Company registration number 10620944 (England and Wales)
CELTIC MANOR SERVICE COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CELTIC MANOR SERVICE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
CELTIC MANOR SERVICE COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
1
1
Cash at bank and in hand
416,177
332,015
416,178
332,016
Creditors: amounts falling due within one year
4
(416,177)
(332,015)
Net current assets
1
1
Capital and reserves
-
-
Called up share capital
1
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 22 April 2024 and are signed on its behalf by:
Mr D C Matthews
Director
Company registration number 10620944 (England and Wales)
CELTIC MANOR SERVICE COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
£
Balance at 1 January 2022
1
Year ended 31 December 2022:
Profit and total comprehensive income
-
Balance at 31 December 2022
1
Year ended 31 December 2023:
Profit and total comprehensive income
-
Balance at 31 December 2023
1
CELTIC MANOR SERVICE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Celtic Manor Service Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Coldra Woods, Newport, NP18 1HQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of The Celtic Manor Resort Limited. These consolidated financial statements are available from its registered office, Celtic Manor Resort, Coldra Woods, Newport, United Kingdom, NP18 1HQ.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CELTIC MANOR SERVICE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
351
265
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1
1
CELTIC MANOR SERVICE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,026
1,192
Taxation and social security
292,412
233,486
Other creditors
122,739
97,337
416,177
332,015
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mr John Griffiths
Statutory Auditor:
UHY Hacker Young
Date of audit report:
23 April 2024
6
Related party transactions

In accordance with FRS 102 section 33.1A, transactions with other group undertakings wholly owned within The Celtic Manor Resort Limited group have not been disclosed in the financial statements.

 

At the year end the company owed £1,026 (2022: £1,192) to its parent company The Celtic Manor Resort Limited, this amount being included within amounts due to group undertakings within one year. At the year end the company was owed £1 (2022: £1) from its parent company The Celtic Manor Resort Limited in relation to unpaid share capital, this amount being included within other debtors due within one year.

7
Parent company

The company's parent company is The Celtic Manor Resort Limited, a company incorporated in England & Wales.

 

The ultimate parent company is Wesley Clover International Incorporation, a company incorporated in Canada.

 

The Celtic Manor Resort Limited is the parent of the smallest group of which the company is a member and for which group financial statements are prepared; Welsey Clover International Corporation is the parent of the largest group of which the company is a member and for which group financial statements are prepared.

 

The Celtic Manor Resort Limited's financial statements are available from the registered office, The Celtic Manor Resort Limited, Coldra Woods, Newport, United Kingdom, NP18 1HQ.

The directors consider Sir T H Matthews to be the ultimate controlling party; he is the principal shareholder of the ultimate parent company.

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