Caseware UK (AP4) 2024.0.164 2024.0.164 No description of principal activity2024-04-01false4441falsetruefalse 04703734 2024-04-01 2025-03-31 04703734 2023-04-01 2024-03-31 04703734 2025-03-31 04703734 2024-03-31 04703734 c:Director2 2024-04-01 2025-03-31 04703734 d:Buildings 2024-04-01 2025-03-31 04703734 d:Buildings 2025-03-31 04703734 d:Buildings 2024-03-31 04703734 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04703734 d:Buildings d:LongLeaseholdAssets 2024-04-01 2025-03-31 04703734 d:Buildings d:LongLeaseholdAssets 2025-03-31 04703734 d:Buildings d:LongLeaseholdAssets 2024-03-31 04703734 d:MotorVehicles 2024-04-01 2025-03-31 04703734 d:MotorVehicles 2025-03-31 04703734 d:MotorVehicles 2024-03-31 04703734 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04703734 d:OfficeEquipment 2024-04-01 2025-03-31 04703734 d:OfficeEquipment 2025-03-31 04703734 d:OfficeEquipment 2024-03-31 04703734 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04703734 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04703734 d:CurrentFinancialInstruments 2025-03-31 04703734 d:CurrentFinancialInstruments 2024-03-31 04703734 d:Non-currentFinancialInstruments 2025-03-31 04703734 d:Non-currentFinancialInstruments 2024-03-31 04703734 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 04703734 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04703734 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 04703734 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04703734 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 04703734 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 04703734 d:ShareCapital 2025-03-31 04703734 d:ShareCapital 2024-03-31 04703734 d:SharePremium 2024-04-01 2025-03-31 04703734 d:SharePremium 2025-03-31 04703734 d:SharePremium 2024-03-31 04703734 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 04703734 d:RetainedEarningsAccumulatedLosses 2025-03-31 04703734 d:RetainedEarningsAccumulatedLosses 2024-03-31 04703734 c:OrdinaryShareClass1 2024-04-01 2025-03-31 04703734 c:OrdinaryShareClass1 2025-03-31 04703734 c:OrdinaryShareClass1 2024-03-31 04703734 c:OrdinaryShareClass2 2024-04-01 2025-03-31 04703734 c:OrdinaryShareClass2 2025-03-31 04703734 c:OrdinaryShareClass2 2024-03-31 04703734 c:FRS102 2024-04-01 2025-03-31 04703734 c:Audited 2024-04-01 2025-03-31 04703734 c:FullAccounts 2024-04-01 2025-03-31 04703734 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04703734 d:WithinOneYear 2025-03-31 04703734 d:WithinOneYear 2024-03-31 04703734 d:BetweenOneFiveYears 2025-03-31 04703734 d:BetweenOneFiveYears 2024-03-31 04703734 c:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04703734 2 2024-04-01 2025-03-31 04703734 6 2024-04-01 2025-03-31 04703734 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04703734









The Unstuffy Hotel Co Limited









Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

 
The Unstuffy Hotel Co Limited
Registered number: 04703734

Balance Sheet
As at 31 March 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,960,688
13,169,605

Investments
 5 
1
1

  
11,960,689
13,169,606

Current assets
  

Stocks
 6 
101,484
96,931

Debtors: amounts falling due within one year
 7 
347,342
478,746

Cash at bank and in hand
 8 
108,806
163,794

  
557,632
739,471

Creditors: amounts falling due within one year
 9 
(2,597,429)
(9,058,715)

Net current liabilities
  
 
 
(2,039,797)
 
 
(8,319,244)

Total assets less current liabilities
  
9,920,892
4,850,362

Creditors: amounts falling due after more than one year
 10 
(5,922,209)
-

  

Net assets
  
3,998,683
4,850,362


Capital and reserves
  

Called up share capital 
 13 
152,899
143,925

Share premium account
 14 
23,070,736
22,182,310

Profit and loss account
 14 
(19,224,952)
(17,475,873)

  
3,998,683
4,850,362


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: 


Peter Anthony Robertson
Director

Date: 28 June 2025

The notes on pages 2 to 11 form part of these financial statements.

Page 1

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

1.


General information

The company is a private company limited by share capital. The company is incorporated in England and Wales, registration number 04703734. The address of the registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE. The principal place of business is Linthwaite House Hotel, Crook Lane, Bowness-on-Windermere, Cumbria, LA23 3JA.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company manages its capital to ensure that it will be able to continue as a going concern and to maximise its return to shareholders through optimisation of the debt equity balance. The company has net current liabilities of £2,087,840 (2024: £8,319,244).  
Included in current liabilities are amounts owed to group undertakings of £2,148,530 (
2024: £1,503,451).
The loans from group undertakings have been confirmed and a letter of support issued by the parent company confirms that it will not require repayment of the intercompany loans if the repayment would adversely affect the ability of the company to carry on its business as a going concern.
The parent company and shareholder have further confirmed that they will provide necessary funds to enable the company to continue its operations during the year ahead and settle its obligations and commitments that may occur during the ordinary course of business including alternative finance for any debt facilities falling due for repayment.
The Directors therefore believe that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

  
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
 
Sale of goods
 
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
 
Room Bookings: Revenue from room bookings is recognised when the guest checks in, with any deposits deferred until that time.
Food and Beverage Sales: Revenue from food and beverage sales is recognised when the goods are delivered to the customer.
Gift Shop Sales: Revenue from gift shop sales is recognised at the point of sale.

Rendering of services
 
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

Events and Conferences: Revenue from hosting events, conferences, or banquets is recognised when the event takes place.
Staff Housing: Revenue from staff rental of accommodation is recognised based on the length of stay or occupancy.
Other Services: Revenue from postage, laundry, and other ancillary services is recognised when the service is provided.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

Page 3

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Hotel including fixtures and fittings
-
Revaluation model
Other freehold property
-
Revaluation model
Motor vehicles
-
4 years straight line
Other equipment
-
4.5 years 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.
The hotel is initially recognized at cost and are subsequently revalued to fair value at each reporting date. The fair value changes are recorded in profit or loss. External valuers are used for valuation. Net gains from fair value fluctuations are not distributable to shareholders.

Page 4

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

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.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.16

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2024 -41).

Page 6

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

4.


Tangible fixed assets





Hotel including fixtures and fittings
Other freehold property
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 April 2024
21,472,742
1,890,426
36,000
228,689
23,627,857


Additions
6,101
-
-
20,002
26,103



At 31 March 2025

21,478,843
1,890,426
36,000
248,691
23,653,960



Depreciation


At 1 April 2024
10,197,742
65,426
36,000
159,084
10,458,252


Charge for the year
-
-
-
28,919
28,919


Impairment charge
1,206,101
-
-
-
1,206,101



At 31 March 2025

11,403,843
65,426
36,000
188,003
11,693,272



Net book value



At 31 March 2025
10,075,000
1,825,000
-
60,688
11,960,688



At 31 March 2024
11,275,000
1,825,000
-
69,605
13,169,605


In June 2025, a valuation was undertaken by Savills (UK) Limited which valued the hotel and other properties at £11,900,000, resulting in an impairment charge of £1,206,101 in the current year (2024: uplift of £69,052).

Page 7

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2024
1,256,682



At 31 March 2025

1,256,682



Impairment


At 1 April 2024
1,256,681



At 31 March 2025

1,256,681



Net book value



At 31 March 2025
1



At 31 March 2024
1


6.


Stocks

2025
2024
£
£

Stocks
101,484
96,931



7.


Debtors

2025
2024
£
£


Amounts owed by group undertakings
255,598
282,516

Other debtors
11,092
786

Prepayments and accrued income
80,652
195,444

347,342
478,746


Amounts owed by group undertakings are interest-free, unsecured and repayable on demand.

Page 8

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

8.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
108,806
163,794



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
-
6,922,209

Trade creditors
331,504
426,165

Amounts owed to group undertakings
2,150,644
1,503,451

Other taxation and social security
37,626
74,135

Other creditors
19,826
81,023

Accruals and deferred income
57,829
51,732

2,597,429
9,058,715


Amounts owed to group undertakings are interest free, unsecured and repayable on demand.


10.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
5,922,209
-


The bank loan was refinanced in October 2024 and now totals £5,922,209 (2024: £6,922,209), with a related interest rate of base rate plus 3.65% until 30 September 2027 (2024: base rate plus 4.5% until 30 September 2024). Interest is paid on a quarterly basis. The loan is secured by a charge over the Freehold Property owned by the company. 
The loan is repayable in full by 30 September 2027.

Page 9

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

11.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
-
6,922,209


Amounts falling due 2-5 years

Bank loans
5,922,209
-


5,922,209
6,922,209



12.


Financial instruments






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


13.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



13,109,882 (2024 -12,212,482) Ordinary A shares of £0.01 each
131,099
122,125
2,180,000 (2024 -2,180,000) Ordinary B shares of £0.01 each
21,800
21,800

152,899

143,925


On 3 June 2024, 897,400 A Ordinary shares were issued at £0.01 per share. The consideration paid by the immediate parent company was £1.00 per share.
All classes of shares rank pari passu.


14.


Reserves

Share premium account

The share premium account consists of amount paid for equity in excess of it's nominal value.

Profit and loss account

The profit and loss account reserve is the accumulation of profits and losses made by the company since
incorporation, net of dividends paid.

Page 10

 
The Unstuffy Hotel Co Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

15.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
12,975
12,975

Later than 1 year and not later than 5 years
9,922
22,897

22,897
35,872


16.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. Contributions totalling £3,887 (2024: £2,699) were payable to the fund at the balance sheet date and are included in creditors.


17.


Related party transactions

At the year end, The Unstuffy Hotel Co Limited owed the directors £nil (2024: £2,193) in respect of directors loan accounts. During the year the maximum amount owed by the company to the directors totalled £2,193 (2024: £2,193).


18.


Controlling party

The ultimate parent company of The Unstuffy Hotel Co Limited at the balance sheet date was Piveta Estates Private Limited, a company incorporated in India.
The parent of the largest and smallest group for which group accounts including The Unstuffy Hotel Co Limited are drawn up is Piveta Estates Private Limited.


19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 30 June 2025 by John Glover (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 11