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Registered number: 11425096









DAISH'S COUNTY HOTEL LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
DAISH'S COUNTY HOTEL LTD
REGISTERED NUMBER: 11425096

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
873,937
945,493

  
873,937
945,493

Current assets
  

Stocks
  
8,720
7,888

Debtors: amounts falling due within one year
 6 
15,691
15,939

Cash at bank and in hand
 7 
23,057
22,766

  
47,468
46,593

Creditors: amounts falling due within one year
 8 
(1,095,998)
(1,156,044)

Net current liabilities
  
 
 
(1,048,530)
 
 
(1,109,451)

Total assets less current liabilities
  
(174,593)
(163,958)

Provisions for liabilities
  

Deferred tax
 10 
(29,417)
(39,998)

  
 
 
(29,417)
 
 
(39,998)

Net liabilities
  
(204,010)
(203,956)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(204,110)
(204,056)

  
(204,010)
(203,956)


Page 1

 
DAISH'S COUNTY HOTEL LTD
REGISTERED NUMBER: 11425096
    
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 11 form part of these financial statements.

Page 2

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Daish's County 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 County Hotel, Station Road, Kendal, Cumbria, LA9 6BT.
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

Going concern

Since the balance sheet date, the property operated by the company has been sold to a third party. As at the date of preparing these accounts, no decision has been formalised regarding the future of the company, however management fully expect the company to continue in operation for at least 12 months from the signing of these financial statements. The company is supported by the parent company and the group, and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

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

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the period 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.


Page 4

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Hotel development expenditure
-
3
years

 
2.9

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.

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.

Page 5

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.10

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.

 
2.11

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.

 
2.12

Debtors

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

 
2.13

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.

 
2.14

Creditors

Short term creditors are measured at transaction price.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially
Page 6

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)

measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the period was 25 (2023 - 22).


4.


Intangible assets



Hotel develop- ment expenditure

£



Cost


At 1 October 2023
115,900



At 30 September 2024

115,900



Amortisation


At 1 October 2023
115,900



At 30 September 2024

115,900



Net book value



At 30 September 2024
-



Page 7

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





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

£
£
£
£
£



Cost or valuation


At 1 October 2023
846,291
74,832
376,742
11,242
1,309,107


Additions
-
940
3,001
-
3,941



At 30 September 2024

846,291
75,772
379,743
11,242
1,313,048



Depreciation


At 1 October 2023
16,926
72,279
264,318
10,091
363,614


Charge for the period on owned assets
16,925
1,117
56,924
531
75,497



At 30 September 2024

33,851
73,396
321,242
10,622
439,111



Net book value



At 30 September 2024
812,440
2,376
58,501
620
873,937

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Furniture, fittings and equipment
-
37,138

-
37,138

Page 8

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Other debtors
5,716
5,661

Prepayments and accrued income
9,975
10,278

15,691
15,939



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,057
22,766

23,057
22,766



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20,319
33,940

Amounts owed to group undertakings
994,899
973,037

Corporation tax
10,689
499

Other taxation and social security
43,282
102,677

Obligations under finance lease and hire purchase contracts
-
5,234

Other creditors
3,090
1,532

Accruals and deferred income
23,719
39,125

1,095,998
1,156,044



9.


Financial instruments

2024
£

Financial assets


Financial assets measured at fair value through profit or loss
23,057




Financial assets measured at fair value through profit or loss comprise...

Page 9

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
(39,998)


Charged to profit or loss
10,581



At end of year
(29,417)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(29,945)
(40,271)

Unpaid pension contributions
528
273

(29,417)
(39,998)


11.


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).


12.


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 £5,525 (2023 - £5,543). Contributions totalling £2,112 (2023 - £1,093) were payable to the fund at the balance sheet date and are included in creditors.


13.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
4,636
3,753

4,636
3,753

Page 10

 
DAISH'S COUNTY HOTEL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

14.


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.


15.


Post balance sheet events

Subsequent to the year end, the property from which the hotel operated was sold to a third party. This transaction was completed on 11 February 2025, and as the sale occurred after the reporting date, it does not impact the financial position as at 30 September 2024. The directors do not consider this event to require adjustment to the financial statements, but it is disclosed here due to its significance.


16.


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


17.


Auditors' information

The auditors' report on the financial statements for the period 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 11