IRIS Accounts Production v23.3.1.45 09338306 Board of Directors 1.10.22 30.9.23 30.9.23 14.2.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093383062022-09-30093383062023-09-30093383062022-10-012023-09-30093383062021-09-30093383062021-10-012022-09-30093383062022-09-3009338306ns10:Originalns15:EnglandWales2022-10-012023-09-3009338306ns14:PoundSterlingns10:Original2022-10-012023-09-3009338306ns10:Originalns10:Director12022-10-012023-09-3009338306ns10:Original2022-10-012023-09-3009338306ns10:Original2023-09-3009338306ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3009338306ns10:Originalns10:SmallEntities2022-10-012023-09-3009338306ns10:Originalns10:Audited2022-10-012023-09-3009338306ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3009338306ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3009338306ns10:Originalns10:AbridgedAccounts2022-10-012023-09-3009338306ns10:Original12022-10-012023-09-3009338306ns10:Originalns10:Director22022-10-012023-09-3009338306ns10:Originalns10:RegisteredOffice2022-10-012023-09-3009338306ns10:Original2022-09-3009338306ns10:Originalns5:CurrentFinancialInstruments2023-09-3009338306ns10:Originalns5:CurrentFinancialInstruments2022-09-3009338306ns10:Originalns5:Non-currentFinancialInstruments2023-09-3009338306ns10:Originalns5:Non-currentFinancialInstruments2022-09-3009338306ns5:ShareCapitalns10:Original2023-09-3009338306ns5:ShareCapitalns10:Original2022-09-3009338306ns10:Originalns5:RevaluationReserve2023-09-3009338306ns10:Originalns5:RevaluationReserve2022-09-3009338306ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3009338306ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3009338306ns10:Originalns5:NetGoodwill2022-10-012023-09-3009338306ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-10-012023-09-3009338306ns10:Originalns5:FurnitureFittings2022-10-012023-09-3009338306ns10:Original2021-10-012022-09-3009338306ns10:Original2022-09-3009338306ns5:Securedns10:Original2023-09-3009338306ns5:Securedns10:Original2022-09-30
REGISTERED NUMBER: 09338306 (England and Wales)







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: Mr R J Webb
Mrs A J Webb





REGISTERED OFFICE: Grand Hotel
South Promeande
Lytham St Annes
Lancashire
FY8 1NB





REGISTERED NUMBER: 09338306 (England and Wales)





AUDITORS: Ashworth Treasure Limited
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 3,893,542 3,987,106
3,893,542 3,987,106

CURRENT ASSETS
Stocks 21,957 18,932
Debtors 5,793 20,375
Cash at bank and in hand 459,501 321,223
487,251 360,530
CREDITORS
Amounts falling due within one year 2,287,440 2,150,171
NET CURRENT LIABILITIES (1,800,189 ) (1,789,641 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,093,353

2,197,465

CREDITORS
Amounts falling due after more than one
year

6

(1,719,920

)

(1,807,786

)

PROVISIONS FOR LIABILITIES (253,747 ) (203,210 )
NET ASSETS 119,686 186,469

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 569,731 615,310
Retained earnings (451,045 ) (429,841 )
SHAREHOLDERS' FUNDS 119,686 186,469

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 February 2024 and were signed on its behalf by:





Mr R J Webb - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance and 10% on cost

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 17 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022
and 30 September 2023 200,000
AMORTISATION
At 1 October 2022
and 30 September 2023 200,000
NET BOOK VALUE

At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 October 2022 5,037,810
Additions 14,712
At 30 September 2023 5,052,522
DEPRECIATION
At 1 October 2022 1,050,704
Charge for year 108,276
At 30 September 2023 1,158,980
NET BOOK VALUE
At 30 September 2023 3,893,542
At 30 September 2022 3,987,106

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 1,851,587 1,939,453

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.

Victoria Reynolds (Senior Statutory Auditor)
for and on behalf of Ashworth Treasure Limited

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.