Silverfin false false 31/03/2024 01/04/2023 31/03/2024 D M Bristow 10/07/2023 A Monro 14/07/2020 S F W Village 14/07/2020 25 April 2025 The principal activity of the Company in the year was that of a hotel and provider of sporting activities. 00265948 2024-03-31 00265948 bus:Director1 2024-03-31 00265948 bus:Director2 2024-03-31 00265948 bus:Director3 2024-03-31 00265948 2023-03-31 00265948 core:CurrentFinancialInstruments 2024-03-31 00265948 core:CurrentFinancialInstruments 2023-03-31 00265948 core:Non-currentFinancialInstruments 2024-03-31 00265948 core:Non-currentFinancialInstruments 2023-03-31 00265948 core:ShareCapital 2024-03-31 00265948 core:ShareCapital 2023-03-31 00265948 core:SharePremium 2024-03-31 00265948 core:SharePremium 2023-03-31 00265948 core:RevaluationReserve 2024-03-31 00265948 core:RevaluationReserve 2023-03-31 00265948 core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 00265948 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 00265948 core:RetainedEarningsAccumulatedLosses 2024-03-31 00265948 core:RetainedEarningsAccumulatedLosses 2023-03-31 00265948 core:OtherResidualIntangibleAssets 2023-03-31 00265948 core:OtherResidualIntangibleAssets 2024-03-31 00265948 core:LandBuildings 2023-03-31 00265948 core:Vehicles 2023-03-31 00265948 core:FurnitureFittings 2023-03-31 00265948 core:LandBuildings 2024-03-31 00265948 core:Vehicles 2024-03-31 00265948 core:FurnitureFittings 2024-03-31 00265948 bus:OrdinaryShareClass1 2024-03-31 00265948 bus:OrdinaryShareClass2 2024-03-31 00265948 2023-04-01 2024-03-31 00265948 bus:FilletedAccounts 2023-04-01 2024-03-31 00265948 bus:SmallEntities 2023-04-01 2024-03-31 00265948 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00265948 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00265948 bus:Director1 2023-04-01 2024-03-31 00265948 bus:Director2 2023-04-01 2024-03-31 00265948 bus:Director3 2023-04-01 2024-03-31 00265948 core:Vehicles 2023-04-01 2024-03-31 00265948 core:FurnitureFittings 2023-04-01 2024-03-31 00265948 2022-04-01 2023-03-31 00265948 core:OtherResidualIntangibleAssets 1 2023-04-01 2024-03-31 00265948 1 2023-04-01 2024-03-31 00265948 core:LandBuildings 2023-04-01 2024-03-31 00265948 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 00265948 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00265948 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00265948 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 00265948 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00265948 (England and Wales)

ARUNDELL ARMS HOTEL CO. LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ARUNDELL ARMS HOTEL CO. LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ARUNDELL ARMS HOTEL CO. LIMITED

BALANCE SHEET

As at 31 March 2024
ARUNDELL ARMS HOTEL CO. LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 130,000 130,000
Tangible assets 4 3,300,394 3,350,000
Investment property 5 385,066 587,000
3,815,460 4,067,000
Current assets
Stocks 57,000 70,530
Debtors 6 29,288 13,176
Cash at bank and in hand 57,873 975
144,161 84,681
Creditors: amounts falling due within one year 7 ( 658,365) ( 520,590)
Net current liabilities (514,204) (435,909)
Total assets less current liabilities 3,301,256 3,631,091
Creditors: amounts falling due after more than one year 8 ( 1,834,396) ( 1,785,425)
Provision for liabilities ( 244,956) ( 325,761)
Net assets 1,221,904 1,519,905
Capital and reserves
Called-up share capital 9 11,080 11,080
Share premium account 133,920 133,920
Revaluation reserve 1,666,451 1,666,451
Fair value reserve 158,018 354,518
Profit and loss account ( 747,565 ) ( 646,064 )
Total shareholders' funds 1,221,904 1,519,905

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Arundell Arms Hotel Co. Limited (registered number: 00265948) were approved and authorised for issue by the Board of Directors on 25 April 2025. They were signed on its behalf by:

D M Bristow
Director
ARUNDELL ARMS HOTEL CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ARUNDELL ARMS HOTEL CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Arundell Arms Hotel Co. Limited (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 Arundell Arms Hotel, Lifton, Devon, PL16 0AA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Employee benefits

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

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life. The intangible assets held in the company are held in perpetuity and as such the expected life is undefined.

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 58 53

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 130,000 130,000
Revaluation 0 0
At 31 March 2024 130,000 130,000
Accumulated amortisation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 130,000 130,000
At 31 March 2023 130,000 130,000

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2023 3,079,166 28,463 1,023,240 4,130,869
Additions 0 0 5,700 5,700
At 31 March 2024 3,079,166 28,463 1,028,940 4,136,569
Accumulated depreciation
At 01 April 2023 0 10,886 769,983 780,869
Charge for the financial year 0 3,515 51,791 55,306
At 31 March 2024 0 14,401 821,774 836,175
Net book value
At 31 March 2024 3,079,166 14,062 207,166 3,300,394
At 31 March 2023 3,079,166 17,577 253,257 3,350,000

5. Investment property

Investment property
£
Valuation
As at 01 April 2023 587,000
Additions 60,066
Disposals (262,000)
As at 31 March 2024 385,066

Investment property comprises property held for commercial rental purposes and capital appreciation. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 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.

6. Debtors

2024 2023
£ £
Trade debtors 29,288 13,176

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 0 47,420
Trade creditors 190,550 90,892
Other taxation and social security 395,592 320,315
Other creditors 72,223 61,963
658,365 520,590

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

2024 2023
£ £
Other creditors 1,834,396 1,785,425

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

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary A shares of £ 1.00 each 10,000 10,000
1,080 Ordinary B shares of £ 1.00 each 1,080 1,080
11,080 11,080

10. Contingencies

Contingent liabilities

2024 2023
£ £
Total contingent liabilities 95,532 0

The company has provided a contingent liability in respect of a dispute with a supplier. The company believes that a settlement has been reached but the supplier has not formally agreed this.