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REGISTERED NUMBER: 03527079 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 May 2023

for

Gosfield Hall Ltd

Gosfield Hall Ltd (Registered number: 03527079)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


Gosfield Hall Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: H Bramer
N Bramer





SECRETARY: H Bramer





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 03527079 (England and Wales)





AUDITORS: Cartwrights
Chartered Accountants and Business Advisors
Statutory Auditor
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Gosfield Hall Ltd (Registered number: 03527079)

Strategic Report
for the Year Ended 31 May 2023

The directors present their strategic report for the year ended 31 May 2023.

REVIEW OF BUSINESS
The company is a wedding venue provider, with 2 venues under its operation, the same as in the previous year.

The year to 31st May 2023 continued to present massive challenges for the company as having managed the challenges of the COVID pandemic outbreak it was then faced with significant supply chain inflationary costs and unparalleled energy price increases simultaneously.

Key performance indicators

Performance of the company is monitored internally using a variety of statutory and alternative performance measures (APMs) and key performance indicators (KPls). APMs are used where management considers they are more representative of underlying trading or in monitoring performance against the company's objectives.

Turnover is an important metric as it reflects the core underlying activities of the company by adding together the turnover from each venue.

Gross Margin is an important metric as it provides valuable insight into whether the company is pricing it's services appropriately.

Operating profit is an important metric as it is an indirect measure of efficiency. The higher the net profit, the more profitable the company's core business is.

Earnings before interest, tax, depreciation and amortisation ("EBITDA") is considered, by management, to be informative as it reflects operating profit adjusted for non-cash charges.

The figures for these 4 key performance measures are stated below:

2023 2022
Turnover £7,236,310 £7,315,362
Gross profit margin 81.72% 83.61%
Operating profit/(loss) £501,589 £1,373,073
EBITDA £794,737 £1,553,697


Turnover decreased 1% in the year as the UK economy moved out of the pandemic.

Operating profit and EBITDA reduced significantly in the year as expected, following the cessation of various government grants and local authority concessions, and due to the significant inflationary cost pressures in the UK particularly in relation to supply chain costs and energy costs. The company also incurred £1,160,000 of management fees (2022: £860,000) from the parent company for Head Office services provided.,


Gosfield Hall Ltd (Registered number: 03527079)

Strategic Report
for the Year Ended 31 May 2023

PRINCIPAL RISKS AND UNCERTAINTIES
In the course of normal business, the company continually assesses significant risks faced and takes action to mitigate the potential impacts. The principle risks (which is not intended to be a comprehensive analysis) facing the company are as follows:

Financial and liquidity

The general health of the UK economy and individuals disposable income is important to the company's success. The company manages any potential downturn in the economy by a policy of structuring payment plans for customers..

Operating capital - The availability of operating capital is crucial to ensuring that the company has sufficient funds to meet their liabilities as they fall due to suppliers and employees. The company manages this by reviewing the cash flow daily and tracks on a rolling year to ensure sufficient funds are available.

Operational risks

Customer service - The company relies on its teams to provide quality customer service. Teams are provided with rigorous training, covering customer service, digital tools to inform risk and mitigate thereafter to ensure that high standards and customer experience are maintained.

Health and safety - All staff are provided with comprehensive training to ensure they are all aware of the risks and how they can help to mitigate them.

ON BEHALF OF THE BOARD:





H Bramer - Director


15 January 2024

Gosfield Hall Ltd (Registered number: 03527079)

Report of the Directors
for the Year Ended 31 May 2023

The directors present their report with the financial statements of the company for the year ended 31 May 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a wedding venue provider.

DIVIDENDS
No dividends will be distributed for the year ended 31 May 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2022 to the date of this report.

H Bramer
N Bramer

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS
The auditors, Cartwrights, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





H Bramer - Director


15 January 2024

Report of the Independent Auditors to the Members of
Gosfield Hall Ltd

Opinion
We have audited the financial statements of Gosfield Hall Ltd (the 'company') for the year ended 31 May 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 May 2023 and of its 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 company 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 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Gosfield Hall Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Gosfield Hall Ltd


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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations, and that they remained alert to instances of non-compliance throughout the audit.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- based on our understanding of the company and industry, and through discussions with directors and key management, we identified any specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; and
- we assessed the extent of compliance with these laws and regulations through making enquiries of management and inspecting legal correspondence

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries, particularly focused around the year-end, to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates in the notes to the financial statements were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Report of the Independent Auditors to the Members of
Gosfield Hall Ltd


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.




Eric McIntyre FCCA (Senior Statutory Auditor)
for and on behalf of Cartwrights
Chartered Accountants and Business Advisors
Statutory Auditor
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

17 January 2024

Gosfield Hall Ltd (Registered number: 03527079)

Income Statement
for the Year Ended 31 May 2023

31/5/23 31/5/22
Notes £    £   

TURNOVER 7,236,310 7,315,362

Cost of sales (1,322,944 ) (1,199,218 )
GROSS PROFIT 5,913,366 6,116,144

Administrative expenses (5,267,218 ) (4,728,270 )
646,148 1,387,874

Other operating income - 24,374
OPERATING PROFIT 4 646,148 1,412,248


Interest payable and similar expenses 5 (27,674 ) (17,520 )
PROFIT BEFORE TAXATION 618,474 1,394,728

Tax on profit 6 (116,885 ) (21,655 )
PROFIT FOR THE FINANCIAL YEAR 501,589 1,373,073

Gosfield Hall Ltd (Registered number: 03527079)

Other Comprehensive Income
for the Year Ended 31 May 2023

31/5/23 31/5/22
Notes £    £   

PROFIT FOR THE YEAR 501,589 1,373,073


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

501,589

1,373,073

Gosfield Hall Ltd (Registered number: 03527079)

Balance Sheet
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 4,956,645 4,939,965

CURRENT ASSETS
Stocks 8 61,336 59,244
Debtors 9 13,834,800 11,222,258
Cash at bank and in hand 41,232 43,765
13,937,368 11,325,267
CREDITORS
Amounts falling due within one year 10 12,286,956 10,477,872
NET CURRENT ASSETS 1,650,412 847,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,607,057

5,787,360

CREDITORS
Amounts falling due after more than one year 11 (944,658 ) (653,024 )

PROVISIONS FOR LIABILITIES 13 (129,663 ) (103,189 )
NET ASSETS 5,532,736 5,031,147

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 5,532,636 5,031,047
SHAREHOLDERS' FUNDS 5,532,736 5,031,147

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2024 and were signed on its behalf by:





H Bramer - Director


Gosfield Hall Ltd (Registered number: 03527079)

Statement of Changes in Equity
for the Year Ended 31 May 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2021 100 3,657,974 3,658,074

Changes in equity
Total comprehensive income - 1,373,073 1,373,073
Balance at 31 May 2022 100 5,031,047 5,031,147

Changes in equity
Total comprehensive income - 501,589 501,589
Balance at 31 May 2023 100 5,532,636 5,532,736

Gosfield Hall Ltd (Registered number: 03527079)

Cash Flow Statement
for the Year Ended 31 May 2023

31/5/23 31/5/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 114,075 976,020
Interest paid (27,674 ) (17,520 )
- (897,025 )
Tax paid 78,156 25,097
Net cash from operating activities 164,557 86,572

Cash flows from investing activities
Purchase of tangible fixed assets (168,450 ) (75,892 )
Sale of tangible fixed assets 1,360 -
Net cash from investing activities (167,090 ) (75,892 )

(Decrease)/increase in cash and cash equivalents (2,533 ) 10,680
Cash and cash equivalents at beginning of
year

2

43,765

33,085

Cash and cash equivalents at end of year 2 41,232 43,765

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Cash Flow Statement
for the Year Ended 31 May 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31/5/23 31/5/22
£    £   
Profit before taxation 618,474 1,394,728
Depreciation charges 148,589 141,449
Government grants - (24,374 )
Finance costs 27,674 17,520
794,737 1,529,323
Increase in stocks (2,092 ) (25,661 )
(Increase)/decrease in trade and other debtors (590,642 ) 155,599
Decrease in trade and other creditors (87,928 ) (683,241 )
Cash generated from operations 114,075 976,020

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 May 2023
31/5/23 1/6/22
£    £   
Cash and cash equivalents 41,232 43,765
Year ended 31 May 2022
31/5/22 1/6/21
£    £   
Cash and cash equivalents 43,765 33,085


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/6/22 Cash flow At 31/5/23
£    £    £   
Net cash
Cash at bank and in hand 43,765 (2,533 ) 41,232
43,765 (2,533 ) 41,232
Debt
Debts falling due within 1 year (150,000 ) 86,439 (63,561 )
Debts falling due after 1 year (205,221 ) 80,056 (125,165 )
(355,221 ) 166,495 (188,726 )
Total (311,456 ) 163,962 (147,494 )

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Gosfield Hall Ltd 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" 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.

Turnover is recognised on the day of the wedding event when the income has been earned and the service has been provided to 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.

Land and buildings (freehold) - Nil
Leasehold buildings - 10% on cost
Fixtures, fittings & equipment - 10-15% on cost
Motor vehicles - 20% on cost
Plant and machinery - 15% on costs
Computer Equipment - 33% on cost

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.

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.

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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
31/5/23 31/5/22
£    £   
Wages and salaries 2,536,632 2,199,411
Social security costs 165,304 146,440
Other pension costs 46,604 18,903
2,748,540 2,364,754

The average number of employees during the year was as follows:
31/5/23 31/5/22

144 137

31/5/23 31/5/22
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

31/5/23 31/5/22
£    £   
Hire of plant and machinery 142,524 123,091
Other operating leases 300,000 400,000
Depreciation - owned assets 150,410 141,450
Auditors' remuneration 14,305 13,987

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/5/23 31/5/22
£    £   
Bank loan interest 27,674 17,520

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/5/23 31/5/22
£    £   
Current tax:
UK corporation tax 77,998 17,551
Corporation tax adjustment 12,413 -
Total current tax 90,411 17,551

Deferred tax 26,474 4,104
Tax on profit 116,885 21,655

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31/5/23 31/5/22
£    £   
Profit before tax 618,474 1,394,728
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

117,510

264,998

Effects of:
Expenses not deductible for tax purposes 27,428 (22,459 )
Capital allowances in excess of depreciation (43,453 ) -
Depreciation in excess of capital allowances - 5,059
Utilisation of tax losses (23,486 ) (41,184 )
Adjustments to tax charge in respect of previous periods 12,412 -
Deferred tax 26,474 4,104
Group relief - (188,863 )
Total tax charge 116,885 21,655

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 3,916,877 704,175 2,172,244 20,549 6,813,845
Additions - - 168,450 - 168,450
Disposals - - (1,525 ) - (1,525 )
At 31 May 2023 3,916,877 704,175 2,339,169 20,549 6,980,770
DEPRECIATION
At 1 June 2022 - 363,100 1,490,939 19,841 1,873,880
Charge for year - 25,340 124,362 708 150,410
Eliminated on disposal - - (165 ) - (165 )
At 31 May 2023 - 388,440 1,615,136 20,549 2,024,125
NET BOOK VALUE
At 31 May 2023 3,916,877 315,735 724,033 - 4,956,645
At 31 May 2022 3,916,877 341,075 681,305 708 4,939,965

8. STOCKS
31/5/23 31/5/22
£    £   
Raw materials 61,336 59,244

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 356,545 240,068
Purchase ledger Debit Balances 39,216 -
Amounts owed by group undertakings 13,337,516 10,748,229
Other debtors 5,829 5,387
Tax - 108,120
Prepayments and accrued income 95,694 120,454
13,834,800 11,222,258

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts (see note 12) 63,561 150,000
Trade creditors 207,666 208,793
Incomplete sales 1,870,656 1,989,011
Sales ledger credit balance 198,582 823,934
Amounts owed to group undertakings 9,019,084 6,889,063
Tax 77,998 17,551
Social security and other taxes 48,692 92,733
VAT 743,696 231,892
Wages control account 20,717 28,689
Accruals and deferred income 36,304 46,206
12,286,956 10,477,872

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans (see note 12) 125,165 205,221
Sales Incomplete - More than 1
year 819,493 447,803
944,658 653,024

12. LOANS

An analysis of the maturity of loans is given below:

31/5/23 31/5/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 63,561 150,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 125,165 205,221

There are two Coronavirus Business Interruption bank loans included in the accounts of Gosfield Hall Limited which are provided by White Oak UK (CBILS) Limited repayable over a 24 month period and Nucleus Limited repayable over a 60 month period. the loans are both measured at amortised cost in the accounts and interest costs are recognised in the profit and loss account.

13. PROVISIONS FOR LIABILITIES
31/5/23 31/5/22
£    £   
Deferred tax
Accelerated capital allowances 129,663 103,189

Gosfield Hall Ltd (Registered number: 03527079)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

13. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 103,189
Charge to Income Statement during year 26,474
Balance at 31 May 2023 129,663

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 ordinary £1 100 100

15. RESERVES
Retained
earnings
£   

At 1 June 2022 5,031,047
Profit for the year 501,589
At 31 May 2023 5,532,636

16. ULTIMATE PARENT COMPANY

the ultimate parent company is Country House Weddings Holdings Limited, a company registered in England and Wales.

The ultimate controlling party is H Bramer, by virtue of shareholding.

17. CONTINGENT LIABILITIES

The company is party to a cross guarantee arrangement relating to borrowing of the group. Net indebtedness under these arrangements at 31 May 2023 was £6,910,247 (2022: £7,355,710)

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr H Bramer continues to own a freehold property from which the company trades. During the year the company paid £300,000 (2022: £400,000) in respect of rent for this property.

19. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.