Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false6564truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12089277 2023-04-01 2024-03-31 12089277 2022-04-01 2023-03-31 12089277 2024-03-31 12089277 2023-03-31 12089277 c:Director3 2023-04-01 2024-03-31 12089277 d:Buildings 2023-04-01 2024-03-31 12089277 d:Buildings 2024-03-31 12089277 d:Buildings 2023-03-31 12089277 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:PlantMachinery 2023-04-01 2024-03-31 12089277 d:PlantMachinery 2024-03-31 12089277 d:PlantMachinery 2023-03-31 12089277 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:MotorVehicles 2023-04-01 2024-03-31 12089277 d:MotorVehicles 2024-03-31 12089277 d:MotorVehicles 2023-03-31 12089277 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:FurnitureFittings 2023-04-01 2024-03-31 12089277 d:FurnitureFittings 2024-03-31 12089277 d:FurnitureFittings 2023-03-31 12089277 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:OfficeEquipment 2023-04-01 2024-03-31 12089277 d:OfficeEquipment 2024-03-31 12089277 d:OfficeEquipment 2023-03-31 12089277 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12089277 d:OtherPropertyPlantEquipment 2024-03-31 12089277 d:OtherPropertyPlantEquipment 2023-03-31 12089277 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12089277 d:CurrentFinancialInstruments 2024-03-31 12089277 d:CurrentFinancialInstruments 2023-03-31 12089277 d:Non-currentFinancialInstruments 2024-03-31 12089277 d:Non-currentFinancialInstruments 2023-03-31 12089277 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12089277 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12089277 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12089277 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12089277 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 12089277 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 12089277 d:ShareCapital 2024-03-31 12089277 d:ShareCapital 2023-03-31 12089277 d:RetainedEarningsAccumulatedLosses 2024-03-31 12089277 d:RetainedEarningsAccumulatedLosses 2023-03-31 12089277 c:FRS102 2023-04-01 2024-03-31 12089277 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12089277 c:FullAccounts 2023-04-01 2024-03-31 12089277 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12089277 2 2023-04-01 2024-03-31 12089277 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 12089277









PALÉ HALL LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PALÉ HALL LIMITED
REGISTERED NUMBER: 12089277

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,800,001
5,556,882

  
3,800,001
5,556,882

Current assets
  

Stocks
 5 
84,692
90,559

Debtors: amounts falling due within one year
 6 
636,369
551,698

  
721,061
642,257

Creditors: amounts falling due within one year
 7 
(2,287,350)
(713,618)

Net current liabilities
  
 
 
(1,566,289)
 
 
(71,361)

Total assets less current liabilities
  
2,233,712
5,485,521

Creditors: amounts falling due after more than one year
  
-
(1,380,825)

  

Net assets
  
2,233,712
4,104,696


Capital and reserves
  

Called up share capital 
  
5,500,008
5,500,008

Profit and loss account
  
(3,266,296)
(1,395,312)

  
2,233,712
4,104,696


Page 1

 
PALÉ HALL LIMITED
REGISTERED NUMBER: 12089277

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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






................................................
Mr A Barney
Director

Date: 28 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Palé Hall Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 213 Cromford Road, Langley Mill, Nottinghamshire, United Kingdom, NG16 4EU. The principal place of business is Palé Estate, Llandderfel, Bala, Gwynedd, LL23 7PS.
The principal activity of the Company continued to be that of operating a hotel.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the going concern basis in preparing these financial statements. The company is reliant upon continued support from the Group for a period of not less than twelve months from the date of approving these financial statements.
Accordingly the directors consider it appropriate to prepare the financial statements on the going concern basis and no adjustments have been made should the company not be able to continue as a
going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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:

Revenue from accomodation
Accomodation income is recognised on an accruals basis over the period of a guest's visit. 
Resturant income
Income from the restaurant is recognised on a cash basis based on daily resturant takings.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

Exceptional items

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

Page 4

 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10% reducing balance
Office equipment
-
25% reducing balance
Other fixed assets
-
10% 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.

No depreciation has been provided on freehold property as the property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result the corresponding depreciation would not be material, therefore is not charged to the profit and loss account.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs.

 
2.13

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.

 
2.14

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.

Page 5

 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings


3.


Employees

The average monthly number of employees, including directors, during the year was 65 (2023 - 64).

Page 6
 


 
PALÉ HALL LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


4.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 April 2023
4,865,384
427,855
2,000
477,661
2,040
23,684
5,798,624



At 31 March 2024

4,865,384
427,855
2,000
477,661
2,040
23,684
5,798,624



Depreciation


At 1 April 2023
-
111,399
1,156
125,927
892
2,368
241,742


Charge for the year on owned assets
-
31,646
211
35,173
287
2,132
69,449


Impairment charge
1,687,432
-
-
-
-
-
1,687,432



At 31 March 2024

1,687,432
143,045
1,367
161,100
1,179
4,500
1,998,623



Net book value



At 31 March 2024
3,177,952
284,810
633
316,561
861
19,184
3,800,001



At 31 March 2023
4,865,384
316,456
844
351,734
1,148
21,316
5,556,882

Page 7
 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Stock
84,692
90,559



6.


Debtors

2024
2023
£
£


Other debtors
460,429
407,172

Prepayments
10,587
12,050

Tax recoverable
165,353
132,476

636,369
551,698



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
370,116
135,001

Bank loans
1,315,145
-

Trade creditors
90,769
102,267

Corporation tax
-
62,632

Other taxation and social security
290,749
184,909

Other creditors
200,405
207,164

Accruals
20,166
21,645

2,287,350
713,618



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
1,380,825


Page 8

 
PALÉ HALL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
1,315,145
-

Amounts falling due 1-2 years

Bank loans
-
1,380,825

1,315,145
1,380,825


Bank loans of £1,295,000 are secured on the assets to which they relate.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,500,008 (2023 - 5,500,008) Ordinary Shares shares of £1.00 each
5,500,008
5,500,008



11.


Pension commitments

The Company operates a defined contributions 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 £30,794 (2023 - £35,602). Contributions totalling £6,582 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

During the year, the Company continued to operate a loan with the Directors. The balance owed by the Directors at the year end was £460,429 (2023 - £407,172), the balance is repayable on demand and is shown within other debtors.


13.


Controlling party

The controlling parties were Mr A Harper and Mrs A Harper by virtue of their joint shareholding in the Company until 3 April 2024 when the Company was purchased by Baslow Holdings Developments Limited. 
The ultimate controlling parties from 3 April 2024 are Mr A Barney and Mrs D Barney by virtue of their joint shareholding in Barney Group 1 Ltd, the ultimate Parent.


Page 9