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Registration number: 12765548

Wentworth Hotel Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Wentworth Hotel Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Wentworth Hotel Investments Limited

Company Information

Director

Mr Michael George Ashby Pritt

Registered office

The Wentworth Hotel
Wentworth Road
Aldeburgh
Suffolk
IP15 5BD

Accountants

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

Wentworth Hotel Investments Limited

(Registration number: 12765548)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

4,516,120

4,193,709

Current assets

 

Debtors

5

9,430,899

7,083,880

Cash at bank and in hand

 

184,554

2,667,858

 

9,615,453

9,751,738

Creditors: Amounts falling due within one year

6

(91,031)

(99,520)

Net current assets

 

9,524,422

9,652,218

Total assets less current liabilities

 

14,040,542

13,845,927

Provisions for liabilities

(171,006)

(156,824)

Net assets

 

13,869,536

13,689,103

Capital and reserves

 

Called up share capital

7

13,600,000

13,600,000

Retained earnings

269,536

89,103

Shareholders' funds

 

13,869,536

13,689,103

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2024
 

.........................................
Mr Michael George Ashby Pritt
Director

 

Wentworth Hotel Investments 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:
The Wentworth Hotel
Wentworth Road
Aldeburgh
Suffolk
IP15 5BD
England

These financial statements were authorised for issue by the director on 30 August 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Wentworth Hotel Investments Limited

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

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.

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 debt securities 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.

Borrowings

Interest-free borrowings from the director are recorded at the transaction values.

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.

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.

 

Wentworth Hotel Investments Limited

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

Financial instruments

Classification
Financial instruments comprise investments in quoted shares, unit trusts and structured products.
 Recognition and measurement
Investments are initially recognised at transaction price.

Quoted shares, unit trusts and structured products are measured at fair value at the reporting date. Fair value is based on quoted market price. Changes in fair value are recognised in the profit and loss account.

Loan stocks are measured at cost less impairment at the reporting date.

 Impairment
Financial assets are reviewed at each reporting date to determine whether there are indications of an impairment in value. If there are such indications, the recoverable amount of the asset is estimated and if it is less than carrying value, an impairment loss is recognised. If the indications of impairment no longer apply in a subsequent accounting period, the amount provided may be credited back to profit and loss.

Current versus non-current classification

The investments held by the company are classified as non-current, the portfolios involved being considered long-term.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Wentworth Hotel Investments Limited

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

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

3,611,508

648,946

4,260,454

Additions

791,721

358,444

1,150,165

Disposals

(755,080)

(198,922)

(954,002)

Fair value adjustments

104,589

-

104,589

At 31 December 2023

3,752,738

808,468

4,561,206

Impairment

At 1 January 2023

-

66,744

66,744

Losses made/(reversed) in the period

-

(21,658)

(21,658)

At 31 December 2023

-

45,086

45,086

Carrying amount

At 31 December 2023

3,752,738

763,382

4,516,120

5

Debtors

Current

2023
£

2022
£

Amounts owed by group undertakings

9,424,068

7,074,160

Other debtors

6,831

9,720

 

9,430,899

7,083,880

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

33,096

33,594

Taxation and social security

 

-

14,078

Accruals and deferred income

 

7,800

7,800

Other creditors

 

50,135

44,048

 

91,031

99,520

 

Wentworth Hotel Investments Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

13,600,000

13,600,000

13,600,000

13,600,000

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

33,096

33,594

9

Related party transactions

Summary of transactions with other related parties

A balance of £33,096 (2022 - £33,594) was owed to the director at the year-end. This was interest-free and repayable on demand.
 

10

Financial instruments

Categorisation of financial instruments

2023
 £

2022
 £

Financial assets measured at fair value through profit or loss

3,752,737

3,611,508

Financial assets measured at fair value

Shares, unit trusts and structured products
Valued at quoted market price

The fair value is £3,752,737 (2022 - £3,611,508) and the change in value included in profit or loss is £104,589 (2022 - £(406,717)).

Derivatives

Structured investment products
Financial instruments include structured investment products with carrying values in the balance sheet totalling £196,632 (2022 - £285,439). The products involved typically provide a defined return over a fixed period which is dependent on the performance of underlying markets with a focus on capital preservation.