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REGISTERED NUMBER: 01165188 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mrs J M Alford
J G Alford
P G Alford





SECRETARY: J G Alford





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 01165188 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,886,242 3,576,229
Investment property 6 1,622,268 1,622,268
5,508,510 5,198,497

CURRENT ASSETS
Stocks 112,875 89,750
Debtors 7 3,969,296 4,344,708
Cash at bank and in hand 460,847 3,503,197
4,543,018 7,937,655
CREDITORS
Amounts falling due within one year 8 4,006,936 7,289,808
NET CURRENT ASSETS 536,082 647,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,044,592

5,846,344

CREDITORS
Amounts falling due after more than one
year

9

-

(1,019

)

PROVISIONS FOR LIABILITIES (118,011 ) (113,527 )
NET ASSETS 5,926,581 5,731,798

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

BALANCE SHEET - continued
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 90 90
Share premium 23,242 23,242
Capital redemption reserve 10 10
Non distributable reserve 531,092 531,092
Retained earnings 5,372,147 5,177,364
5,926,581 5,731,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2023 and were signed on its behalf by:





J G Alford - Director


SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Springfield Country Hotel (Stoborough) Limited 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.

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.

Rural payment entitlements are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold prop & improvements - 2% on cost
Hotel (at valuation) - 2% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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


SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 27 (2022 - 27 ) .

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Rural
payment
entitlements
£   
COST
At 1 March 2022
and 28 February 2023 17,400
AMORTISATION
At 1 March 2022
and 28 February 2023 17,400
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
prop & Hotel (at and Motor
improvements valuation) fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 3,768,374 450,000 1,607,714 89,425 5,915,513
Additions 344,983 - 12,257 58,000 415,240
Disposals - - - (7,650 ) (7,650 )
At 28 February 2023 4,113,357 450,000 1,619,971 139,775 6,323,103
DEPRECIATION
At 1 March 2022 930,492 99,000 1,253,145 56,647 2,339,284
Charge for year 47,436 4,500 34,528 18,156 104,620
Eliminated on disposal - - - (7,043 ) (7,043 )
At 28 February 2023 977,928 103,500 1,287,673 67,760 2,436,861
NET BOOK VALUE
At 28 February 2023 3,135,429 346,500 332,298 72,015 3,886,242
At 28 February 2022 2,837,882 351,000 354,569 32,778 3,576,229

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 34,100
Transfer to ownership (34,100 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 16,640
Transfer to ownership (16,640 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 17,460

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,622,268
NET BOOK VALUE
At 28 February 2023 1,622,268
At 28 February 2022 1,622,268

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 88,760 22,059
Other debtors 2,580,536 4,322,649
2,669,296 4,344,708

SPRINGFIELD COUNTRY HOTEL (STOBOROUGH)
LIMITED (REGISTERED NUMBER: 01165188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 1,300,000 -

Aggregate amounts 3,969,296 4,344,708

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 1,386,783
Hire purchase contracts - 5,939
Payments on account 39,577 63,806
Trade creditors 71,497 60,754
Taxation and social security 200,595 1,640,008
Other creditors 3,695,267 4,132,518
4,006,936 7,289,808

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 1,019

10. RELATED PARTY DISCLOSURES

The company has received loans from its directors amounting to £3,632,710 (2022, £4,044,590). No fixed terms of repayment or interest have been agreed on these loans.

Other debtors include loans to related companies totalling £1,474,187 (2022, £4,316,037). These loans are repayable on demand and no interest was charged on these loans in either the current or previous year.