Ynyshir Hall Holdings Limited 11421787 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Hotels and similar accommodation Digita Accounts Production Advanced 6.30.9574.0 true 11421787 2023-01-01 2023-12-31 11421787 2023-12-31 11421787 core:RetainedEarningsAccumulatedLosses 2023-12-31 11421787 core:ShareCapital 2023-12-31 11421787 core:CurrentFinancialInstruments 2023-12-31 11421787 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11421787 core:Non-currentFinancialInstruments 2023-12-31 11421787 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11421787 core:LandBuildings 2023-12-31 11421787 bus:SmallEntities 2023-01-01 2023-12-31 11421787 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11421787 bus:FilletedAccounts 2023-01-01 2023-12-31 11421787 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11421787 bus:RegisteredOffice 2023-01-01 2023-12-31 11421787 bus:Director1 2023-01-01 2023-12-31 11421787 bus:Director2 2023-01-01 2023-12-31 11421787 bus:Director3 2023-01-01 2023-12-31 11421787 bus:Director4 2023-01-01 2023-12-31 11421787 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11421787 core:LeaseholdImprovements 2023-01-01 2023-12-31 11421787 core:OtherRelatedParties 2023-01-01 2023-12-31 11421787 countries:EnglandWales 2023-01-01 2023-12-31 11421787 2022-12-31 11421787 core:LandBuildings 2022-12-31 11421787 2022-01-01 2022-12-31 11421787 2022-12-31 11421787 core:RetainedEarningsAccumulatedLosses 2022-12-31 11421787 core:ShareCapital 2022-12-31 11421787 core:CurrentFinancialInstruments 2022-12-31 11421787 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11421787 core:Non-currentFinancialInstruments 2022-12-31 11421787 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 11421787 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 11421787

Ynyshir Hall Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Ynyshir Hall Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Ynyshir Hall Holdings Limited

Company Information

Directors

Ms JA Crouch

Miss AD Eiriksson

Dr JA Talbot

Mrs B Archibald

Registered office

Ynyshir Hall
Eglwys Fach
Machynlleth
Powys
SY20 8TA

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Ynyshir Hall Holdings Limited

(Registration number: 11421787)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,317,224

1,317,224

Current assets

 

Debtors

5

33,722

61,444

Investments

6

1,101

1,101

Cash at bank and in hand

 

36,929

15,747

 

71,752

78,292

Creditors: Amounts falling due within one year

7

(362,557)

(286,961)

Net current liabilities

 

(290,805)

(208,669)

Total assets less current liabilities

 

1,026,419

1,108,555

Creditors: Amounts falling due after more than one year

7

(129,188)

(150,459)

Net assets

 

897,231

958,096

Capital and reserves

 

Called up share capital

991,100

991,100

Retained earnings

(93,869)

(33,004)

Shareholders' funds

 

897,231

958,096

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 1 August 2024 and signed on its behalf by:
 

.........................................
Miss AD Eiriksson
Director

   
     
 

Ynyshir Hall Holdings 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.

The address of its registered office is:
Ynyshir Hall
Eglwys Fach
Machynlleth
Powys
SY20 8TA
Wales

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

 

Ynyshir Hall Holdings Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ynyshir Hall Holdings Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Freehold property
£

Total
£

Cost or valuation

At 1 January 2023

1,317,224

1,317,224

At 31 December 2023

1,317,224

1,317,224

Depreciation

Carrying amount

At 31 December 2023

1,317,224

1,317,224

At 31 December 2022

1,317,224

1,317,224

Included within the net book value of land and buildings above is £1,317,224 (2022 - £1,317,224) in respect of freehold land and buildings.
 

 

Ynyshir Hall Holdings Limited

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

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

18,001

-

Other debtors

 

15,721

61,444

   

33,722

61,444

6

Current asset investments

2023
£

2022
£

Shares in group undertakings

1,101

1,101

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

23,033

24,795

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

338,024

140,667

Accruals and deferred income

 

1,500

1,500

Other creditors

 

-

119,999

 

362,557

286,961

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

129,188

150,459

Included within creditors: amounts falling due after more than one year is an amount of £37,057 (2022: £57,483) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Secured debts totalling £152,221 are included within creditors.

The bank borrowings are secured by a fixed and floating charge over all assets or undertakings of the business.

 

Ynyshir Hall Holdings Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

129,188

150,459

Current loans and borrowings

2023
£

2022
£

Bank borrowings

23,033

24,795

 

Ynyshir Hall Holdings Limited

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

9

Related party transactions

Summary of transactions with other related parties

Ynyshir Hall Holdings Limited is the holding company for it's wholly owned subsiduary, Plas Ynyshir Hall Hotel Limited, of Ynyshir Hall, Eglwysfach, Machynlleth, Powys, SY20 8TA. During the prior year it also became the holding company for a new wholly owned subsiduary (incorporated on 7 November 2022), Ynyshir Gwen Ltd of Ynyshir Restaurant And Rooms, Eglwys Fach, Machynlleth, United Kingdom, SY20 8TA.

Plas Ynyshir Hall Hotel Limited leases the property at Ynyshir Hall from Ynyshir Hall Holdings Limited for a sum of £60,000 per annum. As at 31 December 2023 there was accrued rent receivable of nil (2022:£60,000).