 January 2023 Antony Hospitality Holdings Limited owed the partnership £34,716 (2022: £11,758) for rental payments.