REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
The Grand @ Grasmere Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
The Grand @ Grasmere Limited |
The Grand @ Grasmere Limited (Registered number: 09338306) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Grand @ Grasmere Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
17-19 Park Street |
Lytham |
Lancashire |
FY8 5LU |
The Grand @ Grasmere Limited (Registered number: 09338306) |
Abridged Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
The Grand @ Grasmere Limited (Registered number: 09338306) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
The Grand @ Grasmere Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about The Grand @ Grasmere Limited as an individual company. As a subsidiary undertaking the financial information is included by full consolidation in the consolidated financial statements of it's parent company, Grand (St. Annes) Limited, a company registered in England. |
Related party exemption |
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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, was amortised evenly over its estimated useful life of five years. Goodwill has been fully amortised. |
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. |
Tangible fixed assets |
Fixtures and fittings | - |
Freehold land and buildings are initially stated at cost and subsequently at valuation. Fixtures and fittings are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition. |
Assets that have been revalued are subject to subsequent revaluations performed with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the balance sheet date. The valuations are performed by a qualified external valuer. |
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. |
The Grand @ Grasmere Limited (Registered number: 09338306) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
The Grand @ Grasmere Limited (Registered number: 09338306) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 30 September 2023 is represented by: |
Totals |
£ |
Valuation in 2017 | 137,548 |
Valuation in 2020 | 524,590 |
Valuation in 2022 | 23,726 |
Cost | 4,366,658 |
5,052,522 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 2,821,909 | 2,821,909 |
Freehold land and buildings were valued on an open market basis on 10 March 2022 by Fleurets . |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable by instalments |
Bank loans | 1,193,253 | 1,281,119 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured by a legal charge over land and buildings, together with a debenture and cross guarantee between The Grand @ Grasmere Limited and Grand Hotel (St. Annes) Limited. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
The company has a composite guarantee structure with its bankers in respect of Grand Hotel (St. Annes) Limited. The amount of indebtedness as at 30 September 2023 of the Grand Hotel (St. Annes) Limited was £3,492,273 (2022: £3,657,999). |
10. | RELATED PARTY DISCLOSURES |
During the period, the company paid £nil (2022: £15,806) in respect of rent to the trustees of the Grand Hotel (St. Annes) Limited pension scheme. |