Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr P B M Cliff 18/01/1991 Mr P G Davies Mrs S J Howard 09/05/2023 Mrs S Cliff 11 September 2024 The principal activity of the company is the operation of the Bedford Hotel in Tavistock and the Two Bridges Hotel in Dartmoor. 02345854 2024-04-30 02345854 bus:Director1 2024-04-30 02345854 bus:Director3 2024-04-30 02345854 2023-04-30 02345854 core:CurrentFinancialInstruments 2024-04-30 02345854 core:CurrentFinancialInstruments 2023-04-30 02345854 core:Non-currentFinancialInstruments 2024-04-30 02345854 core:Non-currentFinancialInstruments 2023-04-30 02345854 core:ShareCapital 2024-04-30 02345854 core:ShareCapital 2023-04-30 02345854 core:RevaluationReserve 2024-04-30 02345854 core:RevaluationReserve 2023-04-30 02345854 core:RetainedEarningsAccumulatedLosses 2024-04-30 02345854 core:RetainedEarningsAccumulatedLosses 2023-04-30 02345854 core:LandBuildings 2023-04-30 02345854 core:FurnitureFittings 2023-04-30 02345854 core:LandBuildings 2024-04-30 02345854 core:FurnitureFittings 2024-04-30 02345854 bus:OrdinaryShareClass1 2024-04-30 02345854 2023-05-01 2024-04-30 02345854 bus:FilletedAccounts 2023-05-01 2024-04-30 02345854 bus:SmallEntities 2023-05-01 2024-04-30 02345854 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02345854 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02345854 bus:Director1 2023-05-01 2024-04-30 02345854 bus:Director2 2023-05-01 2024-04-30 02345854 bus:Director3 2023-05-01 2024-04-30 02345854 bus:CompanySecretary1 2023-05-01 2024-04-30 02345854 core:FurnitureFittings 2023-05-01 2024-04-30 02345854 2022-05-01 2023-04-30 02345854 core:LandBuildings 2023-05-01 2024-04-30 02345854 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02345854 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 02345854 1 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02345854 (England and Wales)

WARM WELCOME HOTELS (SOUTHERN) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

WARM WELCOME HOTELS (SOUTHERN) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

WARM WELCOME HOTELS (SOUTHERN) LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
WARM WELCOME HOTELS (SOUTHERN) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mr P B M Cliff
Mr P G Davies
Mrs S J Howard (Appointed 09 May 2023)
SECRETARIES Mrs S Cliff
Mrs L Davies
REGISTERED OFFICE 9 Lady Park Road
Livermead
Torquay
TQ2 6UA
England
United Kingdom
BUSINESS ADDRESS Bedford Hotel
1 Plymouth Road
Tavistock
Devon
PL19 8BB
COMPANY NUMBER 02345854 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
WARM WELCOME HOTELS (SOUTHERN) LIMITED

BALANCE SHEET

As at 30 April 2024
WARM WELCOME HOTELS (SOUTHERN) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,797,743 3,873,871
3,797,743 3,873,871
Current assets
Stocks 57,676 46,174
Debtors 4 55,793 64,887
Cash at bank and in hand 219,943 108,506
333,412 219,567
Creditors: amounts falling due within one year 5 ( 560,645) ( 537,973)
Net current liabilities (227,233) (318,406)
Total assets less current liabilities 3,570,510 3,555,465
Creditors: amounts falling due after more than one year 6 ( 1,870,355) ( 1,872,887)
Provision for liabilities ( 134,312) ( 127,000)
Net assets 1,565,843 1,555,578
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 1,565,025 1,601,746
Profit and loss account 718 ( 46,268 )
Total shareholder's funds 1,565,843 1,555,578

For the financial year ending 30 April 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 Warm Welcome Hotels (Southern) Limited (registered number: 02345854) were approved and authorised for issue by the Board of Directors on 11 September 2024. They were signed on its behalf by:

Mr P B M Cliff
Director
WARM WELCOME HOTELS (SOUTHERN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
WARM WELCOME HOTELS (SOUTHERN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Warm Welcome Hotels (Southern) 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 9 Lady Park Road, Livermead, Torquay, TQ2 6UA, England, United Kingdom. The principal place of business is Bedford Hotel, 1 Plymouth Road, Tavistock, Devon, PL19 8BB.

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 Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered. Accommodation sales, including deposits received in advance, are recognised as turnover on the day of stay.

Employee benefits

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

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.

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/ reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Fixtures and fittings 15 % 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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 115 139

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 May 2023 4,134,755 2,129,712 6,264,467
Additions 0 33,979 33,979
At 30 April 2024 4,134,755 2,163,691 6,298,446
Accumulated depreciation
At 01 May 2023 570,201 1,820,395 2,390,596
Charge for the financial year 58,610 51,497 110,107
At 30 April 2024 628,811 1,871,892 2,500,703
Net book value
At 30 April 2024 3,505,944 291,799 3,797,743
At 30 April 2023 3,564,554 309,317 3,873,871

Included within the Net book value of Land and Building above is Leasehold property of £1,537,916 (2023 - 1,596,526).

Freehold property was revalued at £1,900,000 on 30 April 2013 by an independent valuer. The basis of this valuation was at open market value. The surplus on revaluation was credited to the Revaluation Reserve. This class of asset has a carrying amount at historical cost of £1,164,905 (2023 - £1,164,905). The depreciation on this historical cost is £nil (2023 - £nil).

Leasehold property was revalued at £2,270,000 on 30 April 2013 by an independent valuer. The basis of this valuation was at open market value. The surplus on revaluation was credited to the Revaluation Reserve. This class of asset has a carrying amount at depreciated historic cost of £744,017 (2023 - £765,906). The depreciation on this historical cost for the year is £21,888 (2023 - £21,888).

4. Debtors

2024 2023
£ £
Trade debtors 19,081 40,342
Amounts owed by Group undertakings 19,978 17,545
Prepayments 13,008 0
Other debtors 3,726 7,000
55,793 64,887

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 69,601 91,399
Accruals 90,846 117,808
Corporation tax 14,095 0
Other taxation and social security 156,907 154,270
Other creditors 229,196 174,496
560,645 537,973

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

2024 2023
£ £
Amounts owed to Group undertakings 1,870,355 1,872,887

7. Called-up share capital

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

8. Contingencies

Contingent liabilities

The company has mutually guaranteed the bank facilities of certain group companies. The contingent liability arising from those guarantees at 30 April 2024 amounted to £nil (2023: £nil).

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to Parent company 1,870,355 1,872,887

10. Ultimate controlling party

Parent Company:

Warm Welcome Management LimitedRegistered in England and Wales
The group accounts of this company are available to the public at Companies House.

The Ultimate parent company is Warm Welcome 2022 Limited, registered in England and Wales.