REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Callow Hall Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Callow Hall Limited |
Callow Hall Limited (Registered number: 10427163) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Other Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Cash Flow Statement | 13 |
Notes to the Cash Flow Statement | 14 |
Notes to the Financial Statements | 15 |
Callow Hall Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Greenhill House |
First Floor East Wing |
Thorpe Road |
Peterborough |
Cambridgeshire |
PE3 6RU |
Callow Hall Limited (Registered number: 10427163) |
Strategic Report |
for the Year Ended 30 June 2024 |
The directors present their strategic report for the year ended 30 June 2024. |
REVIEW OF BUSINESS |
The business's principal activity during the year was to operate a boutique country hotel, with experiential accommodation. |
The business performance improved and reached stabilisation, following the major refurbishment and investment program, which concluded in 2022. |
The directors consider turnover, EBITDA and occupancy to be the key performance indicators to monitor the success of the business |
2024 | 2023 |
Revenue | £3,798,317 | £3,691,018 |
EBITDA | £403,337 | £449,289 |
Occupancy | 72.48% | 71.64% |
PRINCIPAL RISKS AND UNCERTAINTIES |
The UK is currently in a period of economic uncertainty, including inflationary pressures and consumer confidence is also relatively low. The Government has also introduced regulations which increase payroll costs and associated levies. |
The directors consider various risks that affect the business, on a regular basis and aim to take a proactive approach on an ongoing basis, to manage costs and implement efficient processes. |
The main financial risks arising from the business's activities are credit risk and liquidity risk and these are monitored regularly by the board and are not considered to be significant at the reporting date. |
ON BEHALF OF THE BOARD: |
Callow Hall Limited (Registered number: 10427163) |
Report of the Directors |
for the Year Ended 30 June 2024 |
The directors present their report with the financial statements of the company for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a hotelier and the provision of related hospitality services. |
DIVIDENDS |
No dividends will be distributed for the year ended 30 June 2024. |
FUTURE DEVELOPMENTS |
The directors intend to continue to invest in upgrading and maintaining facilities and standards and to strengthen the businesses position in the market. The performance of the business since the substantial refurbishment, indicates the strong demand for experiential accommodation and traditional hospitality and the continued investment and implementation of revenue enhancing strategies, will put the business in a good position in the coming year. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report. |
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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Callow Hall Limited (Registered number: 10427163) |
Report of the Directors |
for the Year Ended 30 June 2024 |
AUDITORS |
The auditors, Hills Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Callow Hall Limited |
Opinion |
We have audited the financial statements of Callow Hall Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Callow Hall 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. |
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: |
- | adequate accounting records have not been kept, or 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 |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 |
Callow Hall Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including, but not limited to, fraud and non-compliance with laws and regulations was as follows: |
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience; |
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, employment, quality approval, environmental and health and safety legislation; |
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we: |
- Performed analytical procedures to identify any unusual or unexpected relationships; |
- Tested journal entries to identify unusual transactions; |
- Reviewed the internal controls in place, specifically around payroll and bank transactions; and |
- Assessed whether judgements and assumptions made in determining the accounting estimates around depreciation and stock and work in progress provisions were indicative of potential bias. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- enquiring of management as to actual and potential litigation and claims; and |
- reviewing correspondence with the company's legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
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. |
Other matters which we are required to address |
The financial statements of Callow Hall Limited for the year ended 30 June 2023 were unaudited. |
Report of the Independent Auditors to the Members of |
Callow Hall 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. |
for and on behalf of |
Greenhill House |
First Floor East Wing |
Thorpe Road |
Peterborough |
Cambridgeshire |
PE3 6RU |
Callow Hall Limited (Registered number: 10427163) |
Income Statement |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
as restated |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(339,909 | ) | 311,719 |
Other operating income |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
108,721 | 312,719 |
Interest payable and similar expenses | 6 |
PROFIT BEFORE TAXATION |
Tax on profit | 7 |
PROFIT FOR THE FINANCIAL YEAR |
Callow Hall Limited (Registered number: 10427163) |
Other Comprehensive Income |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
as restated |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Callow Hall Limited (Registered number: 10427163) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
14 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings | 17 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
Callow Hall Limited (Registered number: 10427163) |
Statement of Changes in Equity |
for the Year Ended 30 June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2022 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2023 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2024 | ( |
) | ( |
) |
Callow Hall Limited (Registered number: 10427163) |
Cash Flow Statement |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
as restated |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Group undertakings | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Capital repayments in year | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
558,155 |
Cash and cash equivalents at end of year | 2 | 551,171 | 374,016 |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Cash Flow Statement |
for the Year Ended 30 June 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Profit before taxation |
Depreciation charges |
Finance costs | 890 | 1,016 |
Finance income | (4,504 | ) | - |
398,833 | 449,289 |
Decrease/(increase) in stocks | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations |
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 30 June 2024 |
30.6.24 | 1.7.23 |
£ | £ |
Cash and cash equivalents | 551,171 | 374,016 |
Year ended 30 June 2023 |
30.6.23 | 1.7.22 |
as restated |
£ | £ |
Cash and cash equivalents | 374,016 | 558,155 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.23 | Cash flow | At 30.6.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 374,016 | 177,155 | 551,171 |
374,016 | 551,171 |
Debt |
Finance leases | (16,251 | ) | 4,786 | (11,465 | ) |
(16,251 | ) | 4,786 | (11,465 | ) |
Total | 357,765 | 181,941 | 539,706 |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Callow Hall Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have prepared forecasts for the company for a period greater than 12 months from the date of approval of these financial statements. The forecasts take into account known changes in the trading environment, performance, the potential impact of the war in Ukraine and funding requirements during that period. |
After making enquiries, the directors have a reasonable expectation that the company has sufficient funds to meet its liabilities as they fall due, allowing the business to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis of preparing the financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
The directors do not consider that any key judgements have been made in preparing these financial statements. |
Key sources of of estimation uncertainty |
Useful economic lives and residual values of Tangible fixed assets: The company reviews the estimated useful lives of the Tangible Fixed Assets at the end of each reporting period. During the current period the Directors have concluded that the lives of certain assets required revision. See below under the heading of "Changes in accounting estimate". |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover represents the total revenue generated from the hotel’s operations, including room rentals, food and beverage sales, and other ancillary services. All revenue is recorded net of VAT. |
Revenue relating to accommodation is recognised on a straight line basis over the period of the stay. Advance payments received for bookings are recorded as 'Accruals and deferred income" until the holiday commences. |
Services revenue such as spa treatments, food and beverages, and other services are recognised when the service is provided. |
Gift Voucher Revenue is deferred on the balance sheet as "Accruals and deferred income" until the voucher is redeemed against a booking. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Freehold buildings include permanent cabin installations (treehouses) constructed on freehold land owned by a fellow group company. The trading company occupies the land under an open-ended licence agreement, with no restrictions on use. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, 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 balance sheet date. |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Changes in accounting estimate |
During the financial year, the company conducted a comprehensive review of the useful lives and residual values of its tangible fixed assets at the balance sheet date. As a result of this review, the following changes in accounting estimates were made: |
Useful Lives: |
The useful lives of certain categories of assets were revised based upon the directors updated information about their expected economic benefits. The changes are as follows: |
Freehold property:Increased from Nil to 20 years |
Property Improvements: Increased from Nil to 50 years |
Plant and Machinery: Increased from 25% reducing balance to 10 years. |
Fixtures and Fittings Increased from 15% reducing balance to 10 years. |
Computer equipment: Increased from 33% reducing balance to 3 years. |
Impact on Financial Statements: |
The changes in accounting estimates have been applied prospectively from the date of the change. The effect of these changes has been to increase the depreciation expense by £181,205. |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by class of business is given below: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
4. | EMPLOYEES AND DIRECTORS |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.6.24 | 30.6.23 |
as restated |
Hotel and restaurant staff | 102 | 91 |
Management | 4 | 4 |
Directors | 2 | 2 |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Directors' remuneration |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
Goodwill amortisation |
Auditors' remuneration |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Hire purchase |
7. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Depreciation in excess of capital allowances |
Utilisation of tax losses | ( |
) | ( |
) |
Total tax charge | - | - |
At the financial year end the company had unrecognised deferred tax asset amounting to £962,361 (2023 £1,046,296). This represents the unutilised tax losses at the standard rate of corporation tax. |
8. | PRIOR YEAR ADJUSTMENT |
During the financial period the directors considered that wages and salaries and other associated costs would be more appropriately classified under the statutory heading of 'Cost of sales'. The comparative period has been restated which resulted in wages and salaries and other associated costs amounting to £1,444,166 being moved from 'Administrative expenses' to 'Cost of sales'. |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
Amortisation for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
10. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
10. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
11. | STOCKS |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Stocks |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
12. | DEBTORS |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Directors' loan accounts | - | 1,147 |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Hire purchase contracts (see note 15) |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 606 | - |
Accruals and deferred income |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Hire purchase contracts (see note 15) |
Amounts owed to group undertakings |
15. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Callow Hall Limited (Registered number: 10427163) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | as restated |
£ | £ |
Ordinary shares | £1 | 2 | 2 |
17. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2023 | ( |
) |
Profit for the year |
At 30 June 2024 | ( |
) |
18. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £24,283 (2023 £21,813). |
At the financial year end the company had £5,363 (2023 £4,112) of unpaid contributions. |
19. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023: |
30.6.24 | 30.6.23 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
20. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking is Wildhive Collection Limited. The smallest and largest group for which the financial statements are drawn up and of which the company is included is headed by Wildhive Collection Limited. |
Consolidated accounts are available from Wildhive Collection Limited, 1 Maiden Lane, Stamford, Lincolnshire PE9 2AZ. |
21. | UNAUDITED COMPARATIVES |
The financial statements of Callow Hall Limited for the year ended 30 June 2023 were unaudited. |