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REGISTERED NUMBER: 01593427















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

WHITLEY HALL HOTEL LIMITED

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)






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 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


WHITLEY HALL HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: R D V Broadbent
Mrs A Stanley



SECRETARY: R D V Broadbent



REGISTERED OFFICE: Whitley Hall, Elliott Lane
Grenoside
Sheffield
S35 8NR



REGISTERED NUMBER: 01593427



AUDITORS: Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB



BANKERS: HSBC UK
Carmel House
49-63 Fargate
Sheffield
S1 2HD

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

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 results of the company for the year and its financial position are shown in the annexed financial statements.

For the year ended 30 June 2024, the company achieved a profit before tax of £418,555 (2023: £316,091) on turnover of £4,034,898 (2023; £4,032,915).

The adoption of a robust pricing policy meant that prices in general were stronger during this period and the gross profit margin improved to 39.6% compared with 38.2% in the previous year.

2025 looks as though it will be a challenging year for this industry, due almost wholly to government policy. Weddings were slow to sell for this period so we offered some discounts to help increase bookings, which appeared to work. This along with huge NIC and minimum wage hikes indicates a drop in profits for the year and undoubtedly staff layoffs.

2026 looks better with higher wedding rates and increased trade form recent refurbishments. Profits should increase, depending on the lack of introduction of any further punitive government policy changes.

Overall, the directors are satisfied with the performance for the year.

PRINCIPAL RISKS AND UNCERTAINTIES
Financing and interest rates

In addition to the cashflows generated from the company's trading activities, the company has access to loans from its parent undertaking and directors. Whilst the company has a small overdraft facility, there is rarely a need to use this. There is an interest rate risk attaching to the bank overdraft, but this is minimal. The company took advantage of the Coronovirus Business Interruption Loan Scheme. The loan is repayable over 5 years and bears interest at a variable rate based on Bank of England base rates.

The company does not trade in financial instruments and has no other form of derivatives.

Cashflows

Under the current economic climate, maintaining cashflow generated from the company's trading activities is of paramount importance. This will be monitored closely to ensure cashflows are sufficient to enable the company to meet its obligations.

Competition

Competitive risk exists in all business and customers in the hotel sector are very price sensitive so this sector is exceptionally competitive. The company's objective is to be able to identify such risks at an early stage so that an appropriate strategy can be implemented to reduce that risk.

ON BEHALF OF THE BOARD:





R D V Broadbent - Director


26 March 2025

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

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 hoteliers and restaurateurs.

DIVIDENDS
The total distribution of dividends for the period ended 30 June 2024 amounts to £365,000.

FUTURE DEVELOPMENTS
The directors will continue to focus on upgrading the hotel, expanding the services and facilities to diversify the trade. Efforts will also continue towards increasing the core business and expanding the social media profile.

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

R D V Broadbent
Mrs A Stanley

QUALIFYING THIRD PARTY INDEMNITY PROVISION
During the financial year and at the time the directors report is approved, a Qualifying Third Party Indemnity Provision for the benefit of the directors remained in force.

DISCLOSURE IN THE STRATEGIC REPORT
Certain items required under Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports Regulations) 2008 to be disclosed in the directors' report are set out in the Strategic Report in accordance with S414C(11) Companies Act 2006.

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.

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


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.

ON BEHALF OF THE BOARD:





R D V Broadbent - Director


26 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WHITLEY HALL HOTEL LIMITED

Opinion
We have audited the financial statements of Whitley Hall Hotel 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 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).

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
WHITLEY HALL 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.

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.

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:

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance and the entity's in-house legal team around actual and potential litigation and claims;
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the further that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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
WHITLEY HALL 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.




Peter Hollis (Senior Statutory Auditor)
for and on behalf of Hollis and Co Limited
Chartered Accountants
Statutory Auditor
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

28 March 2025

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 4 4,034,898 4,032,915

Cost of sales 2,436,221 2,489,763
GROSS PROFIT 1,598,677 1,543,152

Administrative expenses 1,235,425 1,264,235
363,252 278,917

Other operating income 69,808 41,282
OPERATING PROFIT 6 433,060 320,199

Interest receivable and similar income 9 469
433,069 320,668

Interest payable and similar expenses 7 14,514 4,577
PROFIT BEFORE TAXATION 418,555 316,091

Tax on profit 8 100,932 41,307
PROFIT FOR THE FINANCIAL YEAR 317,623 274,784

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 317,623 274,784


OTHER COMPREHENSIVE INCOME
Deferred tax on revaluation reserve (2,175 ) 2,872
Revaluation reserve (277,511 ) -
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(279,686

)

2,872
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

37,937

277,656

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 5,744,940 6,000,383

CURRENT ASSETS
Stocks 11 38,768 29,377
Debtors 12 675,980 787,616
Cash at bank and in hand 279,493 480,401
994,241 1,297,394
CREDITORS
Amounts falling due within one year 13 1,914,475 2,095,355
NET CURRENT LIABILITIES (920,234 ) (797,961 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,824,706

5,202,422

CREDITORS
Amounts falling due after more than one
year

14

(103,405

)

(156,233

)

PROVISIONS FOR LIABILITIES 18 (234,582 ) (232,407 )
NET ASSETS 4,486,719 4,813,782

CAPITAL AND RESERVES
Called up share capital 19 4,107 4,107
Share premium 20 332,449 332,449
Revaluation reserve 20 2,279,993 2,559,679
Retained earnings 20 1,870,170 1,917,547
SHAREHOLDERS' FUNDS 4,486,719 4,813,782

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:





R D V Broadbent - Director


WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 July 2022 4,107 2,064,123 332,449 2,556,807 4,957,486

Changes in equity
Dividends - (421,360 ) - - (421,360 )
Total comprehensive income - 274,784 - 2,872 277,656
Balance at 30 June 2023 4,107 1,917,547 332,449 2,559,679 4,813,782

Changes in equity
Dividends - (365,000 ) - - (365,000 )
Total comprehensive income - 317,623 - (279,686 ) 37,937
Balance at 30 June 2024 4,107 1,870,170 332,449 2,279,993 4,486,719

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. COMPANY INFORMATION

Whitley Hall Hotel Limited is a private company, limited by shares, incorporated in England and Wales. Its registered office and principal place of business can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The figures in the financial statements are rounded to the nearest £.

These financial statements cover the entity as an individual company.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
- Key sources of estimation uncertainty.

The Company believes that there are no areas of material estimation uncertainty which affect the financial statements.

- Critical accounting judgements in applying the Company's accounting policies.

The Company believes that the major judgements applied are: the use of the going concern principle which is based on the belief that the company will have adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover represents net invoiced sales of services provided, excluding value added tax, in the normal course of business and recognised when services have been rendered.

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

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.
Freehold property - 10% on cost and Straight line over 99 years
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost and Over period of lease
Computer equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

As stated above, the depreciation policy for land and buildings is straight line over 99 years. As the estimated residual value of the hotel land and buildings is considered not to be materially different from its current carrying value, no depreciation has been charged. Depreciation is being charged on a separate freehold property at a rate of 2% per annum.

Depreciation of assets only commences when the asset is brought into use.

Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value.

Stocks
Stocks are stated at the lower of cost, using the first in first out method, and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial Assets and Liabilities

The company's group loans receivable and payable meet the definition of a basic financial instrument, so they are originally recognised at the transaction price.

Debt instruments which are financing transactions at a rate of interest that is not a market rate.

Where debt instruments are classified as assets due after more than one year or long term liabilities, then the company measures these at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Where debt instruments are classified as current assets or current liabilities, then there is no present value adjustment to the initial measurement based on amortised cost.

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.


WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. 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.

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.

Investments
Investments are included at the lower of cost or net recoverable amount.

Government grants
Government grants received which are of a capital nature, are recognised as deferred income in the balance sheet and then credited to the profit and loss account at the same rate as the depreciation charge of the relevant asset.

Government grants received which are of a revenue nature are credited directly to the profit and loss account.

4. 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:

2024 2023
£    £   
Operation of a hotel 4,034,898 4,032,915
4,034,898 4,032,915

All turnover arose in the United Kingdom.

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,616,025 1,600,525
Social security costs 115,971 120,940
Other pension costs 21,932 28,821
1,753,928 1,750,286

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Staff in hotel operations 84 86
Directors and administration 2 2
86 88

2024 2023
£    £   
Directors' remuneration 2,451 2,629

6. OPERATING PROFIT

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

2024 2023
£    £   
Depreciation - owned assets 52,546 45,517
Profit on disposal of fixed assets - (2,150 )
Auditors' remuneration 4,000 4,000
Operating leases - plant and machinery 15,392 14,110

During the year, the company's parent undertaking, HLW 229 Limited raised management charges amounting to £42,000 (2023: £42,000) which included amounts for providing the services of Mr Broadbent and Mrs Stanley as directors of the company.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 13,618 3,844
Hire purchase 896 733
14,514 4,577

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 100,932 41,307
Tax on profit 100,932 41,307

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. TAXATION - continued

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:

2024 2023
£    £   
Profit before tax 418,555 316,091
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.495%)

104,639

64,783

Effects of:
Income not taxable for tax purposes 2 (441 )
Depreciation in excess of capital allowances (1,418 ) (2,770 )
Group losses (2,291 ) (20,265 )
Total tax charge 100,932 41,307

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Deferred tax on revaluation reserve (2,175 ) - (2,175 )
Revaluation reserve (277,511 ) - (277,511 )
(279,686 ) - (279,686 )

2023
Gross Tax Net
£    £    £   
Deferred tax on revaluation reserve 2,872 - 2,872

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 365,000 421,360

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST OR VALUATION
At 1 July 2023 5,913,702 96,944 173,067
Additions 40,049 6,923 15,994
Revaluations (277,511 ) (89,005 ) (142,333 )
At 30 June 2024 5,676,240 14,862 46,728
DEPRECIATION
At 1 July 2023 18,756 83,093 126,152
Charge for year 11,289 5,912 16,181
Revaluation adjustments - (89,005 ) (142,333 )
At 30 June 2024 30,045 - -
NET BOOK VALUE
At 30 June 2024 5,646,195 14,862 46,728
At 30 June 2023 5,894,946 13,851 46,915

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 22,702 89,162 6,295,577
Additions - 11,648 74,614
Revaluations - - (508,849 )
At 30 June 2024 22,702 100,810 5,861,342
DEPRECIATION
At 1 July 2023 3,986 63,207 295,194
Charge for year 3,475 15,689 52,546
Revaluation adjustments - - (231,338 )
At 30 June 2024 7,461 78,896 116,402
NET BOOK VALUE
At 30 June 2024 15,241 21,914 5,744,940
At 30 June 2023 18,716 25,955 6,000,383

Cost or valuation at 30 June 2024 is represented by:

Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
Valuation in 2024 5,538,414 14,862 46,728
Cost 137,826 - -
5,676,240 14,862 46,728

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2024 - - 5,600,004
Cost 22,702 100,810 261,338
22,702 100,810 5,861,342

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

2024 2023
£    £   
Cost 4,689,728 4,615,114
Aggregate depreciation 1,622,224 1,569,676

A formal valuation of the group's freehold interest in Whitley Hall Hotel was undertaken in July 2024 by Colliers International Property Consultants Limited who determined that the market value of the freehold interest in the property at 30 June 2024 is at £5.6m.

This is a 'desktop' valuation following RICS 'Red Book' best practice.

In accordance with the requirements of FRS 102, provision for deferred taxation has been made in full on the revaluation of fixed assets.

11. STOCKS
2024 2023
£    £   
Stocks - liquor and food 38,768 29,377

Stock recognised in cost of sales during the year as an expense was £694,432 (2023 £739,477)

The total carrying amount of stock is pledged as security for the group's bank borrowings.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,917 17,481
Amounts owed by group undertakings 560,979 692,998
Other debtors 14,764 5,651
Directors' current accounts - 23,149
Tax 7,588 7,588
VAT 24,142 19,703
Prepayments 59,590 21,046
675,980 787,616

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 50,000 50,000
Hire purchase contracts (see note 16) 2,829 2,829
Trade creditors 136,764 215,414
Tax 100,932 42,370
Social security and other taxes 23,178 33,660
Other creditors 43,816 53,989
Directors' current accounts 3,435 -
Accruals and deferred income 1,553,521 1,697,093
1,914,475 2,095,355

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 91,667 141,667
Hire purchase contracts (see note 16) 11,738 14,566
103,405 156,233

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 50,000 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 50,000 50,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 41,667 91,667

Interest is charged at 3% over the Bank's Sterling Base Rate and the loan is repayable over 6 years..

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,829 2,829
Between one and five years 11,738 14,566
14,567 17,395

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

16. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 14,110

17. SECURED DEBTS

The company, together with its parent undertaking have given an Unlimited Multilateral guarantee dated 3 September 2004 to HSBC Bank plc to secure all liabilities of each other. There is a legal right of set off over all balances owed to or by the bank by the group.

In addition the bank has a Fixed charge over Book Debts, a Floating Charge over all other assets and a First legal charge over the company's licenced Freehold property.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation of property 234,582 232,407

Deferred
tax
£   
Balance at 1 July 2023 232,407
Provided during year 2,175
Balance at 30 June 2024 234,582

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,107 Ordinary £1 4,107 4,107

20. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 1,917,547 332,449 2,559,679 4,809,675
Profit for the year 317,623 317,623
Dividends (365,000 ) (365,000 )
Revaluation surplus - - (277,511 ) (277,511 )
Deferred taxation release - - (2,175 ) (2,175 )
At 30 June 2024 1,870,170 332,449 2,279,993 4,482,612

WHITLEY HALL HOTEL LIMITED (REGISTERED NUMBER: 01593427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

21. PENSION COMMITMENTS

During the year, the company has contributed to the personal pension schemes of certain employees.

The assets of the schemes are held separately from those of the company in independently administered funds. The contributions payable for the year amounted to £21,932 (2023 : £28,821), whilst outstanding contributions amounted to £2,274 (2023 : £12,254)

22. ULTIMATE PARENT COMPANY

The ultimate parent undertaking of the company is HLW 229 Limited who's registered office address is Whitley Hall Hotel, Whitley Hall Elliott Lane, Grenoside, South Yorkshire, S35 8NR.
The parent undertaking prepares consolidated financial statements which are available from the registered office address.

23. 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:

2024 2023
£    £   
R D V Broadbent
Balance outstanding at start of year 23,149 20,000
Amounts advanced 416 3,149
Amounts repaid (27,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,435 ) 23,149

The advance is interest free and there is no fixed repayment term. The amount is included within creditors at 30 June 2024.

24. RELATED PARTY DISCLOSURES

Paid management charges to HLW 229 Limited amounting to £42,000 (2023:£42,000). The amount owing to HLW 229 Limited at the year end of £5,600 (2023: £7,600) is disclosed within trade creditors

During the year, a total of key management personnel compensation of £ 105,347 (2023 - £ 111,904 ) was paid.

25. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R D V Broadbent, a director and majority shareholder in HLW 229 Limited.