IRIS Accounts Production v25.1.4.42 09031360 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090313602023-10-31090313602024-10-31090313602023-11-012024-10-31090313602022-10-31090313602022-11-012023-10-31090313602023-10-3109031360ns15:EnglandWales2023-11-012024-10-3109031360ns14:PoundSterling2023-11-012024-10-3109031360ns10:Director12023-11-012024-10-3109031360ns10:Director22023-11-012024-10-3109031360ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3109031360ns10:SmallEntities2023-11-012024-10-3109031360ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3109031360ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3109031360ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3109031360ns10:FullAccounts2023-11-012024-10-310903136012023-11-012024-10-3109031360ns10:RegisteredOffice2023-11-012024-10-3109031360ns5:CurrentFinancialInstruments2024-10-3109031360ns5:CurrentFinancialInstruments2023-10-3109031360ns5:Non-currentFinancialInstruments2024-10-3109031360ns5:Non-currentFinancialInstruments2023-10-3109031360ns5:ShareCapital2024-10-3109031360ns5:ShareCapital2023-10-3109031360ns5:RevaluationReserve2024-10-3109031360ns5:RevaluationReserve2023-10-3109031360ns5:RetainedEarningsAccumulatedLosses2024-10-3109031360ns5:RetainedEarningsAccumulatedLosses2023-10-3109031360ns5:NetGoodwill2023-11-012024-10-3109031360ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3109031360ns5:ComputerSoftware2023-11-012024-10-3109031360ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-11-012024-10-3109031360ns5:PlantMachinery2023-11-012024-10-3109031360ns5:FurnitureFittings2023-11-012024-10-3109031360ns5:ComputerEquipment2023-11-012024-10-3109031360ns5:NetGoodwill2023-10-3109031360ns5:ComputerSoftware2023-10-3109031360ns5:NetGoodwill2024-10-3109031360ns5:ComputerSoftware2024-10-3109031360ns5:NetGoodwill2023-10-3109031360ns5:ComputerSoftware2023-10-3109031360ns5:LandBuildings2023-10-3109031360ns5:PlantMachinery2023-10-3109031360ns5:FurnitureFittings2023-10-3109031360ns5:ComputerEquipment2023-10-3109031360ns5:LandBuildings2023-11-012024-10-3109031360ns5:LandBuildings2024-10-3109031360ns5:PlantMachinery2024-10-3109031360ns5:FurnitureFittings2024-10-3109031360ns5:ComputerEquipment2024-10-3109031360ns5:LandBuildings2023-10-3109031360ns5:PlantMachinery2023-10-3109031360ns5:FurnitureFittings2023-10-3109031360ns5:ComputerEquipment2023-10-3109031360ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3109031360ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3109031360ns5:Non-currentFinancialInstruments2023-11-012024-10-3109031360ns5:RevaluationReserve2023-10-31
REGISTERED NUMBER: 09031360 (England and Wales)













PENALLY ABBEY HOTEL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PENALLY ABBEY HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs M J Boissevain
Mr L J Boissevain





REGISTERED OFFICE: The Old Rectory
Bosherston
Pembroke
Pembrokeshire
SA71 5DN





REGISTERED NUMBER: 09031360 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - 1,066
Tangible assets 5 1,296,966 1,323,025
1,296,966 1,324,091

CURRENT ASSETS
Stocks 41,098 36,696
Debtors 6 5,287 2,030
Cash at bank and in hand 11,423 2,165
57,808 40,891
CREDITORS
Amounts falling due within one year 7 378,779 349,696
NET CURRENT LIABILITIES (320,971 ) (308,805 )
TOTAL ASSETS LESS CURRENT LIABILITIES 975,995 1,015,286

CREDITORS
Amounts falling due after more than one year 8 (667,796 ) (716,219 )

PROVISIONS FOR LIABILITIES (70,394 ) (73,559 )
NET ASSETS 237,805 225,508

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 185,000 187,000
Retained earnings 52,705 38,408
SHAREHOLDERS' FUNDS 237,805 225,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 30 June 2025 and were signed on its behalf by:




Mr L J Boissevain - Director



Mrs M J Boissevain - Director


PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Penally Abbey Hotel Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - 1% straight line on cost
Plant and machinery - 10% straight line on cost
Fixtures and fittings - 10% straight line on cost
Computer equipment - 25% straight line on cost

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£ £ £
COST
At 1 November 2023
and 31 October 2024 37,500 8,700 46,200
AMORTISATION
At 1 November 2023 36,434 8,700 45,134
Amortisation for year 1,066 - 1,066
At 31 October 2024 37,500 8,700 46,200
NET BOOK VALUE
At 31 October 2024 - - -
At 31 October 2023 1,066 - 1,066

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
COST OR VALUATION
At 1 November 2023 1,339,968 134,113 146,072 14,020 1,634,173
Additions - 8,300 1,388 - 9,688
At 31 October 2024 1,339,968 142,413 147,460 14,020 1,643,861
DEPRECIATION
At 1 November 2023 111,177 83,493 103,295 13,183 311,148
Charge for year 13,400 8,380 13,130 837 35,747
At 31 October 2024 124,577 91,873 116,425 14,020 346,895
NET BOOK VALUE
At 31 October 2024 1,215,391 50,540 31,035 - 1,296,966
At 31 October 2023 1,228,791 50,620 42,777 837 1,323,025

Cost or valuation at 31 October 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
Valuation in 2016 100,000 - - - 100,000
Valuation in 2019 100,000 - - - 100,000
Cost 1,139,968 142,413 147,460 14,020 1,443,861
1,339,968 142,413 147,460 14,020 1,643,861

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 5,287 2,030

PENALLY ABBEY HOTEL LIMITED (REGISTERED NUMBER: 09031360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 72,501 56,321
Trade creditors 42,419 44,789
Taxation and social security 52,506 45,345
Other creditors 211,353 203,241
378,779 349,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 217,796 266,219
Other creditors 450,000 450,000
667,796 716,219

The commercial mortgage is covered by a charge over the property, together with a £100,000 personal guarantee provided by the directors.

Other creditors relate to directors loans, upon which there is no set term for repayment.

9. RESERVES
Revaluation
reserve
£
At 1 November 2023 187,000
Reserve transfer (2,000 )

At 31 October 2024 185,000