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REGISTERED NUMBER: 03719697 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ROSEMUNDY HOUSE HOTEL LIMITED

ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROSEMUNDY HOUSE HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: D Faulkner
K N Faulkner
M P Faulkner





SECRETARY: D Faulkner





REGISTERED OFFICE: 5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 03719697 (England and Wales)





ACCOUNTANTS: Whitakers
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,503,521 2,238,129
2,503,521 2,238,129

CURRENT ASSETS
Stocks 3,050 2,950
Debtors 6 3,533 46,043
Cash at bank and in hand 125,620 169,428
132,203 218,421
CREDITORS
Amounts falling due within one year 7 293,383 231,749
NET CURRENT LIABILITIES (161,180 ) (13,328 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,342,341

2,224,801

CREDITORS
Amounts falling due after more than one
year

8

(730,638

)

(760,359

)

PROVISIONS FOR LIABILITIES (6,713 ) (6,675 )
NET ASSETS 1,604,990 1,457,767

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,604,988 1,457,765
SHAREHOLDERS' FUNDS 1,604,990 1,457,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:




K N Faulkner - Director



M P Faulkner - Director


ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Rosemundy House Hotel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - No depreciation
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

No depreciation is charged in respect of the company's freehold property, as it is the company's policy to maintain it's freehold premises in such a continual state of good repair, that the value is not adversely affected by the passage of time.

Consequently, the directors are of the opinion that the residual value of the freehold property will be at least it's historical cost, and that any charge for depreciation would therefore be negligiable.


Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 40,000
AMORTISATION
At 1 June 2023
and 31 May 2024 40,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 2,187,385 177,371 230,560
Additions 262,403 4,450 -
At 31 May 2024 2,449,788 181,821 230,560
DEPRECIATION
At 1 June 2023 - 156,370 215,790
Charge for year - 3,941 2,215
At 31 May 2024 - 160,311 218,005
NET BOOK VALUE
At 31 May 2024 2,449,788 21,510 12,555
At 31 May 2023 2,187,385 21,001 14,770

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 23,405 25,813 2,644,534
Additions - 11,085 277,938
At 31 May 2024 23,405 36,898 2,922,472
DEPRECIATION
At 1 June 2023 10,243 24,002 406,405
Charge for year 3,290 3,100 12,546
At 31 May 2024 13,533 27,102 418,951
NET BOOK VALUE
At 31 May 2024 9,872 9,796 2,503,521
At 31 May 2023 13,162 1,811 2,238,129

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors - 42,097
Prepayments and accrued income 3,533 3,946
3,533 46,043

ROSEMUNDY HOUSE HOTEL LIMITED (REGISTERED NUMBER: 03719697)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 88,500 98,500
Trade creditors 18,531 20,291
Pension liability 1,940 1,642
Tax 54,770 13,205
Social security and other taxes 3,160 2,881
VAT 46,924 40,945
Other creditors 61,546 21,350
Directors' current accounts 199 2,473
Accruals and deferred income 17,813 30,462
293,383 231,749

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loan over 5 years 730,638 760,359

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 730,638 760,359

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 819,138 858,859

10. RELATED PARTY DISCLOSURES

The company charged rent of £24,000 (2023 - £7,000) to Lowenac Hotel Limited, a company in which Mr D Faulkner has a 50% interest.

At 31 May 2024, the company owed £2,903 to Lowenac Hotel Limited, a company controlled by Mr D Faulkner, Mr K N Faulkner and Mr M P Faulkner, with the balance being repayable on demand. (At 31 May 2023, the company was owed £42,097 from Lowenac Hotel Limited).

11. ULTIMATE CONTROLLING PARTY

The company is controlled by it's director, Mr D Faulkner, by virtue of the fact that he owns one hundred percent of the company's ordinary issued share capital