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REGISTERED NUMBER: 03703208 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

CORNERHOUSE HOTEL LIMITED

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNERHOUSE HOTEL LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D L R Hiscox
L A Hiscox





SECRETARY: D L R Hiscox





REGISTERED OFFICE: Top Floor Offices
Hatton Court
Upton St Leonards
Gloucester
GL4 8DE





REGISTERED NUMBER: 03703208 (England and Wales)





ACCOUNTANTS: John S Ward & Co Limited
Chartered Certified Accountants
26-28 Headlands
Kettering
Northamptonshire
NN15 7HP

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,933,051 2,857,525

CURRENT ASSETS
Stocks 12,045 10,601
Debtors 5 651,140 423,743
Cash at bank 45,916 44,933
709,101 479,277
CREDITORS
Amounts falling due within one year 6 1,177,503 603,845
NET CURRENT LIABILITIES (468,402 ) (124,568 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,464,649

2,732,957

CREDITORS
Amounts falling due after more than
one year

7

(1,369,277

)

(1,616,554

)

PROVISIONS FOR LIABILITIES (43,050 ) (37,900 )
NET ASSETS 1,052,322 1,078,503

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Balance Sheet - continued
31 January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Revaluation reserve 9 573,900 573,900
Retained earnings 477,421 503,602
1,052,322 1,078,503

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 6 November 2024 and were signed on its behalf by:





D L R Hiscox - Director


CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

CORNERHOUSE 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.

Preparation of consolidated financial statements
The financial statements contain information about CORNERHOUSE HOTEL LIMITED as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Fixtures & Fittings Between 5 to 15 years

Freehold property is maintained to a high standard for trading purposes and the Directors consider the economic life of the property is thereby extended so as to make any provision for Depreciation immaterial

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


CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 2,524,995 1,435,713 3,960,708
Additions 2,093 109,900 111,993
At 31 January 2024 2,527,088 1,545,613 4,072,701
DEPRECIATION
At 1 February 2023 - 1,103,183 1,103,183
Charge for year - 36,467 36,467
At 31 January 2024 - 1,139,650 1,139,650
NET BOOK VALUE
At 31 January 2024 2,527,088 405,963 2,933,051
At 31 January 2023 2,524,995 332,530 2,857,525

The historical cost of the Freehold property is £1,945,554 ( 2022 £1,943,461)

Deferred tax is not provided on revalued property as the Directors have no intention of selling the property in the foreseeable future.

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 50,297
At 31 January 2024 50,297
DEPRECIATION
Charge for year 1,622
At 31 January 2024 1,622
NET BOOK VALUE
At 31 January 2024 48,675

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,524 19,442
Other debtors 629,616 404,301
651,140 423,743

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 207,936 151,400
Hire purchase contracts and finance leases 32,853 -
Trade creditors 79,690 92,816
Taxation and social security 143,500 119,232
Other creditors 713,524 240,397
1,177,503 603,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 929,207 1,216,554
Hire purchase contracts and finance leases 40,070 -
Other creditors 400,000 400,000
1,369,277 1,616,554

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 97,463 336,654

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,137,143 1,367,954

Bank Loans are secured by Fixed and Floating Charge over the assets of the Company

CORNERHOUSE HOTEL LIMITED (Registered number: 03703208)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RESERVES
Revaluatio
reserve
£   
At 1 February 2023
and 31 January 2024 573,900

10. CONTINGENT LIABILITIES

The Company has provided an unlimited guarantee on all monies due to Mrs VEA Hiscox from Hatton Properties Ltd. The Guarantee is secured on the Company's freehold premises

11. RELATED PARTY DISCLOSURES

At 31st January 2024 the Company owed £1,042,704 (2023 £602,402) and was owed
£596,947 (2023 £320,511 ) from related party companies.

12. ULTIMATE CONTROLLING PARTY

Mrs VEA Hiscox is the controlling shareholder of the Company