Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
3,797,743 | 3,873,871 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
333,412 | 219,567 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
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 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Revaluation reserve |
|
|
||
Profit and loss account |
|
(
|
||
Total shareholder's funds |
|
|
Directors' responsibilities:
The financial statements of Warm Welcome Hotels (Southern) Limited (registered number:
Mr P B M Cliff
Director |
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.
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 £.
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.
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.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Land and buildings | depreciated over the life of the lease |
Fixtures and fittings |
|
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Land and buildings | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 May 2023 |
|
|
|
||
Additions |
|
|
|
||
At 30 April 2024 |
|
|
|
||
Accumulated depreciation | |||||
At 01 May 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 30 April 2024 |
|
|
|
||
Net book value | |||||
At 30 April 2024 |
|
|
|
||
At 30 April 2023 |
|
|
|
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).
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by Group undertakings |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Amounts owed to Group undertakings |
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
Contingent liabilities
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Amounts owed to Parent company | 1,870,355 | 1,872,887 |
Parent Company:
|
The group accounts of this company are available to the public at Companies House. |