Mansion House Llansteffan Ltd 08182722 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of a hotel and restaurant. Digita Accounts Production Advanced 6.30.9574.0 Software true true 08182722 2023-10-01 2024-09-30 08182722 2024-09-30 08182722 bus:Director1 1 2024-09-30 08182722 bus:OrdinaryShareClass1 2024-09-30 08182722 core:RetainedEarningsAccumulatedLosses 2024-09-30 08182722 core:ShareCapital 2024-09-30 08182722 core:CurrentFinancialInstruments 2024-09-30 08182722 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08182722 core:Non-currentFinancialInstruments 2024-09-30 08182722 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 08182722 core:Goodwill 2024-09-30 08182722 core:FurnitureFittings 2024-09-30 08182722 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 08182722 core:OfficeEquipment 2024-09-30 08182722 bus:SmallEntities 2023-10-01 2024-09-30 08182722 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08182722 bus:FullAccounts 2023-10-01 2024-09-30 08182722 bus:RegisteredOffice 2023-10-01 2024-09-30 08182722 bus:Director1 2023-10-01 2024-09-30 08182722 bus:Director1 1 2023-10-01 2024-09-30 08182722 bus:Director2 2023-10-01 2024-09-30 08182722 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 08182722 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08182722 core:Goodwill 2023-10-01 2024-09-30 08182722 core:FurnitureFittings 2023-10-01 2024-09-30 08182722 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08182722 core:LeaseholdImprovements 2023-10-01 2024-09-30 08182722 core:OfficeEquipment 2023-10-01 2024-09-30 08182722 countries:AllCountries 2023-10-01 2024-09-30 08182722 2023-09-30 08182722 bus:Director1 1 2023-09-30 08182722 core:Goodwill 2023-09-30 08182722 core:FurnitureFittings 2023-09-30 08182722 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 08182722 core:OfficeEquipment 2023-09-30 08182722 2022-10-01 2023-09-30 08182722 2023-09-30 08182722 bus:Director1 1 2023-09-30 08182722 bus:OrdinaryShareClass1 2023-09-30 08182722 core:RetainedEarningsAccumulatedLosses 2023-09-30 08182722 core:ShareCapital 2023-09-30 08182722 core:CurrentFinancialInstruments 2023-09-30 08182722 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08182722 core:Non-currentFinancialInstruments 2023-09-30 08182722 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 08182722 core:FurnitureFittings 2023-09-30 08182722 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 08182722 core:OfficeEquipment 2023-09-30 08182722 bus:Director1 1 2022-10-01 2023-09-30 08182722 bus:Director1 1 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 08182722

Mansion House Llansteffan Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Mansion House Llansteffan Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Mansion House Llansteffan Ltd

Company Information

Directors

Mr D J Beaney

Mrs E W Beaney

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Mansion House Llansteffan Ltd

(Registration number: 08182722)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

573,711

704,693

Current assets

 

Stocks

7

9,829

10,000

Debtors

8

2,134

1,168

Cash at bank and in hand

 

24,462

12,320

 

36,425

23,488

Creditors: Amounts falling due within one year

9

(260,071)

(356,996)

Net current liabilities

 

(223,646)

(333,508)

Total assets less current liabilities

 

350,065

371,185

Creditors: Amounts falling due after more than one year

9

(279,398)

(333,049)

Net assets

 

70,667

38,136

Capital and reserves

 

Called up share capital

50,002

50,002

Profit and loss account

20,665

(11,866)

Total equity

 

70,667

38,136

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

 

Mansion House Llansteffan Ltd

(Registration number: 08182722)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
Mr D J Beaney
Director

.........................................
Mrs E W Beaney
Director

 
     
 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Pantyrathro
Llangain
Carmarthen
SA33 5AJ

These financial statements were authorised for issue by the Board on 23 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% Straight line

Fixtures & Fittings

10% Straight line

Property Improvements

Straight line over the useful life

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line

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.

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2023 - 36).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

18,805

21,300

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

30,000

30,000

At 30 September 2024

30,000

30,000

Amortisation

At 1 October 2023

30,000

30,000

At 30 September 2024

30,000

30,000

Carrying amount

At 30 September 2024

-

-

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

791,067

151,617

5,830

948,514

Additions

-

4,794

671

5,465

Disposals

(136,667)

-

-

(136,667)

At 30 September 2024

654,400

156,411

6,501

817,312

Depreciation

At 1 October 2023

116,489

122,392

4,940

243,821

Charge for the year

13,923

4,592

290

18,805

Eliminated on disposal

(19,025)

-

-

(19,025)

At 30 September 2024

111,387

126,984

5,230

243,601

Carrying amount

At 30 September 2024

543,013

29,427

1,271

573,711

At 30 September 2023

674,578

29,225

890

704,693

Included within the net book value of land and buildings above is £543,013 (2023 - £674,578) in respect of freehold land and buildings.
 

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

7

Stocks

2024
£

2023
£

Other inventories

9,829

10,000

8

Debtors

2024
£

2023
£

Prepayments

2,134

-

Other debtors

-

1,168

2,134

1,168

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

11

73,874

83,664

Trade creditors

 

33,651

122,770

Taxation and social security

 

30,772

28,677

Outstanding defined contribution pension costs

 

1,021

-

Corporation tax liability

 

2,760

-

Other creditors

 

117,993

121,885

 

260,071

356,996

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11, 12

279,398

333,049


Creditors include bank loans and overdrafts which are secured of £266,193 (2023 - £317,950).

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

50,002

50,002

50,002

50,002

         

11

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

192,319

234,285

Other borrowings

87,079

98,764

279,398

333,049

2024
£

2023
£

Current loans and borrowings

Bank borrowings

73,254

75,572

Bank overdrafts

620

8,092

73,874

83,664

 

Mansion House Llansteffan Ltd

Notes to the Financial Statements for the Year Ended 30 September 2024

12

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Other payments made to company by director
£

At 30 September 2024
£

Mr D J Beaney

Interest free loan repayable on demand

(98,765)

11,685

(87,079)

       
     

 

2023

At 1 October 2022
£

Advances to director
£

At 30 September 2023
£

Mr D J Beaney

Interest free loan repayable on demand

(117,616)

18,851

(98,765)