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REGISTERED NUMBER: 08394840 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 December 2024

for

Ivy House Country Hotel Ltd

Ivy House Country Hotel Ltd (Registered number: 08394840)






Contents of the Financial Statements
for the Year Ended 30 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ivy House Country Hotel Ltd

Company Information
for the Year Ended 30 December 2024







DIRECTORS: Dr A Parton MBE
Dr A C Parton





REGISTERED OFFICE: Ivy Lane
Oulton Broad
Lowestoft
Suffolk
NR33 8HY





REGISTERED NUMBER: 08394840 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Ivy House Country Hotel Ltd (Registered number: 08394840)

Balance Sheet
30 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,258,839 2,206,538
2,258,839 2,206,538

CURRENT ASSETS
Stocks 11,746 19,401
Debtors 6 14,722 28,318
Cash at bank and in hand 52,618 14,276
79,086 61,995
CREDITORS
Amounts falling due within one year 7 342,011 312,088
NET CURRENT LIABILITIES (262,925 ) (250,093 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,995,914 1,956,445

CREDITORS
Amounts falling due after more than one
year

8

5,366,343

4,763,885
NET LIABILITIES (3,370,429 ) (2,807,440 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (3,370,529 ) (2,807,540 )
SHAREHOLDERS' FUNDS (3,370,429 ) (2,807,440 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

Ivy House Country Hotel Ltd (Registered number: 08394840)

Balance Sheet - continued
30 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 18 June 2025 and were signed on its behalf by:




Dr A Parton MBE - Director



Dr A C Parton - Director


Ivy House Country Hotel Ltd (Registered number: 08394840)

Notes to the Financial Statements
for the Year Ended 30 December 2024

1. STATUTORY INFORMATION

Ivy House Country Hotel 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.

GOING CONCERN

Having reviewed the projected results and cash flow forecasts of the company the directors are confident that the company will be able to meet its cash obligations in the foreseeable future. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

The company continues to have the support of the directors whom are satisfied that cash demands will be met through the growth of turnover and profit margins.

Significant judgements and estimates
In the application of the Company's accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised if revision affects only that and future periods.

The following are critical judgements including those involving estimations, that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Depreciation of tangible fixed assets - plant and machinery
Tangible fixed assets are recognised at cost and depreciated on the basis appropriate to charge to the profit and loss the economic consumption of those assets during the accounting period. The charge is calculated as described below and is based on the directors knowledge of the reduction in the residual value of trading assets and estate property on average over the investment cycle of each class of asset. The rates of depreciation are kept under review such that assets are written down to residual value at the end of the economic lives of the assets.

Ivy House Country Hotel Ltd (Registered number: 08394840)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents net invoiced sales of goods and services at fair value, excluding value added tax.

Turnover is recognised at fair value when the service is provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on cost and 20 years straight line
Plant & machinery - 5 years straight line and 25 years straight line
Fixtures & fittings - 5 years straight line
Motor vehicles - 20% on reducing balance
Computer equipment - 5 years straight line

Freehold land is not depreciated.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Ivy House Country Hotel Ltd (Registered number: 08394840)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

2. ACCOUNTING POLICIES - continued

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.

Impairment policy
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 44 ) .

Ivy House Country Hotel Ltd (Registered number: 08394840)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 December 2023
and 30 December 2024 90,000
AMORTISATION
At 31 December 2023
and 30 December 2024 90,000
NET BOOK VALUE
At 30 December 2024 -
At 30 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 December 2023 2,884,717 520,385 3,405,102
Additions 154,512 3,395 157,907
At 30 December 2024 3,039,229 523,780 3,563,009
DEPRECIATION
At 31 December 2023 778,236 420,328 1,198,564
Charge for year 88,378 17,228 105,606
At 30 December 2024 866,614 437,556 1,304,170
NET BOOK VALUE
At 30 December 2024 2,172,615 86,224 2,258,839
At 30 December 2023 2,106,481 100,057 2,206,538

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 14,722 28,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,495 40,984
Trade creditors 40,182 67,616
Taxation and social security 46,644 56,148
Other creditors 215,690 147,340
342,011 312,088

Ivy House Country Hotel Ltd (Registered number: 08394840)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 557,264 600,824
Other creditors 4,809,079 4,163,061
5,366,343 4,763,885

Amounts falling due in more than five years:

Repayable by instalments
Bank loan more than 5 years 436,464 462,646

Other creditors includes £4,809,079 (2023 - £4,163,061) due to the directors.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Directors' loan account 4,809,079 4,163,061
Bank Loan 596,758 641,808
5,405,837 4,804,869

The directors loan account is secured by a fixed and floating charge over the assets of the company.

The Bank loan is secured by a fixed charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary £1 75 75
25 Ordinary A £1 25 25
100 100