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REGISTERED NUMBER: 13074548 (England and Wales)












The Shipwrights Arms Helford Hospitality
Ltd

Unaudited Financial Statements

for the Year Ended 31st December 2024






The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Shipwrights Arms Helford Hospitality
Ltd

Company Information
for the Year Ended 31st December 2024







DIRECTORS: S Hastings
Mrs T Hastings





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 13074548 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Statement of Financial Position
31st December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 42,762 83,887
Tangible assets 5 2,902,203 2,946,947
2,944,965 3,030,834

CURRENT ASSETS
Stocks 11,634 10,698
Debtors 6 18,859 19,732
Cash at bank and in hand 31,982 30,303
62,475 60,733
CREDITORS
Amounts falling due within one year 7 (4,697,014 ) (4,430,596 )
NET CURRENT LIABILITIES (4,634,539 ) (4,369,863 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,689,574

)

(1,339,029

)

PROVISIONS FOR LIABILITIES (15,026 ) (20,178 )
NET LIABILITIES (1,704,600 ) (1,359,207 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (1,704,800 ) (1,359,407 )
SHAREHOLDERS' FUNDS (1,704,600 ) (1,359,207 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Statement of Financial Position - continued
31st December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th April 2025 and were signed on its behalf by:





S Hastings - Director


The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

The Shipwrights Arms Helford Hospitality Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents invoiced sales of goods and services, excluding value added tax. Turnover is
recognised when the goods or service is provided

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Website
The website is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided for on Land
Pontoon - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the year end the company had net current liabilities and net liabilities and is reliant on the continued support of the directors. The financial statements have been prepared on the going concern basis and the directors believe this is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1st January 2024
and 31st December 2024 200,000 4,500 204,500
AMORTISATION
At 1st January 2024 120,000 613 120,613
Amortisation for year 40,000 1,125 41,125
At 31st December 2024 160,000 1,738 161,738
NET BOOK VALUE
At 31st December 2024 40,000 2,762 42,762
At 31st December 2023 80,000 3,887 83,887

The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Pontoon machinery
£    £    £   
COST
At 1st January 2024 2,938,551 15,709 90,332
Additions 36,946 - 83
Disposals (501 ) - -
At 31st December 2024 2,974,996 15,709 90,415
DEPRECIATION
At 1st January 2024 93,916 8,608 26,660
Charge for year 55,230 3,142 18,081
Eliminated on disposal (33 ) - -
At 31st December 2024 149,113 11,750 44,741
NET BOOK VALUE
At 31st December 2024 2,825,883 3,959 45,674
At 31st December 2023 2,844,635 7,101 63,672

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2024 42,860 2,262 3,089,714
Additions - - 37,029
Disposals - - (501 )
At 31st December 2024 42,860 2,262 3,126,242
DEPRECIATION
At 1st January 2024 12,478 1,105 142,767
Charge for year 4,286 566 81,305
Eliminated on disposal - - (33 )
At 31st December 2024 16,764 1,671 224,039
NET BOOK VALUE
At 31st December 2024 26,096 591 2,902,203
At 31st December 2023 30,382 1,157 2,946,947

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 18,500 16,522
Other debtors 359 3,210
18,859 19,732

The Shipwrights Arms Helford Hospitality
Ltd (Registered number: 13074548)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 17,731 42,251
Taxation and social security 8,467 388
Other creditors 4,670,816 4,387,957
4,697,014 4,430,596

Included within other creditors above is the director's loan account balance of £4,144,120 (2023: £4,030,258). Interest is accruing on this loan at a rate of 5% per annum. There is no intention of the loan being repaid within 12 months of the year end.