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OLD RECTORY HOTEL (CROSTWICK) LIMITED

Registered Number
06180537
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

OLD RECTORY HOTEL (CROSTWICK) LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

Colin Solomon
Dianne Solomon
Ian Solomon

Company Secretary

Dianne Solomon

Registered Address

The Gallery Ketteringham Hall
Church Road
Wymondham
NR18 9RS

Registered Number

06180537 (England and Wales)
OLD RECTORY HOTEL (CROSTWICK) LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets318,00027,000
Tangible assets420,56333,951
38,56360,951
Current assets
Stocks515,67516,115
Debtors620,80166,029
Cash at bank and on hand64,55951,358
101,035133,502
Creditors amounts falling due within one year7(125,122)(109,180)
Net current assets (liabilities)(24,087)24,322
Total assets less current liabilities14,47685,273
Creditors amounts falling due after one year8(2,501)(12,500)
Provisions for liabilities9(2,120)(3,824)
Net assets9,85568,949
Capital and reserves
Called up share capital100100
Profit and loss account9,75568,849
Shareholders' funds9,85568,949
The financial statements were approved and authorised for issue by the Board of Directors on 21 July 2025, and are signed on its behalf by:
Ian Solomon
Director
Registered Company No. 06180537
OLD RECTORY HOTEL (CROSTWICK) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill is stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. The directors have determined that amortisation the expected useful life of the asset to be twenty years. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery20-
Fixtures and fittings20-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year3227
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 24180,000180,000
At 31 March 25180,000180,000
Amortisation and impairment
At 01 April 24153,000153,000
Charge for year9,0009,000
At 31 March 25162,000162,000
Net book value
At 31 March 2518,00018,000
At 31 March 2427,00027,000
4.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 April 2419,398100,101119,499
Disposals(8,630)(19,358)(27,988)
At 31 March 2510,76880,74391,511
Depreciation and impairment
At 01 April 246,63978,90985,548
Charge for year4313,0133,444
On disposals(4,832)(13,212)(18,044)
At 31 March 252,23868,71070,948
Net book value
At 31 March 258,53012,03320,563
At 31 March 2412,75921,19233,951
5.Stocks

2025

2024

££
Finished goods15,67516,115
Total15,67516,115
6.Debtors: amounts due within one year

2025

2024

££
Other debtors5,32453,246
Prepayments and accrued income15,47712,783
Total20,80166,029
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables11,75017,720
Bank borrowings and overdrafts10,00010,000
Taxation and social security34,91832,323
Other creditors2,3374,148
Accrued liabilities and deferred income66,11744,989
Total125,122109,180
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts2,50112,500
Total2,50112,500
9.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)2,1203,824
Total2,1203,824