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REGISTERED NUMBER: 03459771 (England and Wales)










The Coniston Hotel Limited

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024






The Coniston Hotel Limited (Registered number: 03459771)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 18


The Coniston Hotel Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: M J R Bannister
N W A Bannister
D S Bowring
Ms L Bolton



SECRETARY: M J R Bannister



REGISTERED OFFICE: Coniston Hall
Coniston Cold
Skipton
North Yorkshire
BD23 4EB



REGISTERED NUMBER: 03459771 (England and Wales)



AUDITORS: Walkers Accountants Limited
Statutory Auditor and Chartered Accountants
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ



BANKERS: Yorkshire Bank Plc
44 High Street
Skipton
North Yorkshire
BD23 1JR

The Coniston Hotel Limited (Registered number: 03459771)

Strategic Report
for the year ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.


The Coniston Hotel Limited (Registered number: 03459771)

Strategic Report
for the year ended 31 March 2024

REVIEW OF BUSINESS
The financial year to 31st March 2024 presented another difficult challenge for the business, particularly due to inflationary pressures across all costs, continued high interest rates, and a significant increase in the national minimum wage. These factors placed greater strain on generating profits for reinvestment and further business development. Passing on these cost increases to guests via higher sales prices remained challenging due to pressures on discretionary spending and the need to retain a competitive edge. Additionally, recruiting qualified Kitchen and Food & Beverage staff remained difficult, though agency costs have fallen year-on-year.

The impact of inflation has weakened demand, particularly in the leisure market, where indoor dining and short-term breaks faced reduced occupancy levels and room rates. However, the wedding market has remained stable, with strong positive enquiries for bookings extending into 2025-2027. The corporate sector has also maintained steady business levels for team building and events. Notably, the Spa continues to perform profitably, with increased demand and footfall.

Prudent investments made during the lockdown period, including the full refurbishment of the "The View" Restaurant, expansion of Spa Thermal facilities, separation of corporate and leisure facilities, and enhancements to the estate's outdoor amenities, have positioned the business to weather financial pressures without requiring significant new capital expenditures beyond the annual cycle of bedroom refurbishments and essential upkeep of public areas.

While employee numbers have fluctuated between 126 to 152 over the year, these variations are within the expected range when accounting for seasonal workforce adjustments. The labour force remains stable, with a strategic focus on optimising workforce efficiency through restructuring efforts.

Overall, the business generated a trading net loss before tax of £925,180 this compares to a prior year loss of £72,687.

The business recorded a trading net loss before tax of £925,180, compared to a prior year loss of £72,687. Turnover was slightly lower than the previous year (£8,046,505 in 2024 vs. £8,077,087 in 2023). Ongoing trading losses posed challenges to working capital.

Operational improvements and strategic incentives
The implementation of new rota management software has provided managers with live wage cost information, ensuring that rota costs remain aligned with forecasted revenue. A leaner, more efficient management structure has been established, reducing administrative burdens and prioritising guest-facing interactions. The business is actively engaging with AI solutions to streamline administrative processes and is exploring AI-driven guest interactions to enhance response times and improve sales conversions. Improved procurement and stock management systems, including Procure Wizard, have been implemented to optimise supplier costs, improve stock control, and enhance margin management. Adjustments in accommodation pricing now align with four-star competitors, preventing price drift into five-star territory. This ensures better occupancy rates, particularly in off-peak periods, and enhances the overall perception of value. The planned sale of select properties will contribute to reducing business debt, while ongoing negotiations to refinance business loans aim to lower capital and interest repayments, thereby improving cash flow stability.

Looking ahead: 2024/2025 and beyond
To address the continued rise in costs and sluggish demand, the business has introduced a new marketing team and engaged external consultants to drive revenue growth. Efforts to increase pricing and room rates where possible, maintain cost efficiency, and enhance operational effectiveness through improved systems remain a priority.

Despite ongoing challenges in recruitment and retention, targeted efforts to attract skilled talent and reduce reliance on agency staff are underway. Additionally, while payroll costs will rise due to increased national insurance contributions, these increases have been factored into the 2024-2025 budgeted P&L and cash flow models.

The Directors remain confident in the financial stability of the business, with funding arrangements in place to support trading activity and economic challenges over the next 12 months. A positive trajectory in trading conditions is anticipated, particularly as demand is expected to strengthen in Spring/Summer 2025.

The company continues to conduct formal monthly management & departmental meetings, ensuring that financial performance, sales targets, and strategic adjustments are proactively managed in response to evolving market conditions.


The Coniston Hotel Limited (Registered number: 03459771)

Strategic Report
for the year ended 31 March 2024

PRINCIPAL RISKS AND UNCERTAINTIES
As the business continues to trade, it remains focused on maintaining sufficient operational profits and cash flow to meet its capital commitments and liabilities. A range of new initiatives aimed at cost reduction, revenue growth, and improved working capital management have been implemented, mitigating immediate financial risks. The ongoing priority for the new financial year will be to closely monitor all operational procedures and financial performance, ensuring that profitability is enhanced while maintaining the high standards and reputation of the Hotel.

Credit Risk

Most of the company's customers and guests pay their bills immediately. Customers who are given credit terms are mainly long-standing customers or larger corporate businesses. All credit amounts are monitored closely each month.

Liquidity

The business will strive to meet its liabilities as and when they fall due. The business reviews all cash flow requirements monthly, including future cash flows forecasts.

Interest Risk

The Company has bank loans with variable interest rates and therefore is exposed to increases in market interest rates.

FINANCIAL KEY PERFORMANCE INDICATORS
The Directors monitor a range of key financial performance indicators to assess the overall financial strength and operational efficiency of the business. These include variance to budget, gross and net profitability, revenue growth across core business areas, and cash flow stability. Monthly reviews ensure that strategic adjustments are made proactively to optimise profitability and align business performance with market conditions. The focus remains on sustaining financial health through enhanced revenue generation, cost management, and operational efficiencies driven by technology and process improvements.

ON BEHALF OF THE BOARD:





M J R Bannister - Secretary


26 March 2025

The Coniston Hotel Limited (Registered number: 03459771)

Report of the Directors
for the year ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of hoteliers.

DIVIDENDS
The total distribution of dividends for the year to 31 March 2024 was £nil (2023: £nil).

GOING CONCERN
The financial statements for the year ended 31 March 2024 have been prepared on the going concern basis.

In the year ended 31 March 2024, the Company generated a loss for the financial year of £899,004 and as at the balance sheet date the company had net current liabilities of £2,893,510, net assets of £2,282,579 and cash of £47,184. Since March 2024, trading conditions have remained challenging, with increased costs throughout.

However going forward into 2024/2025, to combat the continued increase in costs and stagnant demand the business has introduced a range of new initiatives to assist in increasing prices and room rates where possible, maintaining costs at sensible levels and to drive more efficiency via improved systems. They are also working closely with a team of consultants who are assisting in the aim to turn the business around.

Post year end management accounts have shown an increase in turnover levels and reduction in losses, with an expected profit at the end of March 2026.

The Directors have confidence that the funding arrangements in place for the next 12 months from the date of signing these financial statements to March 2026, will be sufficient to support all trading activity & economic threats going forward.

In forming their view on going concern of the Company the directors have reviewed cashflow forecasts, taking into consideration the Company's financing arrangements, trading patterns and trading risks. The cashflow forecasts are based on the assumption of continued deferral of capital repayments and the overdraft facility remaining at the same level.

The directors are confident of the Company's ability to secure financing within the time frame necessary to ensure continued liquidity through the going concern period and are in active discussions in this regard. However currently no extension has been agreed on the deferral of the capital repayments and the overdraft renewal date of 30 April 2025 and therefore committed financing is not in place as at the date of approval of these financial statements and as such, this represents a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.

Notwithstanding the above, the directors believe that the Company will have adequate support from the bank and adequate resources to continue to operation until March 2026. As such the directors continue to adopt the going concern basis in preparing the financial statements. these financial statement do not include any adjustments to the balance sheet value of assets or their recoverable amounts or to provide for further liabilities which may arise if the going concern basis of preparation is inappropriate.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

M J R Bannister
N W A Bannister
D S Bowring
Ms L Bolton

Other changes in directors holding office are as follows:

C Blackett ceased to be a director after 31 March 2024 but prior to the date of this report.


The Coniston Hotel Limited (Registered number: 03459771)

Report of the Directors
for the year ended 31 March 2024

DISCLOSURE IN THE STRATEGIC REPORT
In accordance with Section 414(c) of the Companies Act 2006 (Strategic Report & Directors Report) Regulations 2013, the company has prepared a Strategic Report, which includes information that would have previously been included in the Directors Report. The strategic report includes a business review, principal risks and uncertainties, key financial performance indicators and future developments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Walkers Accountants Limited, will be proposed for re-appointment at the forthcoming General Meeting.

ON BEHALF OF THE BOARD:



M J R Bannister - Secretary


26 March 2025

Report of the Independent Auditors to the Members of
The Coniston Hotel Limited

Disclaimer of opinion
We were engaged to audit the Financial Statements of The Coniston Hotel Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income Statement, Other Comprehensive Income, the Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and 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)

We do not express an opinion on the accompanying Financial Statements of the company. Because of the significance of the matter in the year ended 31 March 2023, as described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these Financial Statements.

Basis for disclaimer of opinion
We were unable to obtain sufficient and appropriate audit evidence in the year ended 31 March 2023 to conclude on the following matters:

- Journals in the year ended 31 March 2023
During our audit testing on year end journal entries, we were unable to obtain sufficient evidence on all journals selected for testing, some of which are material to the financial statements. Due to the lack of evidence to substantiate these journals, there was a risk of management override, and we were unable to conclude if the accounts were free from material misstatement.

Based on the above, in the previous year, we have had a limitation of scope over financial statements, we therefore believed this could be both material and pervasive to the financial statements.

Due to the limitation of scope in the previous year, this could have impacted on the opening balances for the year ended 31 March 2024, therefore due to the opening balances we have a limitation of scope for the year ended 31 March 2024 which we believe could be both material and pervasive to the financial statements.

Material uncertainty related to going concern
We draw your attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £899,004 during the year ended 31 March 2024 and, as of that date, the company's current liabilities exceeded its total assets by £2,893,510. As stated in note 2, these events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in this respect.

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

.

Opinions on other matters prescribed by the Companies Act 2006
Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form an opinion, whether based on the work undertaken in the course of the audit:
- the information given in the strategic report and directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and directors' report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
The Coniston Hotel 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 Directors.

Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit performed subject to the pervasive limitation described above, we have not identified material misstatements in the strategic report or the directors' report. Arising from the limitation of our work referred to above:
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept.

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:
- 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 directors' remuneration specified by law are not made; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
The Coniston Hotel Limited


Auditors' responsibilities for the audit of the financial statements
Our responsibility is to conduct an audit of the company's financial statements in accordance with International Standards on Auditing (UK) and to issue an auditor's report.

However, because of the matter described in the basis for disclaimer of opinion section of our report, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

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.

Detecting Irregularities

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
- Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
- Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
- Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation and the Companies Act 2006.

In addition, we evaluated the directors' and management incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, revenue recognition (which we pinpointed to the cut off assertion), and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:
- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
- Gaining an understanding of the internal controls established to mitigate risks related to fraud;
- Discussing amongst the engagement team the risks of fraud; and
- Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

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
The Coniston Hotel 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.




Andrew Day (Senior Statutory Auditor)
for and on behalf of Walkers Accountants Limited
Statutory Auditor and Chartered Accountants
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

26 March 2025

The Coniston Hotel Limited (Registered number: 03459771)

Income Statement
for the year ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 3 8,046,505 8,077,087

Cost of sales (5,294,568 ) (4,793,155 )
GROSS PROFIT 2,751,937 3,283,932

Administrative expenses (3,112,476 ) (2,938,811 )
(360,539 ) 345,121

Other operating income 4,682 4,048
OPERATING (LOSS)/PROFIT 5 (355,857 ) 349,169


Interest payable and similar expenses 6 (569,323 ) (421,856 )
LOSS BEFORE TAXATION (925,180 ) (72,687 )

Tax on loss 7 26,176 (3,197 )
LOSS FOR THE FINANCIAL YEAR (899,004 ) (75,884 )

The Coniston Hotel Limited (Registered number: 03459771)

Other Comprehensive Income
for the year ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

LOSS FOR THE YEAR (899,004 ) (75,884 )


OTHER COMPREHENSIVE INCOME
Revaluation 99,926 (868,844 )
Income tax relating to other comprehensive
income

-

12,154
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

99,926

(856,690

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(799,078

)

(932,574

)

The Coniston Hotel Limited (Registered number: 03459771)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 11,581,308 11,724,578
Investments 10 630,416 630,416
12,211,724 12,354,994

CURRENT ASSETS
Stocks 11 191,755 133,243
Debtors 12 266,524 139,949
Cash at bank and in hand 47,184 16,907
505,463 290,099
CREDITORS
Amounts falling due within one year 13 (3,398,973 ) (2,633,570 )
NET CURRENT LIABILITIES (2,893,510 ) (2,343,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,318,214

10,011,523

CREDITORS
Amounts falling due after more than one
year

14

(6,305,292

)

(6,170,205

)

PROVISIONS FOR LIABILITIES 19 (651,818 ) (677,994 )

ACCRUALS AND DEFERRED INCOME 20 (78,525 ) (81,667 )
NET ASSETS 2,282,579 3,081,657

CAPITAL AND RESERVES
Called up share capital 21 700,000 700,000
Share premium 22 60,000 60,000
Fair valuation reserve 22 1,813,150 1,713,224
Retained earnings 22 (290,571 ) 608,433
SHAREHOLDERS' FUNDS 2,282,579 3,081,657

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





M J R Bannister - Director


The Coniston Hotel Limited (Registered number: 03459771)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up Fair
share Retained Share valuation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2022 700,000 684,317 60,000 2,569,914 4,014,231

Changes in equity
Total comprehensive income - (75,884 ) - (856,690 ) (932,574 )
Balance at 31 March 2023 700,000 608,433 60,000 1,713,224 3,081,657

Changes in equity
Total comprehensive income - (899,004 ) - 99,926 (799,078 )
Balance at 31 March 2024 700,000 (290,571 ) 60,000 1,813,150 2,282,579

The Coniston Hotel Limited (Registered number: 03459771)

Cash Flow Statement
for the year ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 586,361 213,158
Interest paid (569,024 ) (420,932 )
Interest element of hire purchase payments
paid

(299

)

(924

)
Taxation refund - 76,619
Net cash from operating activities 17,038 (132,079 )

Cash flows from investing activities
Purchase of tangible fixed assets (119,863 ) (612,893 )
Sale of tangible fixed assets - 269,240
Net cash from investing activities (119,863 ) (343,653 )

Cash flows from financing activities
Loan repayments in year (200,495 ) (382,985 )
Capital repayments in year (10,201 ) (14,028 )
Amount introduced by directors - 115,538
Amount withdrawn by directors (175,677 ) -
Net cash from financing activities (386,373 ) (281,475 )

Decrease in cash and cash equivalents (489,198 ) (757,207 )
Cash and cash equivalents at beginning of
year

2

(212,996

)

544,211

Cash and cash equivalents at end of year 2 (702,194 ) (212,996 )

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Cash Flow Statement
for the year ended 31 March 2024

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Loss before taxation (925,180 ) (72,687 )
Depreciation charges 293,623 287,890
Loss/(profit) on disposal of fixed assets 69,436 (5,181 )
Government grants (3,142 ) (3,142 )
Finance costs 569,323 421,856
4,060 628,736
Increase in stocks (58,512 ) (15,593 )
Decrease in trade and other debtors 49,102 3,731
Increase/(decrease) in trade and other creditors 591,711 (403,716 )
Cash generated from operations 586,361 213,158

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 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 47,184 16,907
Bank overdrafts (749,378 ) (229,903 )
(702,194 ) (212,996 )
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 16,907 611,730
Bank overdrafts (229,903 ) (67,519 )
(212,996 ) 544,211


The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Cash Flow Statement
for the year ended 31 March 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 16,907 30,277 47,184
Bank overdrafts (229,903 ) (519,475 ) (749,378 )
(212,996 ) (489,198 ) (702,194 )
Debt
Finance leases (31,829 ) 10,201 (21,628 )
Debts falling due within 1 year (562,504 ) 341,107 (221,397 )
Debts falling due after 1 year (6,148,577 ) (140,612 ) (6,289,189 )
(6,742,910 ) 210,696 (6,532,214 )
Total (6,955,906 ) (278,502 ) (7,234,408 )

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

The Coniston Hotel 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the applications of policies and the reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Management reviews its estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to mechanical and technological obsolescence that may change the utility of certain plant and equipment.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements for the year ended 31 March 2024 have been prepared on the going concern basis.

In the year ended 31 March 2024, the Company generated a loss for the financial year of £899,004 and as at the balance sheet date the company had net current liabilities of £2,893,510, net assets of £2,282,579 and cash of £47,184. Since March 2024, trading conditions have remained challenging, with increased costs throughout.

However going forward into 2024/2025, to combat the continued increase in costs and stagnant demand the business has introduced a range of new initiatives to assist in increasing prices and room rates where possible, maintaining costs at sensible levels and to drive more efficiency via improved systems. They are also working closely with a team of consultants who are assisting in the aim to turn the business around.

Post year end management accounts have shown an increase in turnover levels and reduction in losses, with an expected profit at the end of March 2026.

The Directors have confidence that the funding arrangements in place for the next 12 months from the date of signing these financial statements to March 2026, will be sufficient to support all trading activity & economic threats going forward.

In forming their view on going concern of the Company the directors have reviewed cashflow forecasts, taking into consideration the Company's financing arrangements, trading patterns and trading risks. The cashflow forecasts are based on the assumption of continued deferral of capital repayments and the overdraft facility remaining at the same level.

The directors are confident of the Company's ability to secure financing within the time frame necessary to ensure continued liquidity through the going concern period and are in active discussions in this regard. However currently no extension has been agreed on the deferral of the capital repayments and the overdraft renewal date of 30 April 2025 and therefore committed financing is not in place as at the date of approval of these financial statements and as such, this represents a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.

Notwithstanding the above, the directors believe that the Company will have adequate support from the bank and adequate resources to continue to operation until March 2026. As such the directors continue to adopt the going concern basis in preparing the financial statements. these financial statement do not include any adjustments to the balance sheet value of assets or their recoverable amounts or to provide for further liabilities which may arise if the going concern basis of preparation is inappropriate.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue comprises the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

The Company recognises revenue when:
-the significant risks and rewards of the goods and services provided have transferred to the customer;
-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 activities.

Revenue from room sales and other guest services is recognised when rooms are occupied and as services are provided. Deferred revenue consisting of deposits in advance and voucher sales, is recognises as revenue when the services are performed.

Turnover in respect of monthly spa subscriptions is recognised over the month to which it relates.

Intangible assets
Goodwill arising on acquisition of a business is carried at cost less accumulated amortisation and impairment losses, if any. Amortisation is calculated on a straight line basis over the useful economic life of 6 years.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Depreciation and tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - 15% on reducing balance
Office equipment & furniture - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 25% on cost

Land and buildings held and used in the company's own activities for production and supply of goods are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation in 'other reserves'.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Land is not depreciated.

Assets are not depreciated in the year of acquisition.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised within administrative expenses in the income statement.

Legal fees and borrowing costs are capitalised as part of the cost of an assets where they are directly attributable to the acquisition, construction or production of a qualifying asset.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. Impairment loss is recognised immediately in the profit and loss.

Stock held for consumable purposes or replacements with no or nominal consideration are measured at the lower of replacement cost or cost, adjusted where applicable for obsolete or defective stock.

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.

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.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised costs using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and for an integral part of the Company's cash management.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Operating Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loan from bank and investments in non puttable ordinary shares.

Debt instruments (other than those repayable or receivable within one year), including loan and other amounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised rate using the effective interest method. 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. However if the arrangement of a short term instrument constitute a financing transaction, like the payment of a trade debts deferred beyond normal business terms or financial at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate of interest, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at the amortised cost.

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

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

Valuation of investments
Long term investments are classified as fixed assets and are measured at market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit or loss for the period. Investments that can not be reliably valued are measured at costs, together with any additional consideration paid, less provision for impairment if required.

It is the directors' opinion that the investment in the limited liability partnership can not be reliably measured and therefore it has been measured at costs, together with any additional consideration paid, less provision for impairment if required.

3. TURNOVER

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

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

31.3.24 31.3.23
£    £   
Sale of goods and services 8,046,505 8,077,087
8,046,505 8,077,087

All turnover arose within the United Kingdom.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 3,489,205 3,108,015
Social security costs 252,880 232,894
Other pension costs 51,679 46,133
3,793,764 3,387,042

The average number of employees during the year was as follows:
31.3.24 31.3.23

Direct & administration 139 130

31.3.24 31.3.23
£    £   
Directors' remuneration 257,603 252,993
Directors' pension contributions to money purchase schemes 3,963 3,963

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
31.3.24 31.3.23
£    £   
Emoluments etc 86,301 85,574
Pension contributions to money purchase schemes 1,321 1,321

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Depreciation - owned assets 283,126 282,463
Depreciation - assets on hire purchase contracts 10,497 5,427
Loss/(profit) on disposal of fixed assets 69,436 (5,181 )
Audit fees 13,317 14,222
Auditors' remuneration for non audit work 6,273 4,474
Amortisation of government grants 3,142 3,142
Operating lease rentals 74,162 73,042

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Bank loan interest 569,024 420,932
Hire purchase 299 924
569,323 421,856

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
31.3.24 31.3.23
£    £   
Deferred tax (26,176 ) 3,197
Tax on loss (26,176 ) 3,197

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Loss before tax (925,180 ) (72,687 )
Loss multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

(231,295

)

(13,811

)

Effects of:
Expenses not deductible for tax purposes 17,710 9,407
Depreciation on ineligibles 20,987 17,769
Losses not provided 166,422 -
Effect of change in rate of taxation - 767
Other short term timing differences - 2,978


Enhanced capital allowances - (13,913 )
Total tax (credit)/charge (26,176 ) 3,197

Tax effects relating to effects of other comprehensive income

31.3.24
Gross Tax Net
£    £    £   
Revaluation 99,926 - 99,926

31.3.23
Gross Tax Net
£    £    £   
Revaluation (868,844 ) 12,154 (856,690 )

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 183,792
AMORTISATION
At 1 April 2023
and 31 March 2024 183,792
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

9. TANGIBLE FIXED ASSETS
Office
Freehold Plant and equipment Motor
property machinery & furniture vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 10,500,000 1,164,133 2,326,140 79,755 14,070,028
Additions 5,125 48,780 65,958 - 119,863
Disposals - (519,710 ) (282,125 ) - (801,835 )
Revaluations (5,125 ) - - - (5,125 )
At 31 March 2024 10,500,000 693,203 2,109,973 79,755 13,382,931
DEPRECIATION
At 1 April 2023 - 868,389 1,446,149 30,912 2,345,450
Charge for year 105,051 44,362 131,998 12,212 293,623
Eliminated on disposal - (484,245 ) (248,154 ) - (732,399 )
Revaluation adjustments (105,051 ) - - - (105,051 )
At 31 March 2024 - 428,506 1,329,993 43,124 1,801,623
NET BOOK VALUE
At 31 March 2024 10,500,000 264,697 779,980 36,631 11,581,308
At 31 March 2023 10,500,000 295,744 879,991 48,843 11,724,578

Cost or valuation at 31 March 2024 is represented by:

Office
Freehold Plant and equipment Motor
property machinery & furniture vehicles Totals
£    £    £    £    £   
Valuation in 2021 948,850 - - - 948,850
Valuation in 2023 (1,098,077 ) - - - (1,098,077 )
Valuation in 2024 (5,125 ) - - - (5,125 )
Cost 10,654,352 693,203 2,109,973 79,755 13,537,283
10,500,000 693,203 2,109,973 79,755 13,382,931

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 10,654,351 10,649,226
Aggregate depreciation 1,950,441 1,846,349

Value of land in freehold land and buildings 240,000 240,000

Freehold property were valued on an open market basis on 31 March 2024 by Christie & Co .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Office
equipment Motor
& furniture vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 23,380 31,850 55,230
Transfer to ownership (23,380 ) - (23,380 )
At 31 March 2024 - 31,850 31,850
DEPRECIATION
At 1 April 2023 6,488 - 6,488
Charge for year 2,534 7,963 10,497
Transfer to ownership (9,022 ) - (9,022 )
At 31 March 2024 - 7,963 7,963
NET BOOK VALUE
At 31 March 2024 - 23,887 23,887
At 31 March 2023 16,892 31,850 48,742

10. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 630,416
NET BOOK VALUE
At 31 March 2024 630,416
At 31 March 2023 630,416

Unlisted Investments reflect the company's interest in The Coniston Shooting Ground LLP, an LLP registered in England and Wales (number OC304335). The Coniston Hotel Limited is a designated member of this LLP.

The total members' interests of The Coniston Shooting Ground LLP at 31 March 2024 were £580,157 (2023: £568,354) and the loss for the year ending 31 March 2024 was £38,722 (2023: £40,467 profit).

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. STOCKS
31.3.24 31.3.23
£    £   
Stocks 191,755 133,243

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 14,216 7,042
Other debtors 3,688 -
Directors' loan accounts 178,564 2,887
Prepayments and accrued income 70,056 130,020
266,524 139,949

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 15) 970,775 792,407
Hire purchase contracts (see note 16) 5,525 10,201
Trade creditors 516,797 282,633
Social security and other taxes 470,749 291,401
Other creditors 86,752 185,507
Accruals and deferred income 1,348,375 1,071,421
3,398,973 2,633,570

The bank loans and overdrafts are secured by a debenture over the assets of the company and by a first legal charge over its freehold property.

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 15) 6,289,189 6,148,577
Hire purchase contracts (see note 16) 16,103 21,628
6,305,292 6,170,205

The bank loans and overdrafts are secured by a debenture over the assets of the company and by a first legal charge over its freehold property.

15. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 749,378 229,903
Bank loans 221,397 562,504
970,775 792,407

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

15. LOANS - continued
31.3.24 31.3.23
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 826,020 581,564

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,463,169 5,567,013

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 5,525 10,201
Between one and five years 16,103 21,628
21,628 31,829

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 54,440 53,921
Between one and five years 150,351 175,794
In more than five years 2,931,552 2,967,744
3,136,343 3,197,459

The operating leases are for gym equipment, motor vehicles and a lease for the land where the spa is situated. The lease terms are up to 5 years except for the land which is a 99 year lease.

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

17. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 749,378 229,903
Bank loans 6,510,586 6,711,081
Hire purchase contracts 21,628 31,829
Pension loan 8,000 8,000
7,289,592 6,980,813

The bank loans and overdrafts are secured by a debenture over the assets of the company and by a first legal charge over its freehold property.

Bank loans include the following:
- A loan outstanding of £5,962,361 repayable by January 2027. The loan bears interest at 3.75% above the Bank's Base Rate.

- A loan outstanding of £308,359 repayable by May 2026. The loan bears interest at 3% above the Bank of England's Base Rate.

- A loan outstanding of £239,867 repayable by May 2027. The loan bears interest at 3% above the Bank of England's Base Rate.

The directors consider that the carrying amounts of the bank loans and overdraft approximate to their fair value.

At the reporting date the bank covenants had been breached.

There is a loan of £8,000 outstanding due to The Bannister Family Pension Trust repayable by April 24.The loan bears interest at 1%. The loan is secured by a first legal charge over Mr N W A Bannister's 70,000 company shares.

18. FINANCIAL INSTRUMENTS

31.03.24 31.03.23
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 266,524 139,949
Carrying amount of financial liabilities
Measured at amortised cost 9,233,118 8,512,374


19. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Short term timing differences 651,818 677,994

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

19. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 677,994
Provided during year (26,176 )
Fair valuation of property
Balance at 31 March 2024 651,818

20. ACCRUALS AND DEFERRED INCOME
31.3.24 31.3.23
£    £   
Deferred government grants 78,525 81,667

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
700,000 Ordinary £1 700,000 700,000

The Ordinary shares carry rights of one vote per share and have no restrictions on the distribution of dividends and the repayment of capital.

22. RESERVES
Fair
Retained Share valuation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 608,433 60,000 1,713,224 2,381,657
Deficit for the year (899,004 ) - - (899,004 )
Fair valuation reserves - - 99,926 99,926
At 31 March 2024 (290,571 ) 60,000 1,813,150 1,582,579

23. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. During the year £51,679 (2023: £46,132) has been charged to the profit and loss account in respect of pension contributions. Contributions totalling £10,854 (2023: £8,007) were payable to the fund at the balance sheet date and are included in creditors.

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a loan subsisted between the company and MJR Bannister and NWA Bannister. During the year there were drawings of £175,675 (2023: £172,462) and capital introduced of £nil (2023: £288,000). The loan included in debtors at the balance sheet date amounted to £178,564 (2023: £2,888 ). This loan is interest free and repayable on demand.

25. RELATED PARTY DISCLOSURES

The Coniston Hotel Limited (Registered number: 03459771)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

25. RELATED PARTY DISCLOSURES - continued

Key management personnel of the entity or its parent (in the aggregate)
31.3.24 31.3.23
£    £   
Purchases 167,012 177,713
Amount due to related party 52,430 153,904

Other related parties
31.3.24 31.3.23
£    £   
Amount due to related party 8,000 8,000

During the year, a total of key management personnel compensation of £ 257,603 (2023 - £ 252,993 ) was paid.

26. ULTIMATE CONTROLLING PARTY

The controlling party is M J R Bannister.