Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Charlotte Louise Campbell Carew Pole 20/01/2016 Tremayne John Carew Pole 20/01/2016 Tremayne Carew Pole 22 December 2024 The principle activity of the company is the management of Whitsand Bay Golf Club and The Wilcove Inn. The company also receives rental income for Carew Arms. From August 2022 the company began to manage the Tea Rooms at Broomhill, this ceased in November 2023. 09959797 2024-01-31 09959797 bus:Director1 2024-01-31 09959797 bus:Director2 2024-01-31 09959797 2023-01-31 09959797 core:CurrentFinancialInstruments 2024-01-31 09959797 core:CurrentFinancialInstruments 2023-01-31 09959797 core:Non-currentFinancialInstruments 2024-01-31 09959797 core:Non-currentFinancialInstruments 2023-01-31 09959797 core:ShareCapital 2024-01-31 09959797 core:ShareCapital 2023-01-31 09959797 core:RetainedEarningsAccumulatedLosses 2024-01-31 09959797 core:RetainedEarningsAccumulatedLosses 2023-01-31 09959797 core:OtherResidualIntangibleAssets 2023-01-31 09959797 core:OtherResidualIntangibleAssets 2024-01-31 09959797 core:LandBuildings 2023-01-31 09959797 core:PlantMachinery 2023-01-31 09959797 core:FurnitureFittings 2023-01-31 09959797 core:OfficeEquipment 2023-01-31 09959797 core:LandBuildings 2024-01-31 09959797 core:PlantMachinery 2024-01-31 09959797 core:FurnitureFittings 2024-01-31 09959797 core:OfficeEquipment 2024-01-31 09959797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-01-31 09959797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 09959797 bus:OrdinaryShareClass1 2024-01-31 09959797 2023-02-01 2024-01-31 09959797 bus:FilletedAccounts 2023-02-01 2024-01-31 09959797 bus:SmallEntities 2023-02-01 2024-01-31 09959797 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09959797 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09959797 bus:Director1 2023-02-01 2024-01-31 09959797 bus:Director2 2023-02-01 2024-01-31 09959797 bus:Director3 2023-02-01 2024-01-31 09959797 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-02-01 2024-01-31 09959797 core:LandBuildings core:BottomRangeValue 2023-02-01 2024-01-31 09959797 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 09959797 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 09959797 core:FurnitureFittings core:BottomRangeValue 2023-02-01 2024-01-31 09959797 core:FurnitureFittings core:TopRangeValue 2023-02-01 2024-01-31 09959797 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 09959797 2022-02-01 2023-01-31 09959797 core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 09959797 core:LandBuildings 2023-02-01 2024-01-31 09959797 core:PlantMachinery 2023-02-01 2024-01-31 09959797 core:FurnitureFittings 2023-02-01 2024-01-31 09959797 core:OfficeEquipment 2023-02-01 2024-01-31 09959797 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 09959797 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 09959797 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09959797 (England and Wales)

ANTONY HOSPITALITY HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

ANTONY HOSPITALITY HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

ANTONY HOSPITALITY HOLDINGS LIMITED

BALANCE SHEET

As at 31 January 2024
ANTONY HOSPITALITY HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 255
Tangible assets 4 65,086 95,186
Investment property 5 250,000 250,000
315,086 345,441
Current assets
Stocks 26,455 32,645
Debtors 6 15,794 26,303
Cash at bank and in hand 10,861 8,364
53,110 67,312
Creditors: amounts falling due within one year 7 ( 1,094,747) ( 971,656)
Net current liabilities (1,041,637) (904,344)
Total assets less current liabilities (726,551) (558,903)
Creditors: amounts falling due after more than one year 8 ( 284,005) ( 342,984)
Net liabilities ( 1,010,556) ( 901,887)
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account ( 1,010,557 ) ( 901,888 )
Total shareholder's deficit ( 1,010,556) ( 901,887)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Antony Hospitality Holdings Limited (registered number: 09959797) were approved and authorised for issue by the Board of Directors on 22 December 2024. They were signed on its behalf by:

Tremayne Carew Pole
Director
ANTONY HOSPITALITY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
ANTONY HOSPITALITY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Antony Hospitality Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Antony Estate Office, Antony, Torpoint, Cornwall, PL11 3AB.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company continues to rely on the ongoing financial support of the directors. The directors of the company have confirmed their intentions to provide ongoing support to ensure continued operation of the company. Therefore the accounts have been prepared on a going concern basis.

Turnover

Wilcove Inn and Tea Rooms at Broomhill:
Turnover represents sales of food and drink and the provision of bed and breakfast at the premises, made net of VAT, returns, rebates and discounts. Revenue is recognised as sales made which, given the nature of the business, is usually when the cash is received. Monies received as deposits for advance bookings are treated as deferred income and recognised in turnover at the time of the event, or on forfeiture.

Carew Arms (From July 2020):
Turnover represents the 15 year lease of Carew Arms, as well as the letting of short term holiday lets up to 31 January 2024, net of VAT. Monies received in advance are treated as deferred income and recognised over the period that they relate to.

Whitsand Bay:
Turnover represents membership and green fees as well as shop and bar sales made net of VAT, returns, rebates and discounts. Annual membership fees are spread over the period of membership on a straight line basis. Green fees and golf shop sales are recognised as sales are made which, given the nature of the business, is usually when the cash is received.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 - 50 years straight line
Plant and machinery 5 years straight line
Fixtures and fittings 4 - 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is measured at fair value with any change recognised in the profit and loss account.

The initial valuation is based on a third party valuation of £250,000 from February 2020.

The directors assessed the value of the property at January 2024 by reviewing the factors behind the February 2020 valuation and also using current market data for comparable real estate based on observable market prices, adjusted where necessary for differences in nature, location or condition. They determined that the value of the property remains £250,000. For this reason no change in market value has been recognised since the transfer.

Stocks

Stock comprises goods for resale and consumables.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Other grants

In 2023 Antony Hospitality Holdings received grant income from Cornwall Council and English Golf Union, to aide with the Covid restrictions placed on the hospitality sector. As there were no future conditions for these grants the full amount was recognised within other income in the year.

No grants were received in 2024.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 36 32

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2023 2,492 2,492
At 31 January 2024 2,492 2,492
Accumulated amortisation
At 01 February 2023 2,237 2,237
Charge for the financial year 255 255
At 31 January 2024 2,492 2,492
Net book value
At 31 January 2024 0 0
At 31 January 2023 255 255

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 February 2023 50,838 160,324 23,750 824 235,736
Additions 0 9,467 1,065 0 10,532
Disposals 0 ( 995) ( 2,732) 0 ( 3,727)
At 31 January 2024 50,838 168,796 22,083 824 242,541
Accumulated depreciation
At 01 February 2023 15,170 108,546 16,419 415 140,550
Charge for the financial year 5,084 28,144 4,574 165 37,967
Disposals 0 ( 149) ( 913) 0 ( 1,062)
At 31 January 2024 20,254 136,541 20,080 580 177,455
Net book value
At 31 January 2024 30,584 32,255 2,003 244 65,086
At 31 January 2023 35,668 51,778 7,331 409 95,186

5. Investment property

Investment property
£
Valuation
As at 01 February 2023 250,000
As at 31 January 2024 250,000

6. Debtors

2024 2023
£ £
Trade debtors 782 4,549
Amounts owed by related parties 5,500 7,700
Other debtors 9,512 14,054
15,794 26,303

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 48,732 50,149
Trade creditors 110,118 132,432
Other taxation and social security 39,532 39,836
Obligations under finance leases and hire purchase contracts 10,123 11,469
Other creditors 886,242 737,770
1,094,747 971,656

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 160,649 178,653
Obligations under finance leases and hire purchase contracts 3,675 13,797
Other creditors 119,681 150,534
284,005 342,984

Creditors include bank loans which are secured against the freehold property known as the Ring O'Bells of £142,649 (2023 - £149,786).

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 £1 Ordinary share of £ 1.00 1 1

10. Financial commitments

Other financial commitments

2024 2023
£ £
Commitments in respect of lease payments 210,723 191,208

In addition Antony Hospitality Holdings Ltd entered into rental agreements for Whitsand Bay Golf Course and the Wilcove Inn. These are viewed as open ended lease agreements and as such no disclosure regarding the period of commitment is given.

11. Related party transactions

During the year a director and entities controlled by a director (including a company and trusts of which they have authority to act as an agent on the trustee's behalf) made loans to Antony Hospitality Holdings Ltd. The loans are interest free and repayable on demand. At the year end the outstanding balance, as included in other creditors, on these loans was £935,070 (2023: £780,845).

Of this, the total amount owed to the director is £584,401 (2023: £522,621). Of this balance £119,681 (2023: £150,534) is due over one year.

A partnership, (of which one of the directors is a partner) is the landlord of Whitsand Bay Golf Club and Wilcove Inn, both of which are rented to Antony Hospitality Holdings Ltd on third party commercial terms. As at 31 January 2024 Antony Hospitality Holdings Limited owed the partnership £12,417 (2023: £34,716) for rental payments.