Company No: 09350436 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,430,951		2,512,711
		2,430,951		2,512,711
Current assets
Stocks		11,903		11,835
Debtors	4	51,184		53,546
Cash at bank and in hand		21,481		41,532
		84,568		106,913
Creditors: amounts falling due within one year	5	( 2,022,319)		( 1,864,759)
Net current liabilities		(1,937,751)		(1,757,846)
Total assets less current liabilities		493,200		754,865
Creditors: amounts falling due after more than one year	6	( 845,234)		( 879,515)
Net liabilities		( 352,034)		( 124,650)
Capital and reserves
Called-up share capital	7	200		200
Profit and loss account		( 352,234 )		( 124,850 )
Total shareholders' deficit		( 352,034)		( 124,650)

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of WT Hotels Ltd (registered number: 09350436) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

S Whitehouse Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

WT Hotels Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lanes Hotel, High Street, West Coker, BA22 9AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £352,034 and net current liabilities of £1,937,751. The Company is supported through loans from the directors and other parties. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The terms of the creditor loan of £1,348,311 require that repayments be made based on cash profits in the company, and so the company does not have the unconditional right to defer settlement for 12 months from the end of the reporting period. There is however no requirement for the company to settle the loan within 12 months from the reporting date if the company does not make sufficient cash profits in order to do so.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	3 - 10 years straight line
Fixtures and fittings	3 - 10 years straight line
Office equipment	3 years straight line
Computer equipment	3 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	38		40

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 November 2023	2,976,129		20,439		152,834		10,939		8,036		3,168,377
Additions	0		0		6,910		0		0		6,910
Disposals	0		( 306)		( 3,013)		0		0		( 3,319)
At 31 October 2024	2,976,129		20,133		156,731		10,939		8,036		3,171,968
Accumulated depreciation
At 01 November 2023	499,902		17,701		119,455		10,939		7,669		655,666
Charge for the financial year	57,523		1,034		29,788		0		283		88,628
Disposals	0		( 265)		( 3,012)		0		0		( 3,277)
At 31 October 2024	557,425		18,470		146,231		10,939		7,952		741,017
Net book value
At 31 October 2024	2,418,704		1,663		10,500		0		84		2,430,951
At 31 October 2023	2,476,227		2,738		33,379		0		367		2,512,711

4. Debtors

	2024		2023
	£		£
Trade debtors	20,726		8,851
Prepayments	21,796		24,424
Other debtors	8,662		20,271
	51,184		53,546

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	41,704		52,732
Amounts owed to directors	332,713		332,129
Other loans (secured £ 124,809)	1,128,357		1,104,997
Accruals and deferred income	456,192		326,847
Other taxation and social security	52,841		46,310
Other creditors	10,512		1,744
	2,022,319		1,864,759

Within other loans there is a loan of £124,809 (2023 - £116,477) secured by a fixed charge over the freehold property and containing a negative pledge.

£1,348,311 (2023 - £1,327,203) of the loan balance and amounts owed to directors above requires that loan repayments be made based on cash profits in the company, however these balances remain classified as due in less than one year as the company does not have the unconditional right to defer settlement for 12 months from the end of the reporting period. There is no expectation that the company will need to settle the loan within 12 months from the reporting date.

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Amounts owed to directors	845,234		879,515

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

8. Related party transactions

Transactions with the entity's directors

At the balance sheet date loans of £1,177,947 (2023 - £1,211,644) were owed to the directors by the company. Interest is accruing at 6% / 8% and the loans are included in creditors.