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REGISTERED NUMBER: 08775438 (England and Wales)















HERITAGE ESTATES (COCKLIFFE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


HERITAGE ESTATES (COCKLIFFE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J P Davies
Mrs C I Davies





REGISTERED OFFICE: Cockliffe Country House Hotel
Burntstump Hill
Calverton
Nottingham
Nottinghamshire
NG5 8QP





REGISTERED NUMBER: 08775438 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 2,308,786 2,050,774
2,308,786 2,050,774

CURRENT ASSETS
Inventories 9,910 8,779
Debtors 6 21,772 33,114
Cash at bank and in hand 37,475 3,363
69,157 45,256
CREDITORS
Amounts falling due within one year 7 705,599 514,561
NET CURRENT LIABILITIES (636,442 ) (469,305 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,672,344 1,581,469

CREDITORS
Amounts falling due after more than one year 8 (1,910,963 ) (1,928,056 )

PROVISIONS FOR LIABILITIES (154,400 ) (91,900 )
NET LIABILITIES (393,019 ) (438,487 )

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 551,624 364,124
Retained earnings (945,643 ) (803,611 )
SHAREHOLDERS' FUNDS (393,019 ) (438,487 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 25 October 2024 and were signed on its behalf by:





J P Davies - Director


HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Heritage Estates (Cockliffe) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Revenue
Revenue represents receipts for hotel rooms, restaurant takings and associated events, excluding value added tax. Income is recognised when services are provided.

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.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery etc - 15% on reducing balance and 25% on reducing balance.

Land and buildings have been revalued by the directors having given due consideration to properties of a similar nature and taking into account the condition of the land and buildings. No depreciation has been provided on the buildings.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Deferred tax has been provided on the revaluation of land and buildings taking into account indexation allowance available to the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
This financial year has shown Heritage Estates successful transition to being a market leading exclusive use weddings and events venue, with revenue increasing, future sales growing and sustained focus on customer service, product development, and commercial and market awareness.

The directors have continued proactive investments into properties, with particular focus on sustainability and energy efficiency, giving the directors full confidence the business which will continue to grow, and margins improve.

Consideration is made to the risks in the market, namely those of increased costs and competition, as well as consumer confidence and macro-economic effects. The directors are taking measures to position the business in the best possible position to manage these risks effectively.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 2,000,000 139,689 2,139,689
Additions - 19,319 19,319
Revaluations 250,000 - 250,000
At 30 April 2024 2,250,000 159,008 2,409,008
DEPRECIATION
At 1 May 2023 - 88,915 88,915
Charge for year - 11,307 11,307
At 30 April 2024 - 100,222 100,222
NET BOOK VALUE
At 30 April 2024 2,250,000 58,786 2,308,786
At 30 April 2023 2,000,000 50,774 2,050,774

HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 204,512 - 204,512
Valuation in 2023 251,512 - 251,512
Valuation in 2024 250,000 - 250,000
Cost 1,543,976 159,008 1,702,984
2,250,000 159,008 2,409,008

The directors revalued the freehold property at 30 April 2024 with regard to market conditions at that date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors (112 ) -
Other debtors 21,884 33,114
21,772 33,114

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 88,979 101,402
Trade creditors 30,444 26,900
Taxation and social security 46,961 61,539
Other creditors 539,215 324,720
705,599 514,561

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 410,891 390,886
Other creditors 1,500,072 1,537,170
1,910,963 1,928,056

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,600 80,370

HERITAGE ESTATES (COCKLIFFE) LIMITED (REGISTERED NUMBER: 08775438)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 29,414
Bank loans 383,403 437,709
383,403 467,123

The bank overdraft and loans are secured on the freehold property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Revaluation
reserve
£   
At 1 May 2023 364,124
Revaluation in year 250,000
Deferred tax movement (62,500 )

At 30 April 2024 551,624