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REGISTERED NUMBER: 01131582 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 June 2023

for

Hollybourne Developments Limited

Hollybourne Developments Limited (Registered number: 01131582)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Hollybourne Developments Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: A R Bailey





SECRETARY: M J Tollow





REGISTERED OFFICE: Pemberley Alton House Hotel
Normandy Strret
Alton
Hampshire
GU34 1DW





REGISTERED NUMBER: 01131582 (England and Wales)





AUDITORS: JWR Audit Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Hollybourne Developments Limited (Registered number: 01131582)

Strategic Report
for the Year Ended 30 June 2023

The director presents his strategic report for the year ended 30 June 2023.

REVIEW OF BUSINESS
The company's key performance indicators are considered to be:

2023 2022
£ £

Turnover 2,988,496 2,403,008

Gross Profit 2,239,097 1,831,860


With regards to the performance in the financial year ended 30 June 2023, both the turnover and gross profit indicators have seen an increase when compared with year ended 30 June 2022, but due to increases in cost within 2023, net profit has suffered. This continues to support the positive view of the business operations demonstrated in the year ended 30 June 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The main risk identified is the ongoing cost of living crisis. We will continue to monitor the situation and to amend strategies as necessary. The existing pension fund loan is fixed and controllable.

FUTURE DEVELOPMENTS
The company sold land at the back of Alton House Hotel and continues in the process of gaining planning permission for the land on Farnham House Hotel.

The company continues to actively assess situations to ensure its viability.

ON BEHALF OF THE BOARD:





A R Bailey - Director


12 November 2024

Hollybourne Developments Limited (Registered number: 01131582)

Report of the Director
for the Year Ended 30 June 2023

The director presents his report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of hotel services.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2023.

DIRECTOR
A R Bailey held office during the whole of the period from 1 July 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, JWR Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A R Bailey - Director


12 November 2024

Report of the Independent Auditors to the Members of
Hollybourne Developments Limited

Opinion
We have audited the financial statements of Hollybourne Developments Limited (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hollybourne Developments Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

Procedures performed by the audit team included:

- Discussions with management regarding known or suspected instances of non-compliance with laws and regulations;
- Evaluation of controls designed to prevent and detect irregularities; and
- Assessing journals entries as part of our planned audit approach.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Hollybourne Developments Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

14 November 2024

Hollybourne Developments Limited (Registered number: 01131582)

Income Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

TURNOVER 3 2,988,496 2,403,008

Cost of sales 749,399 571,148
GROSS PROFIT 2,239,097 1,831,860

Administrative expenses 1,611,463 1,452,609
627,634 379,251

Other operating income 40,440 51,721
OPERATING PROFIT 5 668,074 430,972

Interest receivable and similar income 462 7
668,536 430,979

Interest payable and similar expenses 6 30,763 14,843
PROFIT BEFORE TAXATION 637,773 416,136

Tax on profit 7 116,961 100,905
PROFIT FOR THE FINANCIAL YEAR 520,812 315,231

Hollybourne Developments Limited (Registered number: 01131582)

Other Comprehensive Income
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

PROFIT FOR THE YEAR 520,812 315,231


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

520,812

315,231

Hollybourne Developments Limited (Registered number: 01131582)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 6,888,990 7,735,392

CURRENT ASSETS
Stocks 9 17,114 22,990
Debtors 10 270,838 39,253
Cash at bank and in hand 1,490,539 512,675
1,778,491 574,918
CREDITORS
Amounts falling due within one year 11 5,417,811 5,375,062
NET CURRENT LIABILITIES (3,639,320 ) (4,800,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,249,670

2,935,248

CREDITORS
Amounts falling due after more than one
year

12

(584,474

)

(789,985

)

PROVISIONS FOR LIABILITIES 15 (8,836 ) (9,715 )
NET ASSETS 2,656,360 2,135,548

CAPITAL AND RESERVES
Called up share capital 16 4,000 4,000
Retained earnings 17 2,652,360 2,131,548
SHAREHOLDERS' FUNDS 2,656,360 2,135,548

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





A R Bailey - Director


Hollybourne Developments Limited (Registered number: 01131582)

Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 4,000 1,816,317 1,820,317

Changes in equity
Total comprehensive income - 315,231 315,231
Balance at 30 June 2022 4,000 2,131,548 2,135,548

Changes in equity
Total comprehensive income - 520,812 520,812
Balance at 30 June 2023 4,000 2,652,360 2,656,360

Hollybourne Developments Limited (Registered number: 01131582)

Cash Flow Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 212,681 547,907
Interest paid (30,763 ) (14,843 )
Tax paid (84,737 ) (14,016 )
Net cash from operating activities 97,181 519,048

Cash flows from investing activities
Purchase of tangible fixed assets (6,300 ) -
Sale of tangible fixed assets 1,100,000 20,899
Interest received 462 7
Net cash from investing activities 1,094,162 20,906

Cash flows from financing activities
New loans in year - 472,968
Loan repayments in year (198,454 ) (329,690 )
Amount introduced by directors 8,876 5,297
Amount withdrawn by directors (23,901 ) (405,803 )
Net cash from financing activities (213,479 ) (257,228 )

Increase in cash and cash equivalents 977,864 282,726
Cash and cash equivalents at beginning of
year

2

512,675

229,949

Cash and cash equivalents at end of year 2 1,490,539 512,675

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM
OPERATIONS
30.6.23 30.6.22
£    £   
Profit for the financial year 520,812 315,231
Depreciation charges 9,815 7,860
Profit on disposal of fixed assets (257,112 ) (9,414 )
Finance costs 30,763 14,843
Finance income (462 ) (7 )
Taxation 116,961 100,905
420,777 429,418
Decrease in stocks 5,876 5,654
(Increase)/decrease in trade and other debtors (231,585 ) 19,657
Increase in trade and other creditors 17,613 93,178
Cash generated from operations 212,681 547,907

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,490,539 512,675
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 512,675 229,949


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 512,675 977,864 1,490,539
512,675 977,864 1,490,539
Debt
Debts falling due within 1 year (198,453 ) (7,058 ) (205,511 )
Debts falling due after 1 year (789,985 ) 205,511 (584,474 )
(988,438 ) 198,453 (789,985 )
Total (475,763 ) 1,176,317 700,554

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Hollybourne Developments 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of accommodation, the sale of food and beverage and property development.
Revenue from the sale of accommodation is recognised for each night as it takes place at the room rate for that night. Payments in advance for accommodation services not yet provided are treated as a contract liability and included in amounts of deferred income.
The sale of food and beverage is recognised as and when the items are provided to the customer at the price for the items purchased.
Turnover in relation to the property development is recognised based on the stage of completion of the build.

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 - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance

Freehold buildings represents three hotel buildings. It is management's intention to maintain the properties in a good state of repair such that the residual value should never significantly fall below cost, hence the depreciation rate is 0%.

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


Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

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

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

30.6.23 30.6.22
£    £   
Hotel Services 2,874,496 2,403,008
Property Development 114,000 -
2,988,496 2,403,008

An analysis of turnover by geographical market is given below:

30.6.23 30.6.22
£    £   
United Kingdom 2,988,496 2,403,008
2,988,496 2,403,008

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. EMPLOYEES AND DIRECTORS
30.6.23 30.6.22
£    £   
Wages and salaries 1,052,210 819,546
Social security costs 69,257 53,390
Other pension costs 19,292 16,470
1,140,759 889,406

The average number of employees during the year was as follows:
30.6.23 30.6.22

Administration 3 3
Sales 65 51
68 54

30.6.23 30.6.22
£    £   
Director's remuneration 17,403 14,986

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.6.23 30.6.22
£    £   
Hire of plant and machinery - 18,468
Other operating leases - 3,833
Depreciation - owned assets 9,814 7,860
Profit on disposal of fixed assets (257,112 ) (9,414 )
Audit Fee 6,000 6,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.23 30.6.22
£    £   
Bank loan interest 30,763 14,843

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.23 30.6.22
£    £   
Current tax:
UK corporation tax 117,840 91,190

Deferred tax (879 ) 9,715
Tax on profit 116,961 100,905

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 7,696,533 92,237 118,543 11,345 7,918,658
Additions - 6,300 - - 6,300
Disposals (842,888 ) - - - (842,888 )
At 30 June 2023 6,853,645 98,537 118,543 11,345 7,082,070
DEPRECIATION
At 1 July 2022 - 71,108 102,290 9,868 183,266
Charge for year - 5,456 4,063 295 9,814
At 30 June 2023 - 76,564 106,353 10,163 193,080
NET BOOK VALUE
At 30 June 2023 6,853,645 21,973 12,190 1,182 6,888,990
At 30 June 2022 7,696,533 21,129 16,253 1,477 7,735,392

9. STOCKS
30.6.23 30.6.22
£    £   
Stocks 17,114 22,990

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 14,882 17,118
Other debtors 22,695 13,656
Prepayments and accrued income 218,540 -
Prepayments 14,721 8,479
270,838 39,253

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other loans (see note 13) 205,511 198,453
Trade creditors 88,594 80,951
Tax 124,293 91,190
Social security and other taxes 19,294 19,692
VAT 91,234 110,695
Other creditors 7,216 15,397
Directors' loan accounts 4,704,945 4,719,970
Accruals and deferred income 92,519 83,338
Accrued expenses 84,205 55,376
5,417,811 5,375,062

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Other loans (see note 13) 584,474 789,985

13. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Other loans 205,511 198,453

Amounts falling due between two and five years:
Other loans - 2-5 years 584,474 789,985

14. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Other Loans 789,985 988,438

"Other loans" as disclosed at note 11 and note 12 are advances from the Hollybourne Development Executive Pensions Scheme. The full amount of the outstanding loan is secured on the company's freehold premises known as the The Red Lion Hotel.

The company has an outstanding fixed charge on the premises know as Red Lion Hotel, registered on 28 November 2014, . The charge remains outstanding at the balance sheet date.This charge registered with HSBC for a bank overdraft facility. As of the reporting date, the overdraft facility is not in use.

15. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 8,836 9,715

Deferred
tax
£   
Balance at 1 July 2022 9,715
Provided during year (879 )
Balance at 30 June 2023 8,836

Hollybourne Developments Limited (Registered number: 01131582)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
4,000 Ordinary £1 4,000 4,000

17. RESERVES
Retained
earnings
£   

At 1 July 2022 2,131,548
Profit for the year 520,812
At 30 June 2023 2,652,360

18. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the director £4,704,945 (2022: £4,719,969).

19. RELATED PARTY DISCLOSURES

During the financial year, the company entered into a sales transaction with a related party, as defined under FRS 102 (Section 33). The transaction was conducted on normal commercial terms and conditions.

The related party transaction is detailed below:

Sales to Director:
During the year, the company made sales amounting to £114,000 to Anthony Bailey, a director of the company. The sales were made in the ordinary course of business, and no special terms or preferential pricing were applied.

The directors believe that the terms of this transaction were fair and reasonable and in the best interests of the company.

20. ULTIMATE CONTROLLING PARTY

The controlling party is A R Bailey.