Company Registration No. 11351217 (England and Wales)
DOUBLE DUTCH HOTELS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 APRIL 2024
28 April 2024
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
DOUBLE DUTCH HOTELS LIMITED
COMPANY INFORMATION
Directors
Mr M Timmerman
Mr K Timmerman
Secretary
Ms J Leigh
Company number
11351217
Registered office
West Lancs Technology Management Centre
White Moss Business Park
Moss Lane View
Skelmersdale
England
WN8 9TN
Auditor
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
DOUBLE DUTCH HOTELS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 29
DOUBLE DUTCH HOTELS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 28 APRIL 2024
- 1 -

The directors present the strategic report for the year ended 28 April 2024.

Principal Activities and Business Review

The principal activity of the group continues to be the operation of two strategically positioned hotels in the Northwest of England; trading as Lancashire Manor Hotel and Barton Manor Hotel and Spa. The principal activity of the company is that of a holding company.

 

The financial year has realised revenues across both hotels increase by 2%. Accommodation rates are highly competitive in the year and both hotels have been successful at improving their average room rates over this year. Function business has proved challenging, average wedding size has reduced and the corporate market has declined in activity partly due to UK work practices.

 

During this year Barton Manor Hotel has enjoyed further investment in the existing core bedroom quality with 8 bedrooms being offline for 6 months impacting accommodation availability and ability to drive revenues.

 

This in year directly funded project relates to the development of the Club House facility. Investment has also been made in the meeting rooms and banqueting facilities which has enabled Barton Manor Hotel to attract new corporate clients and premiership football teams for the first time towards the end of this financial year.

 

The third area of investment has been in a new gym and spa facility consisting of three treatment rooms. The hotel has enjoyed new leisure members for the first time and the new spa operation is developing a customer base from both local residents and hotel guests. Commencing during this year, there is major development of this property which will deliver a doubling of bedroom numbers. This involves a new dedicated three-story bedroom extension and new glazed link facia to the property.

 

Energy cost inflation has impacted the cost base at both hotels, where as food and liquor inflation pressures have abated during this year and are now well controlled.

 

The director is pleased to report that at the time of signing these accounts the year-on-year sales growth trend shown in the attached results has continued into the current trading period.

 

Such is the director’s confidence in the nature of the offering in both properties that an increased investment plan has been implemented that has led not only to an improvement in the services provided but in an overall increase in both the number and quality of room stock for our guests to enjoy.

Principal risks and uncertainties

The director and management with the support of guests, customers, staff and suppliers have maintained the group’s solvent position such that it has the resources to trade effectively with profitable forecasts for the future supported by major development at Barton Manor Hotel and Spa

 

In order to provide long term energy cost security, long term contracts have been entered into in order to stabilise the costs to the business.

 

Future cost pressures of wage enhancements and employer’s national insurance will impact the whole of the hotel and hospitality sector of the UK. Double Dutch Hotels Ltd. will mitigate this aspect of cost pressures though labour hour controls, investment in IT and operational systems and customer price reviews.

 

Long serving director Mr. Klaas Timmerman passed away during the year. Co-director Mr. Mark Timmerman has taken on his remit, with effective support from two highly experienced hotel general managers. A more settled management team has proved beneficial at Barton Manor Hotel.

Ms. Julie Leigh has been introduced to the company as Finance Director and has been appointed at company secretary during the year. Mr. James Treadwell (non-executive director) has provided quality support and financial advice of this transitional period.

DOUBLE DUTCH HOTELS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 2 -
Future Developments

Following a successful second tender of the development plans at Barton Manor Hotel and Spa, Triton Construction were appointed to commence the major phase one development within planning permission terms. The director and company secretary are delighted to report that during the year, this major project has progressed well, with a completion date planned for March 2025. Funding for this investment has been secured through the company’s bank, NatWest, which included the subordination of the company’s loan to Carpenter Hepton Ltd.

 

Designs and planning permission has also been secured for a new ten bedroom two storey extension at Lancashire Manor Hotel. It is planned to carry out a costing and return of investment assessment prior to tendering these works.

 

The assets shown in the attached results suffered no reduction in the values stated in the Balance Sheet. The director concludes that the attached accounts represent a true and fair view of the company’s financial position as represented by the Balance Sheet as at the accounts date and that the asset values have not been impaired.

Key Performance Indicators

The individual businesses continue to report on a regular business indicators such as occupancy percentage, room / ​sleeper rates, food liquor and labour cost margins to revenues as well as the standard reports such as sales, costs and contribution.

 

In the ongoing scenario of significant investment at Barton Manor Hotel and potential investment at Lancashire Manor Hotel, the asset base continues to grow faster than the revenues generated from those assets even when they have been completed and brought into use. There are asset investments that have yet to be completed and yet monies are still being expended. All of this serves to increase the asset base upon which depreciation is charged. The accounting standards dictate that the director does have to account for depreciation even where the asset is actually appreciating in value in circumstances where we are seeing increased revenues from that asset.

 

The director, company secretary and management team recognise that the most important “key performance indicator” is the growth in shareholder’s funds generated from year-on-year profitability however for this group of businesses where there is significant investment being undertaken for future growth the director is proposing that losses can be acceptable within balance sheet tolerances.

 

The director can also confirm that up to the date of signing the group has continued to trade with positive contributions.

Results and Dividends

The group’s growth in sales has given the director the confidence to continue to invest in the properties in order to continue to grow the sales and, in time, the profitability of the group and its activities.

 

The company’s director has not declared a dividend for this year having noted the reduction in shareholder’s funds as a result of the trading loss this financial year.

On behalf of the board

Mr M Timmerman
Director
17 February 2025
DOUBLE DUTCH HOTELS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 APRIL 2024
- 3 -

The directors present their annual report and financial statements for the year ended 28 April 2024.

Principal activities

The principal activity of the company and group continued to be the operation of two strategically positioned hotels in England's North West. The principal activity of the company is that of a holding company.

Results and dividends

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M Timmerman
Mr K Timmerman
Auditor

The auditor, PM+M Solutions for Business LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

DOUBLE DUTCH HOTELS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 4 -
On behalf of the board
Mr M Timmerman
Director
17 February 2025
DOUBLE DUTCH HOTELS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DOUBLE DUTCH HOTELS LIMITED
- 5 -
Opinion

We have audited the financial statements of Double Dutch Hotels Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 April 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

DOUBLE DUTCH HOTELS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DOUBLE DUTCH HOTELS LIMITED
- 6 -
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 their environment obtained in the course of the audit, we have not identified material misstatements in the 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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 financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud

 

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.

 

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

DOUBLE DUTCH HOTELS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DOUBLE DUTCH HOTELS LIMITED
- 7 -

Identifying and assessing potential risks related to irregularities

 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

 

 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Group's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

 

We also obtained an understanding of the legal and regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

DOUBLE DUTCH HOTELS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DOUBLE DUTCH HOTELS LIMITED
- 8 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's 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.

Christopher Johnson FCA (Senior Statutory Auditor)
For and on behalf of PM+M Solutions for Business LLP
17 February 2025
Chartered Accountants
Statutory Auditor
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
DOUBLE DUTCH HOTELS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 APRIL 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
5,406,904
5,300,345
Distribution costs
(4,440,032)
(4,061,609)
Administrative expenses
(1,035,499)
(1,019,534)
Other operating income
80,000
12,600
Operating profit
4
11,373
231,802
Interest payable and similar expenses
6
(361,651)
(193,011)
Exceptional Items
7
(324,981)
(192,598)
Loss before taxation
(675,259)
(153,807)
Tax on loss
8
(2,377)
(94,447)
Loss for the financial year
(677,636)
(248,254)
Loss for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
DOUBLE DUTCH HOTELS LIMITED
GROUP BALANCE SHEET
AS AT
28 APRIL 2024
28 April 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
9
1,247,389
1,484,987
Tangible assets
10
8,323,623
7,881,853
Investment property
11
205,000
205,000
9,776,012
9,571,840
Current assets
Stocks
14
43,149
33,190
Debtors
15
379,416
374,629
Cash at bank and in hand
157,820
170,469
580,385
578,288
Creditors: amounts falling due within one year
16
(2,316,575)
(1,636,554)
Net current liabilities
(1,736,190)
(1,058,266)
Total assets less current liabilities
8,039,822
8,513,574
Creditors: amounts falling due after more than one year
17
(5,733,904)
(5,532,397)
Provisions for liabilities
Deferred tax liability
19
149,182
146,805
(149,182)
(146,805)
Net assets
2,156,736
2,834,372
Capital and reserves
Called up share capital
22
1,000,000
1,000,000
Profit and loss reserves
1,156,736
1,834,372
Total equity
2,156,736
2,834,372

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
17 February 2025
Mr M Timmerman
Director
Company registration number 11351217 (England and Wales)
DOUBLE DUTCH HOTELS LIMITED
COMPANY BALANCE SHEET
AS AT 28 APRIL 2024
28 April 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
8,170,295
7,704,335
Investment property
11
205,000
205,000
Investments
12
3,200,000
3,200,000
11,575,295
11,109,335
Current assets
Debtors
15
84,814
34,000
Cash at bank and in hand
-
0
1,920
84,814
35,920
Creditors: amounts falling due within one year
16
(2,722,504)
(2,006,449)
Net current liabilities
(2,637,690)
(1,970,529)
Total assets less current liabilities
8,937,605
9,138,806
Creditors: amounts falling due after more than one year
17
(5,655,932)
(5,410,946)
Provisions for liabilities
Deferred tax liability
19
117,638
109,826
(117,638)
(109,826)
Net assets
3,164,035
3,618,034
Capital and reserves
Called up share capital
22
1,000,000
1,000,000
Profit and loss reserves
2,164,035
2,618,034
Total equity
3,164,035
3,618,034

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £453,999 (2023 - £313,487 loss).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
17 February 2025
Mr M Timmerman
Director
Company registration number 11351217 (England and Wales)
DOUBLE DUTCH HOTELS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 APRIL 2024
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 29 April 2022
1,000,000
2,082,626
3,082,626
Year ended 28 April 2023:
Loss and total comprehensive income
-
(248,254)
(248,254)
Balance at 28 April 2023
1,000,000
1,834,372
2,834,372
Year ended 28 April 2024:
Loss and total comprehensive income
-
(677,636)
(677,636)
Balance at 28 April 2024
1,000,000
1,156,736
2,156,736
DOUBLE DUTCH HOTELS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 APRIL 2024
- 13 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 29 April 2022
1,000,000
2,931,521
3,931,521
Year ended 28 April 2023:
Loss and total comprehensive income for the year
-
(313,487)
(313,487)
Balance at 28 April 2023
1,000,000
2,618,034
3,618,034
Year ended 28 April 2024:
Profit and total comprehensive income
-
(453,999)
(453,999)
Balance at 28 April 2024
1,000,000
2,164,035
3,164,035
DOUBLE DUTCH HOTELS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 APRIL 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
1,082,599
661,692
Interest paid
(361,651)
(193,011)
Income taxes paid
(29,313)
-
0
Net cash inflow from operating activities
691,635
468,681
Investing activities
Purchase of tangible fixed assets
(1,006,162)
(604,867)
Proceeds from disposal of tangible fixed assets
44,599
17,331
Net cash used in investing activities
(961,563)
(587,536)
Financing activities
Proceeds from borrowings
534,712
342,712
Repayment of borrowings
(99,409)
(2,325,000)
Proceeds from new bank loans
-
2,000,000
Repayment of bank loans
(201,187)
(242,824)
Net cash generated from/(used in) financing activities
234,116
(225,112)
Net decrease in cash and cash equivalents
(35,812)
(343,967)
Cash and cash equivalents at beginning of year
170,469
514,436
Cash and cash equivalents at end of year
134,657
170,469
Relating to:
Cash at bank and in hand
157,820
170,469
Bank overdrafts included in creditors payable within one year
(23,163)
-
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 APRIL 2024
- 15 -
1
Accounting policies
Company information

Double Dutch Hotels Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is West Lancs Technology Management Centre, White Moss Business Park, Moss Lane View, Skelmersdale, England, WN8 9TN.

 

The group consists of Double Dutch Hotels Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Double Dutch Hotels Limited together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 28 April 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 16 -
1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

In December 2024 the company secured an additional overdraft facility and funding from the bank to ensure there is sufficient financial headroom for day to day operations and the extensive development that is currently ongoing at Barton Manor Hotel & Spa Hotel.

1.5
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. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product or service, have been transferred to the customer, which at the point the room is occupied.

 

Deposits received in respect of Wedding and Conference bookings are recognised at the point when the rooms are occupied for the event.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.7
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0-2% straight line
Plant and equipment
10% straight line
Fixtures and fittings
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.8
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

1.9
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 17 -

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.11
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

1.12
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 current liabilities.

1.13
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Classification of financial liabilities

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 group after deducting all of its liabilities.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 18 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.15
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.16
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

1.17
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 19 -
1.18
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The main areas of judgement that have a risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year, are in relation to debtor provisions and useful economic lives of the company's fixed assets.

3
Turnover

All turnover arose from the United Kingdom and from the operation of hotels.

2024
2023
£
£
Turnover analysed by class of business
Sale of food
2,677,087
2,724,077
Sale of rooms
2,549,050
2,516,658
Other
39,271
59,610
Sale of spa services
141,496
-
5,406,904
5,300,345
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Fees payable to the group's auditor for the audit of the group's financial statements
18,000
15,750
Depreciation of owned tangible fixed assets
519,793
428,267
Amortisation of intangible assets
237,598
237,598
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 20 -
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
150
147
2
2

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
1,963,749
1,785,150
-
0
-
0
Social security costs
133,177
120,440
-
0
-
0
Pension costs
37,039
36,079
-
0
-
0
2,133,965
1,941,669
-
0
-
0
6
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
361,651
193,011
7
Exceptional items
2024
2023
£
£
Changes in the fair value of investment properties
-
45,000
Amortisation of goodwill
(237,598)
(237,598)
Redundancy costs
(49,170)
-
Exceptional items
(38,213)
-
(324,981)
(192,598)
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
18,502
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
8
Taxation
2024
2023
£
£
(Continued)
- 21 -
Deferred tax
Origination and reversal of timing differences
2,377
75,945
Total tax charge
2,377
94,447

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Loss before taxation
(675,259)
(153,807)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.46%)
(168,815)
(29,931)
Tax effect of expenses that are not deductible in determining taxable profit
75,098
46,578
Effect of change in corporation tax rate
-
16,828
Permanent capital allowances in excess of depreciation
96,094
61,148
Marginal relief
-
0
(176)
Taxation charge
2,377
94,447
9
Intangible fixed assets
Group
Goodwill
£
Cost
At 29 April 2023 and 28 April 2024
2,375,979
Amortisation and impairment
At 29 April 2023
890,992
Amortisation charged for the year
237,598
At 28 April 2024
1,128,590
Carrying amount
At 28 April 2024
1,247,389
At 28 April 2023
1,484,987
The company had no intangible fixed assets at 28 April 2024 or 28 April 2023.
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 22 -
10
Tangible fixed assets
Group
Freehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 29 April 2023
6,020,675
999,342
1,233,188
1,115,794
9,368,999
Additions
-
0
970,036
32,106
4,020
1,006,162
Disposals
-
0
(44,599)
-
0
-
0
(44,599)
Transfers
380,000
(992,079)
252,728
359,351
-
0
At 28 April 2024
6,400,675
932,700
1,518,022
1,479,165
10,330,562
Depreciation and impairment
At 29 April 2023
320,400
-
0
582,034
584,712
1,487,146
Depreciation charged in the year
108,314
-
0
195,361
216,118
519,793
At 28 April 2024
428,714
-
0
777,395
800,830
2,006,939
Carrying amount
At 28 April 2024
5,971,961
932,700
740,627
678,335
8,323,623
At 28 April 2023
5,700,275
999,342
651,154
531,082
7,881,853
Company
Freehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 29 April 2023
6,020,675
954,743
1,074,380
1,037,751
9,087,549
Additions
-
0
970,036
-
0
-
0
970,036
Transfers
380,000
(992,079)
252,728
359,351
-
0
At 28 April 2024
6,400,675
932,700
1,327,108
1,397,102
10,057,585
Depreciation and impairment
At 29 April 2023
320,400
-
0
519,634
543,180
1,383,214
Depreciation charged in the year
108,314
-
0
179,644
216,118
504,076
At 28 April 2024
428,714
-
0
699,278
759,298
1,887,290
Carrying amount
At 28 April 2024
5,971,961
932,700
627,830
637,804
8,170,295
At 28 April 2023
5,700,275
954,743
554,746
494,571
7,704,335
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 23 -
11
Investment property
Group
Company
2024
2024
£
£
Fair value
At 29 April 2023 and 28 April 2024
205,000
205,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28 April 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
3,200,000
3,200,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 29 April 2023 and 28 April 2024
3,200,000
Carrying amount
At 28 April 2024
3,200,000
At 28 April 2023
3,200,000
13
Subsidiaries

Details of the company's subsidiaries at 28 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Lancashire Manor Hotel Limited
The Lancashire Manor Hotel, Prescott Road Pimbo, Wigan, Lancashire, WN8 9QD
Ordinary
100.00
Barton Manor Hotel & Spa Ltd
West Lancs Technology Management Centre White Moss Business Park, Skelmersdale, WN8 9TN
Ordinary
100.00
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
43,149
33,190
-
0
-
0
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 24 -
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
96,927
144,417
-
0
-
0
Other debtors
124,438
59,115
66,814
-
0
Prepayments and accrued income
158,051
171,097
18,000
34,000
379,416
374,629
84,814
34,000
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
497,838
442,066
454,437
402,264
Other borrowings
18
-
0
-
0
679,669
604,981
Trade creditors
353,763
429,866
-
0
4,492
Amounts owed to group undertakings
-
0
-
0
1,181,969
978,539
Corporation tax payable
20,119
49,432
2,407
9,927
Other taxation and social security
499,779
98,005
-
2,244
Deferred income
20
-
0
22,148
-
0
-
0
Other creditors
484,257
420,728
59,797
-
0
Accruals and deferred income
460,819
174,309
344,225
4,002
2,316,575
1,636,554
2,722,504
2,006,449
17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
3,213,544
3,447,340
3,135,572
3,325,889
Other borrowings
18
2,520,360
2,085,057
2,520,360
2,085,057
5,733,904
5,532,397
5,655,932
5,410,946
Amounts included above which fall due after five years are as follows:
Payable by instalments
1,410,477
1,998,174
1,410,477
1,998,174
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 25 -
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
3,688,219
3,889,406
3,566,846
3,728,153
Bank overdrafts
23,163
-
0
23,163
-
0
Loans from group undertakings
-
0
-
0
679,669
604,981
Loans from related parties
2,430,360
1,995,057
2,430,360
1,995,057
Other loans
90,000
90,000
90,000
90,000
6,231,742
5,974,463
6,790,038
6,418,191
Payable within one year
497,838
442,066
1,134,106
1,007,245
Payable after one year
5,733,904
5,532,397
5,655,932
5,410,946

The long-term loans are secured by fixed and floating charges over the fixed assets of the group.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
18
Loans and overdrafts
(Continued)
- 26 -

Bank loans

 

In June 2020 a loan facility was arranged, and the company received a loan of £1,000,000. The bank loan is subject to interest at 3.9% over base rate. The loan is repayable in full 82 months after draw down. At year end the amount outstanding was £728,312. Equal monthly repayments are due on the loan.

 

In June 2020 a loan facility was arranged, and the company received a loan of £1,400,000. The bank loan is subject to interest at 4.3% over base rate. The loan is repayable in full 82 months after draw down. At year end the amount outstanding was £946,914. Equal monthly repayments are due on the loan.

 

In 2020 a CBILLS loan facility was arranged, and the group received a loan of £250,000. The bank loan is subject to interest of 1.69% over base rate, for the first 12 months the annual interest applicable is interest free. At year end the amount outstanding was £121,373. Equal monthly repayments are due on the loan.

 

In August 2022 a loan facility was arranged, and the company received a loan of £2,000,000. The bank loan is subject to interest at 2.35% over base rate. The loan is repayable in full 240 months after draw down. At the year end the amount outstanding is £1,891,620. Equal monthly repayments are due on the loan.

 

The bank loans are secured by all assets of the group, as well as assets of related group Mellors Consolidated Limited.

 

Loans from group undertakings

 

In the company there is a loan due to a subsidiary. The loan is not subject to any formal agreement and is interest free. At the year end the amount outstanding was £679,669.

 

Loans from related parties

 

In 2022 the company received a loan of £1,000,000 from a related party, by virtue of common shareholders. The loan is subject to interest at 3% above base rate with no fixed repayment date on the capital element, the interest is repayable as it is charged. It has been confirmed the full loan will not be repayable for at least the next 12 months. At the year end the amount outstanding was £1,000,000.

 

During the year the company took additional loans with related parties of £454,712, the additional loans are subject to the same terms as existing loans. During the year the company repaid £19,410 to another related party, by virtue of common shareholders. At the year end the remaining loan with the related party was £1,430,360. The loan is not subject to any formal agreement and is interest free. It has been confirmed by the directors of the related party that the loan will not be recalled within 12 months of the year end.

 

 

 

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 27 -
19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
200,358
136,445
Tax losses
(61,636)
-
Investment property
11,250
11,250
Short term timing differences
(790)
(890)
149,182
146,805
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
168,024
98,576
Tax losses
(61,636)
-
Investment property
11,250
11,250
117,638
109,826
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 29 April 2023
146,805
109,826
Charge to profit or loss
2,377
7,812
Liability at 28 April 2024
149,182
117,638

The deferred tax liability set out above is expected to reverse over the life of the fixed assets within the group and relates to accelerated capital allowances that are expected to mature within the same period.

20
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
-
22,148
-
-
DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 28 -
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
37,039
36,079

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

 

The balance outstanding at year end amounted to £7,173 (2023 - £5,358)

22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
490,000
490,000
490,000
490,000
Ordinary B of £1 each
510,000
510,000
510,000
510,000
1,000,000
1,000,000
1,000,000
1,000,000
23
Events after the reporting date

Following the end of the reporting period, the company has engaged in a significant new construction project at the Barton Manor Hotel & Spa. The total costs that have been agreed for a final sum of £5,500,000. There is currently no formal agreement on the total costs of the project.

Following the end of the reporting period in December 2024, the company secured an additional banking facility for £5,000,000. This loan was obtained to support the company’s ongoing expansion and operational activities. The terms of the loan include an interest rate of 2.15% over Base Rate and a repayment period of 22 years. The loan is expected to enhance the company’s liquidity position and provide the necessary capital for strategic investments.

24
Related party transactions

During the year, the company incurred management charges of £nil (2023 - £80,000) from related party Mellors Catering Services due to common shareholders.

 

During the year, related parties other than directors received pension contributions of £42,326 (2023 - £57,901).

25
Controlling party

The ultimate controlling party are the directors, who controlled the whole of the company's issued ordinary share capital throughout the year.

DOUBLE DUTCH HOTELS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 APRIL 2024
- 29 -
26
Cash generated from group operations
2024
2023
£
£
Loss for the year after tax
(677,636)
(248,254)
Adjustments for:
Taxation charged
2,377
94,447
Finance costs
361,651
193,011
Fair value gain on investment properties
-
0
(45,000)
Amortisation and impairment of intangible assets
237,598
237,598
Depreciation and impairment of tangible fixed assets
519,793
428,267
Other gains and losses
87,383
237,598
Movements in working capital:
(Increase)/decrease in stocks
(9,959)
3,546
Increase in debtors
(4,787)
(32,234)
Increase in creditors
675,710
8,163
(Decrease)/increase in deferred income
(22,148)
22,148
Cash generated from operations
1,169,982
899,290
27
Analysis of changes in net debt - group
29 April 2023
Cash flows
28 April 2024
£
£
£
Cash at bank and in hand
170,469
(12,649)
157,820
Bank overdrafts
-
0
(23,163)
(23,163)
170,469
(35,812)
134,657
Borrowings excluding overdrafts
(5,974,463)
(234,116)
(6,208,579)
(5,803,994)
(269,928)
(6,073,922)
2024-04-282023-04-29falsefalseCCH SoftwareCCH Accounts Production 2025.100Mr M TimmermanMr K TimmermanMs J 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