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REGISTERED NUMBER: 05878054 (England and Wales)


























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Hodsock Priory Limited

Hodsock Priory Limited (Registered number: 05878054)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Hodsock Priory Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G C M Buchanan
Sir A G Buchanan Bt





SECRETARY: G C M Buchanan





REGISTERED OFFICE: Hodsock Priory
Blyth
Worksop
Nottinghamshire
S81 0TY





REGISTERED NUMBER: 05878054 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hodsock Priory Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hodsock Priory Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hodsock Priory Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hodsock Priory Limited and state those matters that we have agreed to state to the Board of Directors of Hodsock Priory Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hodsock Priory Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hodsock Priory Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hodsock Priory Limited. You consider that Hodsock Priory Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hodsock Priory Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


26 November 2024

Hodsock Priory Limited (Registered number: 05878054)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,206,724 1,244,834

CURRENT ASSETS
Debtors 5 58,531 85,051
Cash at bank 7 7
58,538 85,058
CREDITORS
Amounts falling due within one year 6 411,134 454,012
NET CURRENT LIABILITIES (352,596 ) (368,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

854,128

875,880

CREDITORS
Amounts falling due after more than one
year

7

1,925,797

1,935,177
NET LIABILITIES (1,071,669 ) (1,059,297 )

CAPITAL AND RESERVES
Called up share capital 9 216,658 216,658
Retained earnings (1,288,327 ) (1,275,955 )
SHAREHOLDERS' FUNDS (1,071,669 ) (1,059,297 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 26 November 2024 and were signed on its behalf by:





G C M Buchanan - Director


Hodsock Priory Limited (Registered number: 05878054)

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

1. STATUTORY INFORMATION

Hodsock Priory 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.

The accounts are prepared on a going concern basis which assumes that the directors will continue to support the Company. If this support was not to continue then this basis may not be appropriate, as at the 31 March 2024 the company's net liabilities were £1,071,669 (2023: £1,059,297).

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost, 4% on cost and 2% on cost
Fixtures and fittings - 33% on cost and 10% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Hodsock Priory Limited (Registered number: 05878054)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023 1,959,016 482,839 2,441,855
Additions - 14,922 14,922
At 31 March 2024 1,959,016 497,761 2,456,777
DEPRECIATION
At 1 April 2023 760,810 436,211 1,197,021
Charge for year 44,888 8,144 53,032
At 31 March 2024 805,698 444,355 1,250,053
NET BOOK VALUE
At 31 March 2024 1,153,318 53,406 1,206,724
At 31 March 2023 1,198,206 46,628 1,244,834

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 720 -
Other debtors 57,811 85,051
58,531 85,051

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,351 1,536
Trade creditors 30,524 25,760
Taxation and social security 5,163 3,473
Other creditors 371,096 423,243
411,134 454,012

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,100,000 1,100,000
Other creditors 825,797 835,177
1,925,797 1,935,177

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,100,000 1,100,000

Hodsock Priory Limited (Registered number: 05878054)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,100,000 1,100,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
122,860 Ordinary A £1 122,860 122,860
93,798 Ordinary B £1 93,798 93,798
216,658 216,658

10. RELATED PARTY DISCLOSURES

At the year end the company owed £57,314 to Sir A G Buchanan Bt. a director and shareholder of the company; and £768,483 to G C M Buchanan a director and shareholder of the company.