Silverfin false 31/01/2023 01/02/2022 31/01/2023 L P Housman A G Housman 20/12/2012 03 April 2024 The principle activity of the Company during the financial year was that of a hotelier. 07917199 2023-01-31 07917199 bus:Director2 2023-01-31 07917199 2022-01-31 07917199 core:CurrentFinancialInstruments 2023-01-31 07917199 core:CurrentFinancialInstruments 2022-01-31 07917199 core:Non-currentFinancialInstruments 2023-01-31 07917199 core:Non-currentFinancialInstruments 2022-01-31 07917199 core:ShareCapital 2023-01-31 07917199 core:ShareCapital 2022-01-31 07917199 core:RetainedEarningsAccumulatedLosses 2023-01-31 07917199 core:RetainedEarningsAccumulatedLosses 2022-01-31 07917199 core:Goodwill 2022-01-31 07917199 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-01-31 07917199 core:Goodwill 2023-01-31 07917199 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-31 07917199 core:LandBuildings 2022-01-31 07917199 core:PlantMachinery 2022-01-31 07917199 core:FurnitureFittings 2022-01-31 07917199 core:ComputerEquipment 2022-01-31 07917199 core:LandBuildings 2023-01-31 07917199 core:PlantMachinery 2023-01-31 07917199 core:FurnitureFittings 2023-01-31 07917199 core:ComputerEquipment 2023-01-31 07917199 bus:OrdinaryShareClass1 2023-01-31 07917199 bus:OrdinaryShareClass2 2023-01-31 07917199 bus:OrdinaryShareClass3 2023-01-31 07917199 2022-02-01 2023-01-31 07917199 bus:FullAccounts 2022-02-01 2023-01-31 07917199 bus:SmallEntities 2022-02-01 2023-01-31 07917199 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 07917199 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07917199 bus:Director1 2022-02-01 2023-01-31 07917199 bus:Director2 2022-02-01 2023-01-31 07917199 core:Goodwill core:TopRangeValue 2022-02-01 2023-01-31 07917199 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-02-01 2023-01-31 07917199 core:PlantMachinery 2022-02-01 2023-01-31 07917199 core:FurnitureFittings 2022-02-01 2023-01-31 07917199 core:ComputerEquipment 2022-02-01 2023-01-31 07917199 2021-02-01 2022-01-31 07917199 core:Goodwill 2022-02-01 2023-01-31 07917199 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-02-01 2023-01-31 07917199 core:LandBuildings 2022-02-01 2023-01-31 07917199 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 07917199 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 07917199 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 07917199 bus:OrdinaryShareClass2 2021-02-01 2022-01-31 07917199 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 07917199 bus:OrdinaryShareClass3 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07917199 (England and Wales)

HOUSMAN HOTELS LTD

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

HOUSMAN HOTELS LTD

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

HOUSMAN HOTELS LTD

COMPANY INFORMATION

For the financial year ended 31 January 2023
HOUSMAN HOTELS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTORS L P Housman
A G Housman
REGISTERED OFFICE The Lerryn Hotel
De Pass Road
Falmouth
TR11 4BJ
United Kingdom
COMPANY NUMBER 07917199 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
HOUSMAN HOTELS LTD

BALANCE SHEET

As at 31 January 2023
HOUSMAN HOTELS LTD

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 6,487 5,000
Tangible assets 4 816,516 812,063
823,003 817,063
Current assets
Stocks 5 3,000 2,000
Cash at bank and in hand 8,216 5,558
11,216 7,558
Creditors: amounts falling due within one year 6 ( 590,182) ( 456,623)
Net current liabilities (578,966) (449,065)
Total assets less current liabilities 244,037 367,998
Creditors: amounts falling due after more than one year 7 ( 308,687) ( 347,017)
Provision for liabilities 0 ( 2,524)
Net (liabilities)/assets ( 64,650) 18,457
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account ( 64,850 ) 18,257
Total shareholders' (deficit)/funds ( 64,650) 18,457

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 Housman Hotels Ltd (registered number: 07917199) were approved and authorised for issue by the Board of Directors on 03 April 2024. They were signed on its behalf by:

L P Housman
Director
HOUSMAN HOTELS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
HOUSMAN HOTELS LTD

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

Housman Hotels Ltd (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 The Lerryn Hotel, De Pass Road, Falmouth, TR11 4BJ, United Kingdom.

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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £64,650. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Goodwill 10 years straight line
Website costs 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 reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 25 % reducing balance

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Bank loans; and
•Bank balances.

All financial instruments are classified as basic.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Recognition and measurment

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 9

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 February 2022 20,000 0 20,000
Additions 0 4,004 4,004
At 31 January 2023 20,000 4,004 24,004
Accumulated amortisation
At 01 February 2022 15,000 0 15,000
Charge for the financial year 2,000 517 2,517
At 31 January 2023 17,000 517 17,517
Net book value
At 31 January 2023 3,000 3,487 6,487
At 31 January 2022 5,000 0 5,000

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2022 756,814 96,851 64,061 2,595 920,321
Additions 2,610 3,585 6,087 1,425 13,707
At 31 January 2023 759,424 100,436 70,148 4,020 934,028
Accumulated depreciation
At 01 February 2022 0 63,091 42,862 2,305 108,258
Charge for the financial year 0 5,232 3,742 280 9,254
At 31 January 2023 0 68,323 46,604 2,585 117,512
Net book value
At 31 January 2023 759,424 32,113 23,544 1,435 816,516
At 31 January 2022 756,814 33,760 21,199 290 812,063

5. Stocks

2023 2022
£ £
Stocks 3,000 2,000

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 50,355 47,023
Other taxation and social security 66,950 13,460
Other creditors 472,877 396,140
590,182 456,623

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

2023 2022
£ £
Bank loans 281,694 302,155
Other creditors 26,993 44,862
308,687 347,017

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Class A shares of £ 1.00 each 100 100
50 Ordinary Class B shares of £ 1.00 each 50 50
50 Ordinary Class C shares of £ 1.00 each 50 50
200 200