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REGISTERED NUMBER: 00361879 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

METHODIST HOLIDAY HOTELS LIMITED

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


METHODIST HOLIDAY HOTELS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Diane M Uhalde
Richard J Kinder
Timothy J Boyes





SECRETARY: Diane M Uhalde





REGISTERED OFFICE: Unit 7-8 Manor Court
Eastfield
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 00361879 (England and Wales)

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

STATEMENT OF FINANCIAL POSITION
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 23,790
Property, plant and equipment 5 - 2,856,572
Investments 6 100 100
100 2,880,462

CURRENT ASSETS
Inventories - 87,743
Debtors 7 62,945 90,345
Cash at bank and in hand 8 1,771,125 703,638
1,834,070 881,726
CREDITORS
Amounts falling due within one year 9 102,159 1,022,626
NET CURRENT ASSETS/(LIABILITIES) 1,731,911 (140,900 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,732,011

2,739,562

CREDITORS
Amounts falling due after more than one year 10 - 1,802,614
NET ASSETS 1,732,011 936,948

CAPITAL AND RESERVES
Called up share capital 13 750,000 750,000
Revaluation reserve 14 - 233,979
Retained earnings 982,011 (47,031 )
SHAREHOLDERS' FUNDS 1,732,011 936,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 and authorised for issue by the Board of Directors and authorised for issue on 6 July 2024 and were signed on its behalf by:



Diane M Uhalde - Director


METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Methodist Holiday Hotels 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.

The presentational and functional currency is £ sterling.

Preparation of consolidated financial statements
The financial statements contain information about Methodist Holiday Hotels Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 of the Companies Act 2006 not to prepare consolidated financial statement as it only has one dormant immaterial subsidiary.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
The management consider that no significant judgements have had to made in preparing these financial statements.

Critical accounting estimates and assumptions
1. Depreciation of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and future revenues generated from the assets. The assumptions used regarding useful economic lives are assessed annually and are amended where necessary.

The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover comprises sales to customers of goods and services net of value added tax. Revenue from the sale of services is recognised when the services are performed and revenue from goods are recognised on the transfer of significant risks and rewards of ownership.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of fourteen years.

The goodwill became fully amortised in a previous financial period.

Development costs
Website development costs are capitalised as intangibles assets and are amortised evenly over their estimated useful life of three years.

Tangible fixed assets and depreciation
Depreciation of fixed assets has been provided at various rates which are anticipated to amortise the cost or valuation less residual value over the assets' expected useful lives. The freehold land and buildings cost comprise a previous revaluation as deemed cost on transition to FRS 102. Indicative annual rates are:-

Freehold land0%
Freehold propertystraight line over 50 years
Plant & equipment, fixtures & fittings5% - 25% on a straight line basis
Motor vehicles20% on a straight line basis

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leases
Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the income statement on a straight basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Grants
Grants are recognised using the accruals model. Revenue grants are recognised as other operating income on a systematic basis over the period in which the related costs for which the grants are intended to compensate are so recognised. Grants receivable as compensation for expenses or losses already incurred, or for the purpose of receiving immediate financial support, are recognised in other operating income in the period in which they become receivable.

Going concern
The directors have considered the financial resources and commitments of the company and concluded that they have sufficient resources to meet liabilities as they fall due. This assessment is made on the basis of the net current asset position of the company at the reporting date and the healthy bank balance following the sale of the hotel in the period. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2023 - 59 ) .

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 May 2023 200,000 36,377 236,377
Disposals (200,000 ) (36,377 ) (236,377 )
At 30 April 2024 - - -
AMORTISATION
At 1 May 2023 200,000 12,587 212,587
Amortisation for year - 11,116 11,116
Eliminated on disposal (200,000 ) (23,703 ) (223,703 )
At 30 April 2024 - - -
NET BOOK VALUE
At 30 April 2024 - - -
At 30 April 2023 - 23,790 23,790

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
equipment,
fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 2,845,558 1,512,964 10,000 4,368,522
Additions 9,870 145,569 - 155,439
Disposals (2,855,428 ) (1,658,533 ) (10,000 ) (4,523,961 )
At 30 April 2024 - - - -
DEPRECIATION
At 1 May 2023 520,505 987,778 3,667 1,511,950
Charge for year 59,742 108,260 1,833 169,835
Eliminated on disposal (580,247 ) (1,096,038 ) (5,500 ) (1,681,785 )
At 30 April 2024 - - - -
NET BOOK VALUE
At 30 April 2024 - - - -
At 30 April 2023 2,325,053 525,186 6,333 2,856,572

The net book value of property, plant and equipment includes £NIL (2023 - £ 5,362 ) in respect of assets held under hire purchase contracts.

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 30 April 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 574
Other debtors 62,945 89,771
62,945 90,345

8. CASH AT BANK AND IN HAND
2024 2023
£    £   
Bank current account 770,125 701,958
Business reserve account 1,001,000 -
Cash in hand - 1,680
1,771,125 703,638

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) - 166,519
Hire purchase contracts - 3,811
Trade creditors 1,600 131,806
Taxation and social security - 132,496
Other creditors 100,559 587,994
102,159 1,022,626

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) - 1,757,678
Other creditors - 44,936
- 1,802,614

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 166,519

Amounts falling due between one and two years:
Bank loans - 1 to 2 years - 169,616

Amounts falling due between two and five years:
Bank loans - 2 to 5 years - 1,588,062

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 3,811
Bank loans - 1,527,482
- 1,531,293

Bank borrowings were secured by legal mortgages over the freehold property, and fixed and floating charges over all other company assets. Hire purchase contracts and other loans were secured on the assets to which they relate.

All the above debts were settled in the period.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750,000 Ordinary £1 750,000 750,000

14. RESERVES
Revaluation
reserve
£   
At 1 May 2023 233,979
Realised in period (233,979 )

At 30 April 2024 -

15. PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the scheme and amounted to £75,615 (2023 - £63,922). The balance outstanding at the year end was £nil (2023 - £8,108).

METHODIST HOLIDAY HOTELS LIMITED (REGISTERED NUMBER: 00361879)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


16. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 40,409