REGISTERED NUMBER: |
Financial Statements |
for the Period 26 April 2022 to 30 April 2023 |
for |
The Pheasant Hotel (Harome) Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Period 26 April 2022 to 30 April 2023 |
for |
The Pheasant Hotel (Harome) Limited |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Contents of the Financial Statements |
for the Period 26 April 2022 to 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Pheasant Hotel (Harome) Limited |
Company Information |
for the Period 26 April 2022 to 30 April 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
2 Hallgarth |
Pickering |
North Yorkshire |
YO18 7AW |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Balance Sheet |
30 April 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Notes to the Financial Statements |
for the Period 26 April 2022 to 30 April 2023 |
1. | STATUTORY INFORMATION |
The Pheasant Hotel (Harome) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 period comprises current and deferred tax recognised recognised in the Statement of Income and Retained Earnings, 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 period 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. |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Notes to the Financial Statements - continued |
for the Period 26 April 2022 to 30 April 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. |
Going concern |
The directors have carried out a review of the company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these accounts. |
A detailed review of cashflows, projections and the trading position since the year end has enabled the directors to consider whether the company has the necessary cashflow to continue as a going concern and ensure its financial liabilities can be met. |
The directors have further carried out a review of the ultimate parent company's ability to continue as a going concern over the same forecast period. |
Based on the review of the financial projections, the directors are satisfied that adequate financial resources are available to enable the company to meet its obligations, and therefore that it is appropriate to adopt the going concern basis in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 30 April 2023 |
AMORTISATION |
Amortisation for period |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Notes to the Financial Statements - continued |
for the Period 26 April 2022 to 30 April 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
Additions |
At 30 April 2023 |
DEPRECIATION |
Charge for period |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
6. | STOCKS |
£ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Prepayments and accrued income |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | 97,362 |
Social security and other taxes |
VAT | 109,853 |
Other creditors |
Accruals and deferred income |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Notes to the Financial Statements - continued |
for the Period 26 April 2022 to 30 April 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 758,900 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
HSBC UK Bank PLC has a fixed and floating charge over all the company's asset. This included a legal mortgage over the Freehold Property. |
11. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Provided during period |
Balance at 30 April 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 2,116,512 |
2,116,512 Ordinary shares of £1 each were allotted and fully paid for |
EACH SHARE HAS EQUAL VOTING RIGHTS, HAS EQUAL RIGHTS TO DIVIDENDS AND HAS EQUAL DISTRIBUTION RIGHTS ON A WINDING UP. |
The Pheasant Hotel (Harome) Limited (Registered number: 14070774) |
Notes to the Financial Statements - continued |
for the Period 26 April 2022 to 30 April 2023 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
The company was unable to provide supporting information regarding the balance of vouchers held in other creditors and deposits held in accruals and deferred income at the year end. We were unable to undertake substantive testing on the balances at the year end or to verify by alternative means. Consequently, we were unable to determine whether any adjustment to this amount was necessary. |
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 re 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. |
for and on behalf of |
14. | CONTINGENT LIABILITIES |
As at the 30 April 2023, a contingent liability of £200,000 (due 16 December 2023) was in place in relation to the purchase of its trading assets during the year. As at the reporting date, although the payment was probable, the business was unable to reliably estimate the outflow. |
15. | CAPITAL COMMITMENTS |
£ |
Contracted but not provided for in the |
financial statements |
16. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |