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REGISTERED NUMBER: 03258579 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Petwood Hotel Limited

Petwood Hotel Limited (Registered number: 03258579)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Petwood Hotel Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Ms E Brealey
G Kane





REGISTERED OFFICE: The Petwood Hotel
Stixwould Road
Woodhall Spa
Lincolnshire
LN10 6QG





REGISTERED NUMBER: 03258579 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Petwood Hotel Limited (Registered number: 03258579)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,381,147 3,390,586

CURRENT ASSETS
Stocks 31,430 28,913
Debtors 5 106,230 112,574
Cash at bank and in hand 635,153 690,369
772,813 831,856
CREDITORS
Amounts falling due within one year 6 1,020,802 1,151,198
NET CURRENT LIABILITIES (247,989 ) (319,342 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,133,158

3,071,244

CREDITORS
Amounts falling due after more than one
year

7

(1,077,331

)

(1,118,193

)

PROVISIONS FOR LIABILITIES (12,369 ) (12,332 )
NET ASSETS 2,043,458 1,940,719

CAPITAL AND RESERVES
Called up share capital 9 100 1,000
Retained earnings 2,043,358 1,939,719
SHAREHOLDERS' FUNDS 2,043,458 1,940,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





Ms E Brealey - Director


Petwood Hotel Limited (Registered number: 03258579)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Petwood Hotel 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 recognised as earned when and to the extent that the company obtains the right to consideration in exchange for its performance. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, excluding value added tax. Amounts received as deposits for future events are recorded as turnover in the period in which the event takes place, unless there is a right to retain the deposit in the event of cancellation by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 10% on cost

Freehold land and buildings are included in the financial statements at their fair value. For the purposes of these accounts, hotel freehold property is defined as the freehold property in its existing use and present condition as a fully equipped and operational entity. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the period end. The difference between the revalued amount and the historical costs is credited or debited to the revaluation reserve.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred if the replacement item is expected to provide incremental future benefits to the company. The carrying amount of the replaced item is derecognised. Repairs and maintenance are charged to the statement of comprehensive income in the period in which they are incurred.

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.Deferred tax relating to revalued assets shall be measured using the tax rates and allowances that apply to the sale of the asset.

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.

Petwood Hotel Limited (Registered number: 03258579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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 91 (2022 - 81 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
Buildings property machinery
£    £    £   
COST
At 1 October 2022 3,300,000 6,250 55,877
Additions - - 5,939
At 30 September 2023 3,300,000 6,250 61,816
DEPRECIATION
At 1 October 2022 - 313 32,614
Charge for year - 625 5,179
At 30 September 2023 - 938 37,793
NET BOOK VALUE
At 30 September 2023 3,300,000 5,312 24,023
At 30 September 2022 3,300,000 5,937 23,263

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2022 12,517 128,931 3,503,575
Additions 3,400 232 9,571
At 30 September 2023 15,917 129,163 3,513,146
DEPRECIATION
At 1 October 2022 1,871 78,191 112,989
Charge for year 937 12,269 19,010
At 30 September 2023 2,808 90,460 131,999
NET BOOK VALUE
At 30 September 2023 13,109 38,703 3,381,147
At 30 September 2022 10,646 50,740 3,390,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 53,230 42,454
Other debtors 53,000 70,120
106,230 112,574

Petwood Hotel Limited (Registered number: 03258579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 66,559 107,233
Trade creditors 119,055 142,785
Taxation and social security 252,468 216,555
Other creditors 582,720 684,625
1,020,802 1,151,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,077,331 1,118,193

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,143,890 1,225,426

Bank borrowings are secured by means of a fixed charge over the company's freehold property and a fixed or floating charge over its other assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 100 1,000