Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312024-03-31falsefalse2023-04-01falseThe Group's principal activity is that of a chain of hotels.56false 06352914 2023-04-01 2024-03-31 06352914 2022-04-01 2023-03-31 06352914 2024-03-31 06352914 2023-03-31 06352914 2022-04-01 06352914 1 2023-04-01 2024-03-31 06352914 d:CompanySecretary1 2023-04-01 2024-03-31 06352914 d:Director1 2023-04-01 2024-03-31 06352914 d:Director2 2023-04-01 2024-03-31 06352914 d:RegisteredOffice 2023-04-01 2024-03-31 06352914 c:Buildings 2023-04-01 2024-03-31 06352914 c:Buildings 2024-03-31 06352914 c:Buildings 2023-03-31 06352914 c:PlantMachinery 2023-04-01 2024-03-31 06352914 c:MotorVehicles 2023-04-01 2024-03-31 06352914 c:MotorVehicles 2024-03-31 06352914 c:MotorVehicles 2023-03-31 06352914 c:FurnitureFittings 2023-04-01 2024-03-31 06352914 c:FurnitureFittings 2024-03-31 06352914 c:FurnitureFittings 2023-03-31 06352914 c:CurrentFinancialInstruments 2024-03-31 06352914 c:CurrentFinancialInstruments 2023-03-31 06352914 c:Non-currentFinancialInstruments 2024-03-31 06352914 c:Non-currentFinancialInstruments 2023-03-31 06352914 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 06352914 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 06352914 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 06352914 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 06352914 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 06352914 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 06352914 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 06352914 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 06352914 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 06352914 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 06352914 c:ShareCapital 2023-04-01 2024-03-31 06352914 c:ShareCapital 2024-03-31 06352914 c:ShareCapital 2022-04-01 2023-03-31 06352914 c:ShareCapital 2023-03-31 06352914 c:ShareCapital 2022-04-01 06352914 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06352914 c:RetainedEarningsAccumulatedLosses 2024-03-31 06352914 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06352914 c:RetainedEarningsAccumulatedLosses 2023-03-31 06352914 c:RetainedEarningsAccumulatedLosses 2022-04-01 06352914 d:OrdinaryShareClass1 2023-04-01 2024-03-31 06352914 d:OrdinaryShareClass1 2024-03-31 06352914 d:OrdinaryShareClass1 2023-03-31 06352914 d:FRS102 2023-04-01 2024-03-31 06352914 d:Audited 2023-04-01 2024-03-31 06352914 d:FullAccounts 2023-04-01 2024-03-31 06352914 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06352914 c:Subsidiary1 2023-04-01 2024-03-31 06352914 c:Subsidiary1 1 2023-04-01 2024-03-31 06352914 c:Subsidiary2 2023-04-01 2024-03-31 06352914 c:Subsidiary2 1 2023-04-01 2024-03-31 06352914 d:Consolidated 2024-03-31 06352914 d:ConsolidatedGroupCompanyAccounts 2023-04-01 2024-03-31 06352914 2 2023-04-01 2024-03-31 06352914 4 2023-04-01 2024-03-31 06352914 6 2023-04-01 2024-03-31 06352914 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06352914










TEDSMORE HALL LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
TEDSMORE HALL LIMITED
 
 
COMPANY INFORMATION


Directors
R Parker 
J J Turner 




Company secretary
G M Parker



Registered number
06352914



Registered office
Tedsmore Hall
Tedsmore

West Felton

Oswestry

Shropshire

SY11 4HD




Independent auditors
WR Partners
Chartered Accountants & Statutory Auditors

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG





 
TEDSMORE HALL LIMITED
 

CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Consolidated profit and loss account
 
8
Consolidated statement of comprehensive income
 
9
Consolidated balance sheet
 
10 - 11
Company balance sheet
 
12 - 13
Consolidated statement of changes in equity
 
14
Company statement of changes in equity
 
15
Consolidated statement of cash flows
 
16 - 17
Notes to the financial statements
 
18 - 36


 
TEDSMORE HALL LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

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

Business review
 
Consolidated Group turnover of £8,490,947 was achieved compared to £11,052,496 for the year to 31 March 2023. Operating profit for the year was £883,932 compared to £1,412,762  for the year ended 31 March 2023. Turnover from continuing activities was £6,183,319 which was a year on year increase of £157,398.
The Group had significant net assets at the year end of £8,284,608 (2023: £8,064,798), after net current liabilities of  £282,324 (2023: £7,580,286). Net current liabilities have significantly reduced in the year after a refinancing of banking facilities and the sale of a hotel. 

Principal risks and uncertainties
 
The management and operation of the business are subject to a number of risks and the key business risks and uncertainties affecting the Group are considered to relate to the general economic conditions within the leisure sector. 

Financial key performance indicators
 
The financial key performance indicators utilised by the Group are turnover, operating profit and net assets. An analysis of the performance and position of the business with reference to these key performance indicators is included in the business review above.

Other key performance indicators
 
The Group continues to monitor other key performance indications and review performance.


This report was approved by the board and signed on its behalf.



R Parker
Director

Date: 21 March 2025

Page 1

 
TEDSMORE HALL LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments 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 Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £219,810 (2023 - £709,654).

No dividends are proposed to be paid for the year (2023 - £nil).

Directors

The directors who served during the year were:

R Parker 
J J Turner 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Page 2

 
TEDSMORE HALL LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Post balance sheet events

During November 2024 the Group completed on the sale of the Eshott Hall property.

Auditors

The auditorsWR Partnerswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





R Parker
Director

Date: 21 March 2025

Page 3

 
TEDSMORE HALL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEDSMORE HALL LIMITED
 

Opinion


We have audited the financial statements of Tedsmore Hall Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2024, which comprise the Consolidated profit and loss account, the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 Group's and of the parent Company's affairs as at 31 March 2024 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.


Page 4

 
TEDSMORE HALL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEDSMORE HALL LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company 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.


Page 5

 
TEDSMORE HALL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEDSMORE HALL LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, 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 is 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 Group's and the parent 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 Group or the parent 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 an Auditors' report 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 Group financial statements.


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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and the Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR). 
We understood how the Company and the Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements. 
We assessed the susceptibility of the Company and Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.


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 more 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 Auditors' report.


Page 6

 
TEDSMORE HALL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TEDSMORE HALL LIMITED (CONTINUED)


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 2006Our 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 an Auditors' report 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.





John Fletcher BA (Hons) FCA (Senior statutory auditor)
  
for and on behalf of
WR Partners
 
Chartered Accountants
Statutory Auditors
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

26 March 2025
Page 7

 
TEDSMORE HALL LIMITED
 
 
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024

Continuing operations
Discontin'd operations
Total
Continuing operations
Discontinued operations
Total
2024
2024
2024
2023
2023
2023
Note
£
£
£
£
£
£

  

Turnover
 4 
6,183,319
2,307,628
8,490,947
6,025,921
5,026,575
11,052,496

Cost of sales
  
(1,571,230)
(525,458)
(2,096,688)
(1,417,507)
(1,138,985)
(2,556,492)

Gross profit
  
4,612,089
1,782,170
6,394,259
4,608,414
3,887,590
8,496,004

Administrative expenses
  
(5,800,156)
(1,382,219)
(7,182,375)
(5,391,746)
(3,327,272)
(8,719,018)

Exceptional administrative expenses
  
-
1,672,048
1,672,048
(108,334)
1,744,110
1,635,776

Operating profit/(loss)
  
(1,188,067)
2,071,999
883,932
(891,666)
2,304,428
1,412,762

Interest receivable and similar income
 7 
15,983
-
15,983
-
-
-

Interest payable and similar expenses
 8 
(674,746)
(5,359)
(680,105)
(719,228)
16,120
(703,108)

Profit/(loss) before tax
  
(1,846,830)
2,066,640
219,810
(1,610,894)
2,320,548
709,654

Profit/(loss) for the financial year
  
(1,846,830)
2,066,640
219,810
(1,610,894)
2,320,548
709,654

Profit for the year attributable to:
  

Owners of the parent
  
219,810
-
219,810
709,654
-
709,654

  
219,810
-
219,810
709,654
-
709,654

The notes on pages 18 to 36 form part of these financial statements.

Page 8

 
TEDSMORE HALL LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£


Profit for the financial year

  

219,810
709,654

Other comprehensive income
  

Total comprehensive income for the year
  
219,810
709,654

Profit for the year attributable to:
  


Owners of the parent Company
  
219,810
709,654

  
219,810
709,654

Total comprehensive income attributable to:
  


Owners of the parent Company
  
219,810
709,654

  
219,810
709,654

The notes on pages 18 to 36 form part of these financial statements.

Page 9

 
TEDSMORE HALL LIMITED
REGISTERED NUMBER: 06352914

CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
21,721,507
25,033,943

  
21,721,507
25,033,943

Current assets
  

Stocks
 13 
79,599
113,699

Debtors: amounts falling due after more than one year
 14 
-
9,444

Debtors: amounts falling due within one year
 14 
1,345,700
802,489

Cash at bank and in hand
 15 
1,020,675
17,910

  
2,445,974
943,542

Creditors: amounts falling due within one year
 16 
(2,728,298)
(8,523,828)

Net current liabilities
  
 
 
(282,324)
 
 
(7,580,286)

Total assets less current liabilities
  
21,439,183
17,453,657

Creditors: amounts falling due after more than one year
 17 
(13,154,575)
(9,388,859)

Net assets
  
8,284,608
8,064,798

Page 10

 
TEDSMORE HALL LIMITED
REGISTERED NUMBER: 06352914
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 19 
12,000,004
12,000,004

Profit and loss account
 20 
(3,715,396)
(3,935,206)

  
8,284,608
8,064,798


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Parker
Director

Date: 21 March 2025

The notes on pages 18 to 36 form part of these financial statements.

Page 11

 
TEDSMORE HALL LIMITED
REGISTERED NUMBER: 06352914

COMPANY BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
7,315,114
6,241,168

Investments
 12 
12,000,004
12,000,004

  
19,315,118
18,241,172

Current assets
  

Debtors: amounts falling due within one year
 14 
1,935,202
1,480,757

Cash at bank and in hand
 15 
1,000,692
16,533

  
2,935,894
1,497,290

Creditors: amounts falling due within one year
 16 
(1,174,812)
(5,118,211)

Net current assets/(liabilities)
  
 
 
1,761,082
 
 
(3,620,921)

Total assets less current liabilities
  
21,076,200
14,620,251

  

Creditors: amounts falling due after more than one year
 17 
(13,154,575)
(6,043,575)

  

Net assets
  
7,921,625
8,576,676

Page 12

 
TEDSMORE HALL LIMITED
REGISTERED NUMBER: 06352914
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£


Capital and reserves
  

Called up share capital 
 19 
12,000,004
12,000,004

Profit and loss account
 20 
(4,078,379)
(3,423,328)

  
7,921,625
8,576,676


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R Parker
Director

Date: 21 March 2025

The notes on pages 18 to 36 form part of these financial statements.

Page 13

 
TEDSMORE HALL LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£


At 1 April 2022
12,000,004
(4,644,860)
7,355,144
7,355,144


Comprehensive income for the year

Profit for the year
-
709,654
709,654
709,654
Total comprehensive income for the year
-
709,654
709,654
709,654



At 1 April 2023
12,000,004
(3,935,206)
8,064,798
8,064,798


Comprehensive income for the year

Profit for the year
-
219,810
219,810
219,810
Total comprehensive income for the year
-
219,810
219,810
219,810


At 31 March 2024
12,000,004
(3,715,396)
8,284,608
8,284,608


The notes on pages 18 to 36 form part of these financial statements.

Page 14

 
TEDSMORE HALL LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
12,000,004
(3,142,252)
8,857,752


Comprehensive income for the year

Loss for the year
-
(281,076)
(281,076)
Total comprehensive income for the year
-
(281,076)
(281,076)



At 1 April 2023
12,000,004
(3,423,328)
8,576,676


Comprehensive income for the year

Loss for the year
-
(655,051)
(655,051)
Total comprehensive income for the year
-
(655,051)
(655,051)


At 31 March 2024
12,000,004
(4,078,379)
7,921,625


The notes on pages 18 to 36 form part of these financial statements.

Page 15

 
TEDSMORE HALL LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
219,810
709,654

Adjustments for:

Amortisation of intangible assets
-
33,333

Depreciation of tangible assets
133,213
153,953

Loss on disposal of tangible assets
(49,380)
(1,744,110)

Interest paid
680,105
703,108

Interest received
(15,983)
-

Decrease in stocks
34,100
7,115

(Increase) in debtors
(533,767)
(108,455)

(Decrease)/increase in creditors
(1,371,950)
403,650

Loss on disposal of intangible assets
-
108,334

Net cash generated from operating activities

(903,852)
266,582


Cash flows from investing activities

Purchase of tangible fixed assets
(1,162,490)
(1,675,613)

Sale of tangible fixed assets
4,391,093
6,851,752

Interest received
15,983
-

HP interest paid
(3,943)
-

Net cash from investing activities

3,240,643
5,176,139
Page 16

 
TEDSMORE HALL LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024


2024
2023

£
£



Cash flows from financing activities

New secured loans
7,111,000
-

Repayment of loans
(7,089,955)
(4,417,296)

Repayment of/new finance leases
-
(363)

Interest paid
(676,162)
(703,108)

Net cash used in financing activities
(655,117)
(5,120,767)

Net increase in cash and cash equivalents
1,681,674
321,954

Cash and cash equivalents at beginning of year
(990,261)
(1,312,215)

Cash and cash equivalents at the end of year
691,413
(990,261)


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,020,675
17,910

Bank overdrafts
(329,262)
(1,008,171)

691,413
(990,261)


Page 17

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Tedsmore Hall Limited is a private company, limited by shares and incorporated and domiciled in England. The address of the registered office and principal place of business is Tedsmore Hall, Tedsmore, West Felton, Oswestry, Shropshire, SY11 4HD.
The principal activity of the Group is that of a chain of hotels.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2015.

Page 18

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.3

Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
-  the requirements of Section 7 Statement of Cash Flows;
-  the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
-  the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements.

  
2.4

Going concern

The Group has significant net assets at the year end of £8,284,608 (2023: £8,064,798). Net current liabilities of £282,324 (2023: £7,580,286) represent a normal trading position for the Group considering the nature of the trade and working capital profile, significantly down on that reported in 2023 further to the disposal of a hotel and refinance. 
Subsequent to the year end in November 2024 the Company’s subsidiary sold a hotel for consideration of £3.6m. These sale proceeds repaid some of the long term external bank debt, some of the group creditors leaving cash of £1m available to fund working capital needs during the remaining Winter period and also for other projects into the future. 
The directors are satisfied that, with this further significant transaction, and the reduction in overheads resulting, that the Company and indeed the Group can continue to meet liabilities as they fall due for the foreseeable future. 
Based on the current post year end trading conditions and visibility of future bookings the directors are confident that the Company and Group will trade positively over the next 12 months, and in any event that the current cash holding will allow the service of the new interest only facility for at least the next 12 months. 
Based on the above factors the directors consider that there are no material uncertainties in relation to the Company's and the Group's ability to meet their liabilities as they fall due for the foreseeable future. The accounts have accordingly been prepared on a going concern basis

Page 19

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss 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.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 20

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

  
2.11

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated statement of comprehensive income over its useful economic life which is deemed to be 10 years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
20% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10-25% reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold property is not depreciated on the grounds that its residual value will at least be equal to the carrying value in the financial statements.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 21

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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

Page 22

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.17

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.

 
2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted
Page 23

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 24

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, be definition, seldom equal the related actual results.  In the opinion of the directors the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below: 
Freehold Property Carrying Value
Freehold Property is carried at cost less accumulated impairment with annual impairment reviews performed. 
Management consider whether impairment indicators are present at the balance sheet date and perform an impairment review if necessary. At the reporting date Freehold Property has a net book value of £21,169,503 (2023: £24,357,177).


4.


Turnover

The whole of the turnover is attributable to the principal activity of the Group.

All turnover arose within the United Kingdom.

Page 25

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Group's auditors and its associates for the audit of the Group's financial statements
18,800
18,400


6.


Employees

Staff costs were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
4,398,916
5,254,224
44,047
48,876

Social security costs
268,184
348,217
2,994
2,401

Cost of defined contribution scheme
63,913
77,807
-
-

4,731,013
5,680,248
47,041
51,277


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









238
281
5
6


7.


Interest receivable

2024
2023
£
£


Other interest receivable
15,983
-

15,983
-

Page 26

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
619,536
682,244

Finance leases and hire purchase contracts
3,943
-

Other interest payable
56,626
20,864

680,105
703,108

Page 27

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Taxation


2024
2023
£
£



Total current tax
-
-

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
219,810
709,654


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
54,953
134,834

Effects of:


Non-tax deductible amortisation of goodwill and impairment
-
6,333

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
605
(163)

Capital allowances for year in excess of depreciation
3,055
16,122

Changes in provisions leading to an increase (decrease) in the tax charge
(1,046)
-

Unrelieved tax losses carried forward
81,274
33,277

Utilisation of tax losses
(126,496)
(190,403)

Other differences leading to an increase (decrease) in the tax charge
(12,345)
-

Total tax charge for the year
-
-


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


10.


Exceptional items

2024
2023
£
£


(Profit)/Loss on disposal of freehold land and buildings
(1,672,048)
(1,635,776)

(1,672,048)
(1,635,776)

Page 28

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
24,902,019
96,104
51,349
2,961,742
28,011,214


Additions
1,127,432
21,407
-
13,651
1,162,490


Disposals
(4,315,106)
(29,616)
-
(24,902)
(4,369,624)



At 31 March 2024

21,714,345
87,895
51,349
2,950,491
24,804,080



Depreciation


At 1 April 2023
544,842
23,042
23,098
2,386,289
2,977,271


Charge for the year on owned assets
-
19,478
-
113,735
133,213


Disposals
-
(7,344)
-
(20,567)
(27,911)



At 31 March 2024

544,842
35,176
23,098
2,479,457
3,082,573



Net book value



At 31 March 2024
21,169,503
52,719
28,251
471,034
21,721,507



At 31 March 2023
24,357,177
73,062
28,251
575,453
25,033,943

Page 29

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           11.Tangible fixed assets (continued)


Company






Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£

Cost or valuation


At 1 April 2023
6,211,529
29,069
107,101
6,347,699


Additions
1,073,946
-
-
1,073,946



At 31 March 2024

7,285,475
29,069
107,101
7,421,645



Depreciation


At 1 April 2023
-
6,509
100,022
106,531



At 31 March 2024

-
6,509
100,022
106,531



Net book value



At 31 March 2024
7,285,475
22,560
7,079
7,315,114



At 31 March 2023
6,211,529
22,560
7,079
6,241,168






Page 30

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
12,000,004



At 31 March 2024
12,000,004





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Guyzance Hall Limited
Ordinary
100%
RPC Hotels Limited
Ordinary
100%


13.


Stocks

Group
Group
2024
2023
£
£

Finished goods and goods for resale
79,599
113,699

79,599
113,699


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 31

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Other debtors
-
9,444
-
-

-
9,444
-
-


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due within one year

Trade debtors
63,993
80,452
-
5,396

Amounts owed by group undertakings
-
-
930,378
983,731

Other debtors
1,174,562
597,887
990,421
478,369

Prepayments and accrued income
107,145
124,150
14,403
13,261

1,345,700
802,489
1,935,202
1,480,757



15.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,020,675
17,910
1,000,692
16,533

Less: bank overdrafts
(329,262)
(1,008,171)
(299,887)
-

691,413
(990,261)
700,805
16,533


Page 32

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

16.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
329,262
1,008,171
299,887
-

Bank loans
-
3,744,671
-
3,744,671

Payments received on account
423,486
1,196,158
-
-

Trade creditors
668,135
1,212,516
106,292
172,050

Amounts owed to group undertakings
-
-
242,153
804,671

Other taxation and social security
385,176
465,248
601
773

Other creditors
514,032
371,745
500,498
117,896

Accruals and deferred income
408,207
525,319
25,381
278,150

2,728,298
8,523,828
1,174,812
5,118,211



17.


Creditors: Amounts falling due after more than one year

Group

Group
Company

Company
2024
2023
2024
2023
£
£
£
£

Other loans
6,043,575
6,043,575
6,043,575
6,043,575

Bank loans
7,111,000
3,345,284
7,111,000
-

13,154,575
9,388,859
13,154,575
6,043,575


The bank loans and overdrafts are secured by a legal charge against the Company's freehold titles, as follows:
- A charge registered against The Tedsmore Hall Estate dated 25 October 2023.
Net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.
 
Page 33

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


18.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
-
3,744,671
-
3,744,671

Amounts falling due 1-2 years

Bank loans
-
3,345,284
-
-

Amounts falling due 2-5 years

Bank loans
7,111,000
-
7,111,000
-

Amounts falling due after more than 5 years

Other loans
6,043,575
6,043,575
6,043,575
6,043,575

13,154,575
13,133,530
13,154,575
9,788,246


The bank loan accrues interest at a rate of 1.88% over the base rate. The Company is required to make interest repayments on a monthly basis basis. The loan is due to be repaid in full 36 months from the draw down date
The bank loans and overdrafts are secured by a legal charge against the Company's freehold titles, as follows:
- A charge registered against the Tedsmore Hall Estate dated 25 October 2023.

Page 34

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

19.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



12,000,004 (2023 - 12,000,004) Ordinary shares of £1.00 each
12,000,004
12,000,004



20.


Reserves

Profit and loss account

The profit and loss account comprises the cumulative retained earnings of the company since incorporation.

21.


Analysis of net debt




At 1 April 2023
Cash flows
At 31 March 2024
£

£

£

Cash at bank and in hand

17,910

1,002,765

1,020,675

Bank overdrafts

(1,008,171)

678,909

(329,262)

Debt due after 1 year

(9,388,859)

(3,765,716)

(13,154,575)

Debt due within 1 year

(3,744,671)

3,744,671

-


(14,123,791)
1,660,629
(12,463,162)


22.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £63,913 (2023: £77,807). Contributions totalling £14,467 (2023: £15,430) were payable to the fund at the balance sheet date and are included in creditors.


23.Directors' personal guarantees

At the year end a personal guarantee in respect of a loan held within liabilities due in more than 1 year totalling £7,111.000 (2023: £Nil) was held by R Parker.

Page 35

 
TEDSMORE HALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

24.


Related party transactions

The company has taken the exemption available under FRS 102 to not disclose related party transactions with other 100% wholly owned group companies. 
Included within creditors falling due after more than one year is a loan from RP346 Limited of £6,043,575 (2023: £6,043,575), a company under the control of R Parker and G Parker. There was no interest charged during the current or previous period.
Included within other debtors are balances owed by Director's totalling £733,920 (2023: £351,826). The loan was repaid in full on 21 March 2025.


25.


Post balance sheet events

During November 2024 the Group completed the sale of the property Eshott Hall. A portion of the sales proceeds have been utilised to repay the bank borrowings disclosed in note 18 of these financial statements. 
On 21 March 2025 the company completed a capital reduction from £12,000,0004 to £10,300,004 by cancelling and extinguishing 1,700,000 of the Ordinary B shares of £1 each.


26.


Controlling party

The Group is under the control of R Parker and G Parker by virtue of their respective holdings in the ordinary share capital of the Company.

 
Page 36