| REGISTERED NUMBER: 05238518 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| W W HOTELS LIMITED |
| REGISTERED NUMBER: 05238518 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| FOR |
| W W HOTELS LIMITED |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Director | 3 |
| Report of the Independent Auditors | 4 |
| Consolidated Income Statement | 7 |
| Consolidated Other Comprehensive Income | 8 |
| Consolidated Balance Sheet | 9 |
| Company Balance Sheet | 10 |
| Consolidated Statement of Changes in Equity | 11 |
| Company Statement of Changes in Equity | 12 |
| Consolidated Cash Flow Statement | 13 |
| Notes to the Consolidated Cash Flow Statement | 14 |
| Notes to the Consolidated Financial Statements | 16 |
| W W HOTELS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: | Mel A Henry |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| Charter House |
| Stansfield Street |
| Nelson |
| Lancashire |
| BB9 9XY |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The director presents his strategic report of the company and the group for the year ended 30th September 2024. |
| REVIEW OF BUSINESS |
| The principal activity of the group is that of hospitality, with the main asset of the group being Hotel Rendezvous. |
| The director considers the results achieved by the group to be satisfactory in view of the UK economy and instability caused by the cost of living crisis. |
| The group's key performance indicators during the year were as follows: |
| 30.9.24 | 30.9.23 |
| Turnover | £3,352,625 | £3,167,559 |
| Gross profit | £2,864,353 | £2,668,123 |
| Gross profit margin% | 85.44% | 842.3% |
| Net profit/(loss) | £6,551 | (380,300 | ) |
| During the year and previous year the cost of living crisis has adversely affected the group's costs, leading to a decrease in profitability. The director has closely monitored costs throughout the year, making and implementing changes to mitigate the impact of these effects. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal commercial risks and uncertainties faced by the group include the general economic climate, seasonal weather factors, competition and rising costs. The director monitor these risks in order to respond and react to changes in the marketplace. |
| FINANCIAL RISK MANAGEMENT |
| The group's operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The director actively manage these risks by monitoring levels of risk and related costs of mitigating these. |
| EMPLOYEES |
| The directors continue to develop employees using both external and in house resources. Programmes are developed around both business needs and personal development. The group continues to appraise all systems and staff wellbeing to actively promote a positive group culture. |
| ON BEHALF OF THE BOARD: |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| The director presents his report with the financial statements of the company and the group for the year ended 30th September 2024. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 30th September 2024. |
| DIRECTOR |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| AUDITORS |
| The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| W W HOTELS LIMITED |
| Opinion |
| We have audited the financial statements of W W Hotels Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of 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: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 30th September 2024 and of the group's profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's 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 the 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 director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
| 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. |
| In connection with our audit of the financial statements, 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 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 the audit: |
| - | the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| W W HOTELS LIMITED |
| 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 its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
| Auditors' 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 a Report of the Auditors 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. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Identifying and assessing potential risks related to irregularities |
| In identifying and assessing risks of material misstatement in respect of irregularities, we considered the following: |
| - | the nature of the industry and sector, control environment and business performance; |
| - | results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
| - | any matters we identified having made enquiries of management about their policies and procedures relating to: |
| > | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; |
| > | detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
| > | the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |
| - | the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| W W HOTELS LIMITED |
| As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. 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 company 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 the UK Companies Act and local tax legislation. |
| In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate. |
| Audit response to risks identified |
| As a result of performing the above our procedures to respond to the risks identified included the following: |
| - | reviewing the financial statements disclosure and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
| - | enquiring of management about actual and potential litigation and claims; |
| - | performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; |
| - | obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and |
| - | in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
| There are inherent limitations in the audit procedures described above and the further removed the non-compliance with laws and regulations is from events and transactions reflected in the financial statements the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| 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 a Report of the Auditors 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. |
| for and on behalf of |
| Chartered Accountants |
| and Statutory Auditors |
| Charter House |
| Stansfield Street |
| Nelson |
| Lancashire |
| BB9 9XY |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONSOLIDATED INCOME STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| TURNOVER | 3,352,625 | 3,167,559 |
| Cost of sales | 488,272 | 499,436 |
| GROSS PROFIT | 2,864,353 | 2,668,123 |
| Administrative expenses | 2,890,070 | 2,908,166 |
| (25,717 | ) | (240,043 | ) |
| Other operating income | 226,224 | 28,816 |
| OPERATING PROFIT/(LOSS) | 4 | 200,507 | (211,227 | ) |
| Interest receivable and similar income | - | 152 |
| 200,507 | (211,075 | ) |
| Interest payable and similar expenses | 5 | 214,298 | 210,668 |
| LOSS BEFORE TAXATION | (13,791 | ) | (421,743 | ) |
| Tax on loss | 6 | (20,342 | ) | (41,443 | ) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| Profit/(loss) attributable to: |
| Owners of the parent | 6,551 | (380,300 | ) |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONSOLIDATED OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| PROFIT/(LOSS) FOR THE YEAR | 6,551 | (380,300 | ) |
| OTHER COMPREHENSIVE INCOME |
| Revaluation of freehold property | - | 1,068,643 |
| Income tax relating to other comprehensive income |
- |
(30,040 |
) |
| OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
- |
1,038,603 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
6,551 |
658,303 |
| Total comprehensive income attributable to: |
| Owners of the parent | 6,551 | 658,303 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONSOLIDATED BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 9 | - | - |
| Tangible assets | 10 | 6,060,863 | 6,224,483 |
| Investments | 11 | - | - |
| Investment property | 12 | 314,000 | 314,000 |
| 6,374,863 | 6,538,483 |
| CURRENT ASSETS |
| Stocks | 13 | 28,214 | 28,214 |
| Debtors | 14 | 504,336 | 248,519 |
| Cash at bank and in hand | 12,545 | 26,871 |
| 545,095 | 303,604 |
| CREDITORS |
| Amounts falling due within one year | 15 | 3,442,980 | 1,150,576 |
| NET CURRENT LIABILITIES | (2,897,885 | ) | (846,972 | ) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
3,476,978 |
5,691,511 |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
(360,561 |
) |
(2,556,864 |
) |
| PROVISIONS FOR LIABILITIES | 20 | (145,459 | ) | (170,240 | ) |
| NET ASSETS | 2,970,958 | 2,964,407 |
| CAPITAL AND RESERVES |
| Called up share capital | 21 | 6 | 6 |
| Revaluation reserve | 22 | 2,780,370 | 2,829,263 |
| Capital redemption reserve | 22 | 1 | 1 |
| Retained earnings | 22 | 190,581 | 135,137 |
| SHAREHOLDERS' FUNDS | 2,970,958 | 2,964,407 |
| The financial statements were approved by the director and authorised for issue on 19th June 2025 and were signed by: |
| C L Weaving - Director |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| COMPANY BALANCE SHEET |
| 30TH SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 9 |
| Tangible assets | 10 |
| Investments | 11 |
| Investment property | 12 |
| CURRENT ASSETS |
| Stocks | 13 |
| Debtors | 14 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 15 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 20 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 21 |
| Revaluation reserve | 22 |
| Capital redemption reserve | 22 |
| Retained earnings | 22 |
| SHAREHOLDERS' FUNDS |
| Company's profit/(loss) for the financial year | 40,315 | (426,382 | ) |
| The financial statements were approved by the director and authorised for issue on |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Called up | Capital |
| share | Retained | Revaluation | redemption | Total |
| capital | earnings | reserve | reserve | equity |
| £ | £ | £ | £ | £ |
| Balance at 1st October 2022 | 6 | 1,182,930 | 1,838,167 | 1 | 3,021,104 |
| Changes in equity |
| Dividends | - | (715,000 | ) | - | - | (715,000 | ) |
| Total comprehensive income | - | (332,793 | ) | 991,096 | - | 658,303 |
| Balance at 30th September 2023 | 6 | 135,137 | 2,829,263 | 1 | 2,964,407 |
| Changes in equity |
| Total comprehensive income | - | 55,444 | (48,893 | ) | - | 6,551 |
| Balance at 30th September 2024 | 6 | 190,581 | 2,780,370 | 1 | 2,970,958 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| Called up | Capital |
| share | Retained | Revaluation | redemption | Total |
| capital | earnings | reserve | reserve | equity |
| £ | £ | £ | £ | £ |
| Balance at 1st October 2022 |
| Changes in equity |
| Dividends | - | ( |
) | - | - | ( |
) |
| Total comprehensive income | - | ( |
) |
| Balance at 30th September 2023 |
| Changes in equity |
| Total comprehensive income | - | ( |
) |
| Balance at 30th September 2024 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 442,490 | 30,451 |
| Interest paid | (214,298 | ) | (209,245 | ) |
| Net cash from operating activities | 228,192 | (178,794 | ) |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (108,014 | ) | (9,596 | ) |
| Interest received | - | 152 |
| Net cash from investing activities | (108,014 | ) | (9,444 | ) |
| Cash flows from financing activities |
| New loans in year | - | 218,865 |
| Loan repayments in year | (304,490 | ) | (331,683 | ) |
| Hire purchase repayments | (8,941 | ) | (15,326 | ) |
| Amount introduced by directors | 32,747 | - |
| Amount withdrawn by directors | - | (34,378 | ) |
| Net cash from financing activities | (280,684 | ) | (162,522 | ) |
| Decrease in cash and cash equivalents | (160,506 | ) | (350,760 | ) |
| Cash and cash equivalents at beginning of year |
2 |
(8,087 |
) |
342,673 |
| Cash and cash equivalents at end of year | 2 | (168,593 | ) | (8,087 | ) |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Loss before taxation | (13,791 | ) | (421,743 | ) |
| Depreciation charges | 271,634 | 236,259 |
| Finance costs | 214,298 | 210,668 |
| Finance income | - | (152 | ) |
| 472,141 | 25,032 |
| Increase in stocks | - | (3,127 | ) |
| (Increase)/decrease in trade and other debtors | (288,564 | ) | 20,101 |
| Increase/(decrease) in trade and other creditors | 258,913 | (11,555 | ) |
| Cash generated from operations | 442,490 | 30,451 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30th September 2024 |
| 30.9.24 | 1.10.23 |
| £ | £ |
| Cash and cash equivalents | 12,545 | 26,871 |
| Bank overdrafts | (181,138 | ) | (34,958 | ) |
| (168,593 | ) | (8,087 | ) |
| Year ended 30th September 2023 |
| 30.9.23 | 1.10.22 |
| £ | £ |
| Cash and cash equivalents | 26,871 | 342,673 |
| Bank overdrafts | (34,958 | ) | - |
| (8,087 | ) | 342,673 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.10.23 | Cash flow | At 30.9.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 26,871 | (14,326 | ) | 12,545 |
| Bank overdrafts | (34,958 | ) | (146,180 | ) | (181,138 | ) |
| (8,087 | ) | (160,506 | ) | (168,593 | ) |
| Debt |
| Finance leases | (8,941 | ) | 8,941 | - |
| Debts falling due within 1 year | (386,665 | ) | (1,891,813 | ) | (2,278,478 | ) |
| Debts falling due after 1 year | (2,556,864 | ) | 2,196,303 | (360,561 | ) |
| (2,952,470 | ) | 313,431 | (2,639,039 | ) |
| Total | (2,960,557 | ) | 152,925 | (2,807,632 | ) |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| W W Hotels Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the time of approving the financial statements the director has a reasonable expectation that the group has adequate funding to continue in operational existence for the foreseeable future, subject to the continued support of the group bankers in the form of the renewal of the bank overdraft and bank loan facilities. Thus, the financial statements continue to adopt the going concern basis of preparing the financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Canal barge | - |
| Computer equipment | - |
| Freehold property is recognised at fair value. Any surplus or deficit arising from the change in the fair value is recognised in the statement of other comprehensive income. Other tangible assets are initially measured at cost. All tangible assets are measured at cost or valuation less any accumulated depreciated. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period to which they relate. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Wages and salaries | 1,255,780 | 1,277,723 |
| Social security costs | 81,017 | 81,302 |
| Other pension costs | 21,092 | 20,500 |
| 1,357,889 | 1,379,525 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS - continued |
| The average number of employees during the year was as follows: |
| 30.9.24 | 30.9.23 |
| Management | 1 | 5 |
| Administration | 3 | 1 |
| Service delivery | 82 | 85 |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Directors' remuneration | - | - |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2023 - operating loss) is stated after charging: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Depreciation - owned assets | 265,887 | 230,512 |
| Depreciation - assets on hire purchase contracts | 5,747 | 5,747 |
| Auditors' remuneration | 5,750 | 5,750 |
| Other accountancy services paid to the auditor | - | 14,862 |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Bank loan interest | 197,298 | 205,128 |
| Other interest | 17,000 | 5,540 |
| 214,298 | 210,668 |
| 6. | TAXATION |
| Analysis of the tax credit |
| The tax credit on the loss for the year was as follows: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Current tax: |
| UK corporation tax | 4,439 | - |
| Overprovision in prior years | - | (13,699 | ) |
| Total current tax | 4,439 | (13,699 | ) |
| Origination and reversal of sh |
| ort term timing differences | (24,781 | ) | (27,744 | ) |
| Tax on loss | (20,342 | ) | (41,443 | ) |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 6. | TAXATION - continued |
| Reconciliation of total tax credit included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Loss before tax | (13,791 | ) | (421,743 | ) |
| Loss multiplied by the standard rate of corporation tax in the UK of 19 % (2023 - 25 %) |
(2,620 |
) |
(105,436 |
) |
| Effects of: |
| Expenses not deductible for tax purposes | 3,268 | 35,150 |
| Income not taxable for tax purposes | (36,480 | ) | - |
| Adjustments to tax charge in respect of previous periods | (30,040 | ) | 5,967 |
| Depreciation of non-qualifying assets | 37,854 | 40,963 |
| Enhanced tax deductions | - | (226 | ) |
| Changes in tax rates | 1,261 | 8,285 |
| Consolidation adjustment | 6,415 | (26,146 | ) |
| Total tax credit | (20,342 | ) | (41,443 | ) |
| Tax effects relating to effects of other comprehensive income |
| There were no tax effects for the year ended 30th September 2024. |
| 30.9.23 |
| Gross | Tax | Net |
| £ | £ | £ |
| Revaluation of freehold property | 1,068,643 | (30,040 | ) | 1,038,603 |
| 7. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 8. | DIVIDENDS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Interim | - | 715,000 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 9. | INTANGIBLE FIXED ASSETS |
| Company |
| Goodwill |
| £ |
| COST |
| At 1st October 2023 |
| and 30th September 2024 |
| AMORTISATION |
| At 1st October 2023 |
| and 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| 10. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st October 2023 | 6,250,000 | 874,311 | 574,699 |
| Additions | - | 84,441 | 2,621 |
| At 30th September 2024 | 6,250,000 | 958,752 | 577,320 |
| DEPRECIATION |
| At 1st October 2023 | 712,607 | 676,028 | 535,111 |
| Charge for year | 154,685 | 72,929 | 9,168 |
| At 30th September 2024 | 867,292 | 748,957 | 544,279 |
| NET BOOK VALUE |
| At 30th September 2024 | 5,382,708 | 209,795 | 33,041 |
| At 30th September 2023 | 5,537,393 | 198,283 | 39,588 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixtures |
| and | Canal | Computer |
| fittings | barge | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1st October 2023 | 281,295 | 425,549 | 8,907 | 8,414,761 |
| Additions | 19,723 | - | 1,229 | 108,014 |
| At 30th September 2024 | 301,018 | 425,549 | 10,136 | 8,522,775 |
| DEPRECIATION |
| At 1st October 2023 | 208,791 | 51,066 | 6,675 | 2,190,278 |
| Charge for year | 16,188 | 17,022 | 1,642 | 271,634 |
| At 30th September 2024 | 224,979 | 68,088 | 8,317 | 2,461,912 |
| NET BOOK VALUE |
| At 30th September 2024 | 76,039 | 357,461 | 1,819 | 6,060,863 |
| At 30th September 2023 | 72,504 | 374,483 | 2,232 | 6,224,483 |
| Cost or valuation at 30th September 2024 is represented by: |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| Cost | 6,250,000 | 958,752 | 577,320 |
| Fixtures |
| and | Canal | Computer |
| fittings | barge | equipment | Totals |
| £ | £ | £ | £ |
| Cost | 301,018 | 425,549 | 10,136 | 8,522,775 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Cost | 3,787,623 | 3,787,623 |
| Aggregate depreciation | 1,079,466 | 1,079,466 |
| Freehold property was valued on a fair value basis basis on 30th September 2023 by the director . |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and |
| fittings |
| £ |
| COST OR VALUATION |
| At 1st October 2023 | 38,316 |
| Transfer to ownership | (38,316 | ) |
| At 30th September 2024 | - |
| DEPRECIATION |
| At 1st October 2023 | 13,410 |
| Charge for year | 5,747 |
| Transfer to ownership | (19,157 | ) |
| At 30th September 2024 | - |
| NET BOOK VALUE |
| At 30th September 2024 | - |
| At 30th September 2023 | 24,906 |
| Company |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st October 2023 |
| Additions |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st October 2023 |
| Additions |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| Cost or valuation at 30th September 2024 is represented by: |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| Valuation in 2024 | 6,250,000 | - | - |
| Cost | - | 958,752 | 577,320 |
| 6,250,000 | 958,752 | 577,320 |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| Valuation in 2024 | - | - | 6,250,000 |
| Cost | 301,018 | 10,136 | 1,847,226 |
| 301,018 | 10,136 | 8,097,226 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Company |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Cost | 3,787,623 | 3,787,623 |
| Aggregate depreciation | 1,155,218 | 1,079,466 |
| Freehold property was valued on a fair value basis basis on 30th September 2024 by the director . |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and |
| fittings |
| £ |
| COST OR VALUATION |
| At 1st October 2023 |
| Transfer to ownership | (38,316 | ) |
| At 30th September 2024 |
| DEPRECIATION |
| At 1st October 2023 |
| Charge for year |
| Transfer to ownership | (19,157 | ) |
| At 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 11. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1st October 2023 |
| and 30th September 2024 |
| PROVISIONS |
| At 1st October 2023 |
| and 30th September 2024 | 250,000 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: Rendezvous Hotel, Keighley Road, Skipton, North Yorkshire BD23 2TA |
| Nature of business: |
| % |
| Class of shares: | holding |
| 12. | INVESTMENT PROPERTY |
| Group |
| Total |
| £ |
| FAIR VALUE |
| At 1st October 2023 |
| and 30th September 2024 | 314,000 |
| NET BOOK VALUE |
| At 30th September 2024 | 314,000 |
| At 30th September 2023 | 314,000 |
| Fair value at 30th September 2024 is represented by: |
| £ |
| Valuation in 2023 | 314,000 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 12. | INVESTMENT PROPERTY - continued |
| Group |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Cost | 276,232 | 276,232 |
| Investment property was valued on a fair value basis on 30th September 2023 by the director . |
| Company |
| Total |
| £ |
| FAIR VALUE |
| At 1st October 2023 |
| and 30th September 2024 |
| NET BOOK VALUE |
| At 30th September 2024 |
| At 30th September 2023 |
| Fair value at 30th September 2024 is represented by: |
| £ |
| Valuation in 2024 | 314,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Cost | 276,232 | 276,232 |
| Investment property was valued on a fair value basis on 30th September 2024 by the director . |
| 13. | STOCKS |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Stocks | 28,214 | 28,214 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Trade debtors | 146,806 | 76,231 |
| Amounts owed by group undertakings | - | - |
| Other debtor | 315,516 | 100,000 | 315,516 | 100,000 |
| Directors' current accounts | - | 32,747 | - | 32,747 |
| Prepayments | 42,014 | 39,541 |
| 504,336 | 248,519 |
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 17) | 2,312,208 | 330,071 |
| Other loans (see note 17) | 147,408 | 91,552 |
| Hire purchase contracts (see note 18) | - | 8,941 |
| Trade creditors | 426,295 | 200,169 |
| Customer deposits | 112,484 | 114,163 | 112,484 | 114,163 |
| Tax | 13,570 | 9,131 |
| Social security and other taxes | 23,796 | 16,980 |
| VAT | 130,289 | 123,841 | 130,289 | 123,841 |
| Other creditors | 182,375 | 199,900 |
| Accruals and deferred income | 94,555 | 55,828 |
| 3,442,980 | 1,150,576 |
| Included within other creditors is £196,000 (2022: £200,000) which is owed to an individual that is a family member to the shareholders and director. |
| 16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Bank loans (see note 17) | 107,872 | 2,238,525 |
| Other loans (see note 17) | 252,689 | 318,339 |
| 360,561 | 2,556,864 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 17. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank overdrafts | 181,138 | 34,958 |
| Bank loans | 2,131,070 | 295,113 |
| Other loans | 147,408 | 91,552 |
| 2,459,616 | 421,623 |
| Amounts falling due between one and two | years: |
| Bank loans - 1-2 years | 95,372 | 2,130,661 |
| Other loans - 1-2 years | 151,805 | 99,823 | 151,805 |
| 247,177 | 2,230,484 |
| Amounts falling due between two and five | years: |
| Bank loans - 2-5 years | 12,500 | 107,864 |
| Other loans - 2-5 years | 100,884 | 218,516 |
| 113,384 | 326,380 |
| 18. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Net obligations repayable: |
| Within one year | - | 8,941 |
| Company |
| Hire purchase contracts |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 19. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Bank overdraft | 181,138 | 34,958 |
| Bank loans | 2,238,942 | 2,533,638 |
| Hire purchase contracts | - | 8,941 | - | 8,941 |
| 2,420,080 | 2,577,537 |
| Bank borrowings are secured by a first legal charge over the freehold property of the company and by a fixed and floating charge over the assets of the company. |
| Hire purchase contracts are secured on the assets to which they relate. |
| 20. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 30.9.24 | 30.9.23 | 30.9.24 | 30.9.23 |
| £ | £ | £ | £ |
| Deferred tax |
| Deferred tax | 149,973 | 185,618 | 78,821 | 114,466 |
| Loss reliefs | (4,514 | ) | (15,378 | ) | - | (10,864 | ) |
| 145,459 | 170,240 | 78,821 | 103,602 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 | 170,240 |
| Provided during year | 5,259 |
| Provided on revalued assets | (30,040 | ) |
| Trading loss relief |
| Balance at 30th September 2024 | 145,459 |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1st October 2023 |
| Provided during year |
| Provided on revalued assets | (30,040 | ) |
| Balance at 30th September 2024 |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 21. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
| value: | £ | £ |
| Ordinary | £1 | 6 | 6 |
| 22. | RESERVES |
| Group |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1st October 2023 | 135,137 | 2,829,263 | 1 | 2,964,401 |
| Profit for the year | 6,551 | 6,551 |
| Transfer | 48,893 | (48,893 | ) | - | - |
| At 30th September 2024 | 190,581 | 2,780,370 | 1 | 2,970,952 |
| Company |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1st October 2023 | 2,957,964 |
| Profit for the year |
| Transfer | 48,893 | (48,893 | ) | - | - |
| At 30th September 2024 | 2,998,279 |
| 23. | OTHER FINANCIAL COMMITMENTS |
| Group and Company |
| At 30th September 2024 the group and company had total commitments under non-cancellable operating leases over the remaining life of those leases amounting to £7,712 (2023: £14,182). |
| W W HOTELS LIMITED (REGISTERED NUMBER: 05238518) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
| 24. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30th September 2024 and 30th September 2023: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| E M Weaving (Deceased) and Mrs K A Weaving |
| Balance outstanding at start of year | 32,747 | 713,369 |
| Amounts advanced | - | 97,910 |
| Amounts repaid | (32,747 | ) | (778,532 | ) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | - | 32,747 |
| Directors' loans are unsecured, interest free and repayable on demand. |
| 25. | RELATED PARTY DISCLOSURES |
| Group |
| (i) During the year the group provided services and funding totalling £Nil (2023: £Nil) to Foxholes Holdings Limited, an offshore company in which C L Weaving (who is a director) has a controlling interest. All such transactions were carried out on a commercial basis. |
| As at 30th September 2024 the group was owed £315,516 (2023: £100,000) by this related party. |
| Company |
| (i) During the year the company provided services and funding totalling £Nil (2023: £Nil) to Foxholes Holdings Limited, an offshore company in which C L Weaving (who is a director) has a controlling interest. All such transactions were carried out on a commercial basis. |
| As at 30th September 2024 the company was owed £315,516 (2023: £100,000) by this related party. |
| 26. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party of the company consists of all the shareholders acting together as no individual shareholder has overall control. |