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REGISTERED NUMBER: 09638212 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

The Furzedown Hotel Limited

The Furzedown Hotel Limited (Registered number: 09638212)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


The Furzedown Hotel Limited (Registered number: 09638212)

Balance Sheet
30 September 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 5 305,866 317,091

Current assets
Stocks 8,500 8,000
Debtors 6 46,903 30,637
Cash at bank and in hand 66,680 77,338
122,083 115,975
Creditors
Amounts falling due within one year 7 (136,385 ) (100,093 )
Net current (liabilities)/assets (14,302 ) 15,882
Total assets less current liabilities 291,564 332,973

Creditors
Amounts falling due after more than one
year

8

(282,011

)

(311,212

)

Provisions for liabilities (7,212 ) (8,329 )
Net assets 2,341 13,432

Capital and reserves
Called up share capital 130 130
Retained earnings 2,211 13,302
2,341 13,432

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Furzedown Hotel Limited (Registered number: 09638212)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





Mr P A N Garrod - Director


The Furzedown Hotel Limited (Registered number: 09638212)

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


1. Statutory information

The Furzedown Hotel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09638212

Registered office: 19-20 North Drive
Great Yarmouth
Norfolk
NR30 4EN

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these 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.

The Furzedown Hotel Limited (Registered number: 09638212)

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


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


The Furzedown Hotel Limited (Registered number: 09638212)

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


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

4. Employees and directors

The average number of employees during the year was 10 (2023 - 23 ) .

The Furzedown Hotel Limited (Registered number: 09638212)

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


5. Tangible fixed assets
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
Cost
At 1 October 2023 337,825 67,338 15,500 420,663
Additions - 1,326 - 1,326
Disposals - (995 ) - (995 )
At 30 September 2024 337,825 67,669 15,500 420,994
Depreciation
At 1 October 2023 54,052 35,572 13,948 103,572
Charge for year 6,757 4,818 388 11,963
Eliminated on disposal - (407 ) - (407 )
At 30 September 2024 60,809 39,983 14,336 115,128
Net book value
At 30 September 2024 277,016 27,686 1,164 305,866
At 30 September 2023 283,773 31,766 1,552 317,091

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 33,748 26,341
Other debtors 13,155 4,296
46,903 30,637

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 13,538 12,517
Trade creditors 23,120 26,764
Taxation and social security 57,233 48,781
Other creditors 42,494 12,031
136,385 100,093

The Furzedown Hotel Limited (Registered number: 09638212)

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


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 67,323 81,881
Other creditors 214,688 229,331
282,011 311,212

Included in other creditors: amounts falling due after more than one year is an amount of £18,275 (2023 : £31,813) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Interest is charged at market rate.

Included in other creditors is a balance of £100,000 which relates to redeemable preference shares of £1 each. The redeemable preference shares have been treated as a liability of the company and included within other creditors, due in greater than one year.

Redemption of the preference shares, wholly or in part, is at the option of the company on seven days notice to the preference shareholders, provided that the preference shares including all arrears of the preference dividend have been paid in full. The shares are redeemable at par together with all arrears of the preference dividend up to the date of redemption. There is no fixed date for redemption.