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Company No: 04051321 (England and Wales)

THE CROWN HOTEL (WETHERAL) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

THE CROWN HOTEL (WETHERAL) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

THE CROWN HOTEL (WETHERAL) LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
THE CROWN HOTEL (WETHERAL) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Carolina Aspillaga (Appointed 01 February 2024)
Jolanta Bednarczyk-Palonka (Resigned 01 February 2024)
Christopher William Mclaughlin
Jean Johannes Nel
REGISTERED OFFICE The Crown Hotel Crown Hotel
Wetheral
Carlisle
CA4 8ES
United Kingdom
COMPANY NUMBER 04051321 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
THE CROWN HOTEL (WETHERAL) LIMITED

BALANCE SHEET

As at 31 January 2024
THE CROWN HOTEL (WETHERAL) LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 10,131 11,711
Tangible assets 4 3,890,895 3,525,539
3,901,026 3,537,250
Current assets
Stocks 5 36,929 38,988
Debtors 6 50,020 119,159
Cash at bank and in hand 7 72,545 21,754
159,494 179,901
Creditors: amounts falling due within one year 8 ( 374,241) ( 435,518)
Net current liabilities (214,747) (255,617)
Total assets less current liabilities 3,686,279 3,281,633
Creditors: amounts falling due after more than one year 9 ( 794,303) ( 941,965)
Provision for liabilities 10 ( 246,543) ( 102,888)
Net assets 2,645,433 2,236,780
Capital and reserves
Called-up share capital 11 100 100
Profit and loss account 2,645,333 2,236,680
Total shareholder's funds 2,645,433 2,236,780

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Crown Hotel (Wetheral) Limited (registered number: 04051321) were approved and authorised for issue by the Board of Directors on 31 July 2024. They were signed on its behalf by:

J J Nel
Director
THE CROWN HOTEL (WETHERAL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
THE CROWN HOTEL (WETHERAL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Crown Hotel (Wetheral) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Crown Hotel Crown Hotel, Wetheral, Carlisle, CA4 8ES, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of running a hotel and leisure facilities. Turnover is shown net of value added tax and discounts.

Turnover arising through the subscriptions to the leisure facility is recognised over the period for which services are available and the subscription term.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 100 years straight line
Fixtures and fittings 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 66 79

3. Intangible assets

Computer software Total
£ £
Cost
At 01 February 2023 15,796 15,796
At 31 January 2024 15,796 15,796
Accumulated amortisation
At 01 February 2023 4,085 4,085
Charge for the financial year 1,580 1,580
At 31 January 2024 5,665 5,665
Net book value
At 31 January 2024 10,131 10,131
At 31 January 2023 11,711 11,711

4. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 February 2023 3,550,252 1,544,789 5,095,041
Additions 386,021 175,226 561,247
Disposals 0 ( 30,043) ( 30,043)
At 31 January 2024 3,936,273 1,689,972 5,626,245
Accumulated depreciation
At 01 February 2023 575,150 994,352 1,569,502
Charge for the financial year 38,661 132,461 171,122
Disposals 0 ( 5,274) ( 5,274)
At 31 January 2024 613,811 1,121,539 1,735,350
Net book value
At 31 January 2024 3,322,462 568,433 3,890,895
At 31 January 2023 2,975,102 550,437 3,525,539

5. Stocks

2024 2023
£ £
Stocks 36,929 38,988

6. Debtors

2024 2023
£ £
Trade debtors 22,722 40,159
Other debtors 27,298 79,000
50,020 119,159

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 72,545 21,754

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 64,234 183,398
Other taxation and social security 132,897 52,105
Obligations under finance leases and hire purchase contracts 10,013 15,445
Other creditors 167,097 184,570
374,241 435,518

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 0 10,013
Other creditors 794,303 931,952
794,303 941,965

10. Provision for liabilities

2024 2023
£ £
Deferred tax 246,543 102,888

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100

12. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Kronen Hotels Loan 794,303 931,952

13. Ultimate controlling party

Parent Company:

Kronen Hotels Ltd
Jersey