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Registered number: 08595214









DAISH'S SOMERSET HOTEL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
DAISH'S SOMERSET HOTEL LIMITED
REGISTERED NUMBER: 08595214

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
819,617
848,948

  
819,617
848,948

Current assets
  

Stocks
  
10,164
11,075

Debtors: amounts falling due within one year
 5 
252,986
31,616

Cash at bank and in hand
 6 
30,524
29,339

  
293,674
72,030

Creditors: amounts falling due within one year
 7 
(198,401)
(211,546)

Net current assets/(liabilities)
  
 
 
95,273
 
 
(139,516)

Total assets less current liabilities
  
914,890
709,432

Provisions for liabilities
  

Deferred tax
 8 
(8,932)
(9,111)

  
 
 
(8,932)
 
 
(9,111)

Net assets
  
905,958
700,321


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
905,858
700,221

  
905,958
700,321


Page 1

 
DAISH'S SOMERSET HOTEL LIMITED
REGISTERED NUMBER: 08595214
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G A Brown
Director

Date: 12 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Daish's Somerset Hotel Limited is a limited company incorporated in the United Kingdom, registered office The Devonshire Hotel, Park Hill Road, Torquay, Devon, TQ1 2DY, principal place of business The Somerset Hotel, St George's Crescent, Central Promenade, Llandudno, LL30 2LF.

The principal activity of the company during the year was the operation of a hotel.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Effective from the balance sheet date, the company has chosen to early adopt the amendments to FRS 102 issued in the Periodic Review 2024, which are otherwise effective for accounting periods beginning on or after 1 January 2026. These amendments have been considered in the preparation of these financial statements. In line with the transitional provisions of FRS 102, the company has not restated prior year figures. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for accommodation services and related hotel goods provided. Accommodation sales, including deposits received in advance, are recognised as turnover at the date of stay.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
Straight Line
Plant and machinery
-
25%
Straight Line
Fixtures and fittings
-
15%
Straight Line
Office equipment
-
25%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.4

Leasehold improvements

Leasehold improvements are measured under the revaluation model and held in the balance sheet at fair value less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.
Fair values are determined from market based evidence either undertaken by professionally qualified valuers or by directors.
Upward revaluations are recognised in other comprehensive income, except to the extent that the revaluation reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case it is recognised in profit or loss. Downward revaluations are recognised first in other comprehensive income, to reverse any gain already recorded on that asset, then any excess in profit or loss.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any provision for bad or doubtful debt.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 37 (2023 - 34).


4.


Tangible fixed assets





Leashold improve- ments
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
794,305
151,954
300,932
14,932
1,262,123


Additions
-
9,158
7,873
-
17,031



At 30 September 2024

794,305
161,112
308,805
14,932
1,279,154



Depreciation


At 1 October 2023
15,886
135,279
248,838
13,172
413,175


Charge for the year on owned assets
15,938
7,234
22,378
812
46,362



At 30 September 2024

31,824
142,513
271,216
13,984
459,537



Net book value



At 30 September 2024
762,481
18,599
37,589
948
819,617



At 30 September 2023
778,419
16,675
52,094
1,760
848,948

Page 6

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
221,604
-

Other debtors
5,173
8,109

Prepayments and accrued income
26,209
23,507

252,986
31,616



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
30,524
29,339

30,524
29,339



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34,833
40,115

Amounts owed to group undertakings
-
16,550

Corporation tax
8,285
499

Other taxation and social security
70,069
84,492

Other creditors
3,239
6,451

Accruals and deferred income
81,975
63,439

198,401
211,546


Page 7

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Deferred taxation




2024


£






At beginning of year
(9,111)


Charged to profit or loss
179



At end of year
(8,932)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(9,211)
(9,766)

Pension surplus
279
655

(8,932)
(9,111)


9.


Contingent liabilities

The company is party to a group banking facility under which the company has provided a debenture in support of its own borrowings and those of other group companies. At the balance sheet date the total indebtedness of the group secured in favour of its bankers was £9,812,748 (2023: £10,238,390).


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,982 (2023 - £9,729). Contributions totalling £1,113 (2023 - £2,619) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

The company has taken advantage of the exemption under FRS 102 from disclosing transactions and balances with other members of the group wholly owned by Daish's Group Limited, on the basis that Daish's Group Limited produces consolidated financial statements for the group as a whole.

Page 8

 
DAISH'S SOMERSET HOTEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Controlling party

The smallest and largest group in which the company’s results are included are the consolidated accounts of the ultimate parent company, Daish’s Group Limited. These are available to the public and may be obtained from:

The Devonshire Hotel
Park Hill Road
Torquay
Devon
TQ1 2DY

The ultimate controlling party is G A Brown.


13.


Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 13 June 2025 by Katie Harvard Taylor ACA (Senior Statutory Auditor) on behalf of Hillier Hopkins LLP.

 
Page 9