Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited) 00197328 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is of management of properties and the investment of surplus funds Digita Accounts Production Advanced 6.30.9574.0 true true 00197328 2023-01-01 2023-12-31 00197328 2023-12-31 00197328 bus:OrdinaryShareClass1 2023-12-31 00197328 bus:PreferenceShareClass1 2023-12-31 00197328 core:OtherReservesSubtotal 2023-12-31 00197328 core:RetainedEarningsAccumulatedLosses 2023-12-31 00197328 core:ShareCapital 2023-12-31 00197328 core:CurrentFinancialInstruments 2023-12-31 00197328 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00197328 bus:SmallEntities 2023-01-01 2023-12-31 00197328 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00197328 bus:FullAccounts 2023-01-01 2023-12-31 00197328 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00197328 bus:RegisteredOffice 2023-01-01 2023-12-31 00197328 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 00197328 bus:Director3 2023-01-01 2023-12-31 00197328 bus:Director5 2023-01-01 2023-12-31 00197328 bus:Director6 2023-01-01 2023-12-31 00197328 bus:Director7 2023-01-01 2023-12-31 00197328 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 00197328 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 00197328 bus:PreferenceShareClass1 2023-01-01 2023-12-31 00197328 bus:PreferenceShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 00197328 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00197328 core:LandBuildings 2023-01-01 2023-12-31 00197328 countries:EnglandWales 2023-01-01 2023-12-31 00197328 2022-12-31 00197328 2022-01-01 2022-12-31 00197328 2022-12-31 00197328 bus:OrdinaryShareClass1 2022-12-31 00197328 bus:PreferenceShareClass1 2022-12-31 00197328 core:OtherReservesSubtotal 2022-12-31 00197328 core:RetainedEarningsAccumulatedLosses 2022-12-31 00197328 core:ShareCapital 2022-12-31 00197328 core:CurrentFinancialInstruments 2022-12-31 00197328 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00197328 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-01-01 2022-12-31 00197328 bus:PreferenceShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00197328

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Company Information

Directors

S N Bailey King

R Bell

H S Bailey-King

V K Bailey-King

L E Bailey-King

Company secretary

R Bell

Registered office

Old Bank Chambers
Horncastle
Lincolnshire
LN9 5HY

Solicitors

Bridge McFarland
9 Cornmarket
Louth
Lincolnshire
LN11 9PY

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

(Registration number: 00197328)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,355,000

1,285,000

Current assets

 

Debtors

5

4,773

5,297

Investments

6

371,069

349,246

Cash at bank and in hand

 

30,003

37,531

 

405,845

392,074

Creditors: Amounts falling due within one year

7

(13,557)

(7,184)

Net current assets

 

392,288

384,890

Total assets less current liabilities

 

1,747,288

1,669,890

Provisions for liabilities

(271,479)

(261,738)

Net assets

 

1,475,809

1,408,152

Capital and reserves

 

Called up share capital

8

8,000

8,000

Other reserves

966,833

933,110

Retained earnings

500,976

467,042

Shareholders' funds

 

1,475,809

1,408,152

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2024 and signed on its behalf by:
 

.........................................
S N Bailey King
Director

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 00197328.

The address of its registered office is:
Old Bank Chambers
Horncastle
Lincolnshire
LN9 5HY

These financial statements cover the individual entity, Golf Hotel (Woodhall Spa) Limited.

These financial statements were authorised for issue by the Board on 18 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Depreciation

Asset class

Depreciation method and rate

Land and buildings

No depreciation charged

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director, Robert Bell, who is a professional valuer. Observable market prices are used, and are adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2022 - 0).

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investment properties

2023
£

At 1 January

1,285,000

Fair value adjustments

70,000

At 31 December

1,355,000

In the opinion of the director, Robert Bell, who is a professional valuer there has been a total of £70,000 uplift in the fair value of the investment properties.

5

Debtors

Current

2023
£

2022
£

Prepayments

4,773

5,297

 

4,773

5,297

6

Current asset investments

2023
£

2022
£

Other investments

371,069

349,246

Listed investments

Investments having a net book value of £371,069 (31 December 2022 - £349,246) are listed on a recognised stock exchange and had a market value of £371,069 at the end of the year (31 December 2022 - £349,246).

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,355

7,184

Taxation and social security

8,202

-

13,557

7,184

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

7,000 Ordinary shares of £1 each

7,000

7,000

7,000

7,000

1,000 4.2% preference shares of £1 each

1,000

1,000

1,000

1,000

 

8,000

8,000

8,000

8,000

 

Vere Land Holdings Limited (Formerly Golf Hotel (Woodhall Spa) Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1.00 per each Ordinary share

 

7,000

 

7,000

Interim dividend of £1.00 per each Preference share

 

1,000

 

1,000

   

8,000

 

8,000