Silverfin false false 30/11/2023 01/12/2022 30/11/2023 M E Ellis 20/08/2024 R Ely 20/08/2024 21/02/2011 S Ely 20/08/2024 21/02/2011 Adrian Nicholas Sole 20/08/2024 21/02/2011 J A Sole 20/08/2024 21/02/2011 08 January 2025 The principal activity of the Company during the financial year was that of managing the Lanteglos Hotel, Lodge and Villas site in Cornwall. 01452906 2023-11-30 01452906 bus:Director1 2023-11-30 01452906 bus:Director2 2023-11-30 01452906 bus:Director3 2023-11-30 01452906 bus:Director4 2023-11-30 01452906 bus:Director5 2023-11-30 01452906 2022-11-30 01452906 core:CurrentFinancialInstruments 2023-11-30 01452906 core:CurrentFinancialInstruments 2022-11-30 01452906 core:ShareCapital 2023-11-30 01452906 core:ShareCapital 2022-11-30 01452906 core:RevaluationReserve 2023-11-30 01452906 core:RevaluationReserve 2022-11-30 01452906 core:RetainedEarningsAccumulatedLosses 2023-11-30 01452906 core:RetainedEarningsAccumulatedLosses 2022-11-30 01452906 core:LandBuildings 2022-11-30 01452906 core:PlantMachinery 2022-11-30 01452906 core:FurnitureFittings 2022-11-30 01452906 core:LandBuildings 2023-11-30 01452906 core:PlantMachinery 2023-11-30 01452906 core:FurnitureFittings 2023-11-30 01452906 bus:OrdinaryShareClass1 2023-11-30 01452906 bus:OrdinaryShareClass2 2023-11-30 01452906 2022-12-01 2023-11-30 01452906 bus:FilletedAccounts 2022-12-01 2023-11-30 01452906 bus:SmallEntities 2022-12-01 2023-11-30 01452906 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 01452906 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 01452906 bus:Director1 2022-12-01 2023-11-30 01452906 bus:Director2 2022-12-01 2023-11-30 01452906 bus:Director3 2022-12-01 2023-11-30 01452906 bus:Director4 2022-12-01 2023-11-30 01452906 bus:Director5 2022-12-01 2023-11-30 01452906 core:PlantMachinery core:TopRangeValue 2022-12-01 2023-11-30 01452906 core:FurnitureFittings 2022-12-01 2023-11-30 01452906 2021-12-01 2022-11-30 01452906 core:LandBuildings 2022-12-01 2023-11-30 01452906 core:PlantMachinery 2022-12-01 2023-11-30 01452906 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 01452906 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 01452906 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 01452906 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01452906 (England and Wales)

LANTEGLOS HOTEL AND VILLAS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

LANTEGLOS HOTEL AND VILLAS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

LANTEGLOS HOTEL AND VILLAS LIMITED

BALANCE SHEET

As at 30 November 2023
LANTEGLOS HOTEL AND VILLAS LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,528,910 1,529,901
1,528,910 1,529,901
Current assets
Stocks 0 909
Debtors 4 69,275 141,207
Cash at bank and in hand 110,033 88,794
179,308 230,910
Creditors: amounts falling due within one year 5 ( 217,327) ( 216,148)
Net current (liabilities)/assets (38,019) 14,762
Total assets less current liabilities 1,490,891 1,544,663
Provision for liabilities 7,124 2,290
Net assets 1,498,015 1,546,953
Capital and reserves
Called-up share capital 6 150 150
Revaluation reserve 1,229,393 1,229,393
Profit and loss account 268,472 317,410
Total shareholder's funds 1,498,015 1,546,953

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Lanteglos Hotel and Villas Limited (registered number: 01452906) were approved and authorised for issue by the Director on 08 January 2025. They were signed on its behalf by:

M E Ellis
Director
LANTEGLOS HOTEL AND VILLAS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
LANTEGLOS HOTEL AND VILLAS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
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

Lanteglos Hotel and Villas 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 not depreciated
Plant and machinery 10 years straight line
Fixtures and fittings 15 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 December 2022 1,521,055 54,210 130,741 1,706,006
At 30 November 2023 1,521,055 54,210 130,741 1,706,006
Accumulated depreciation
At 01 December 2022 0 52,415 123,690 176,105
Charge for the financial year 0 423 568 991
At 30 November 2023 0 52,838 124,258 177,096
Net book value
At 30 November 2023 1,521,055 1,372 6,483 1,528,910
At 30 November 2022 1,521,055 1,795 7,051 1,529,901

Revaluation of tangible assets

Freehold land and buildings were professionally valued by Messrs Stratton & Holborow, Truro, an independent valuer. The basis of this valuation was market value. This class of assets has a current value of £1,521,055 (2022 - £1,521,055) and carrying amount at historical cost of £291,663 (2022 - £291,663). The depreciation on this historical costs is £0 (2022 - £0).

4. Debtors

2023 2022
£ £
Trade debtors 61,661 126,049
Prepayments 7,614 6,598
Corporation tax 0 8,560
69,275 141,207

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 12,425 10,160
Amounts owed to director 171,968 172,620
Accruals 5,323 3,950
Other taxation and social security 27,310 26,354
Other creditors 301 3,064
217,327 216,148

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
50 Ordinary B shares of £ 1.00 each 50 50
150 150

7. Ultimate controlling party

Parent Company:

Lanteglos Hotel and Villas (2011) Limited, incorporated in England