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Registration number: 00767681

The Great House At Sonning Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

The Great House At Sonning Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

The Great House At Sonning Limited

(Registration number: 00767681)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

12,500,000

12,500,000

Current assets

 

Debtors

6

194,315

341,901

Other financial assets

5

523,809

793,651

Cash at bank and in hand

 

699,088

384,184

 

1,417,212

1,519,736

Creditors: Amounts falling due within one year

7

(10,785,073)

(13,012,336)

Net current liabilities

 

(9,367,861)

(11,492,600)

Total assets less current liabilities

 

3,132,139

1,007,400

Creditors: Amounts falling due after more than one year

7

(2,047,311)

-

Provisions for liabilities

(49,609)

-

Net assets

 

1,035,219

1,007,400

Capital and reserves

 

Called up share capital

9

500,000

500,000

Investment property revaluation reserve

1,942,521

1,992,130

Profit and loss account

(1,407,302)

(1,484,730)

Shareholders' funds

 

1,035,219

1,007,400

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 August 2025
 

.........................................
A P Bradshaw
Director

 

The Great House At Sonning Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
23 Beaumont Mews
First Floor
London
W1G 6EN
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency of the company is the pound sterling rounded to the nearest pound.

Going concern

As at 31 December 2024, the Company had net assets of £1,035,219 (2023: £1,007,400) and a profit after taxation of £27,819 (2023: £102,359). The company is currently making operating profits and the Directors anticipate that the business will continue to be profitable and cash generative going forward.

The parent company, Mudlark Hotels Limited, has confirmed, in writing, that it will not call in its intercompany loan within 12 months from the date of approval of the financial statements unless there are sufficient funds to be able to do so.

On this basis, the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, and for at least 12 months from the date of approval of the financial statements and continue to adopt the going concern basis in preparing the financial statements.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 14 August 2025 was Dean Blunden BFP FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Revenue is recognised at the point at which accommodation and related services are provided and when the amount of revenue can be measured reliably and it is probable that the Company will receive the consideration due under the contract. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax.

 

The Great House At Sonning Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

The Great House At Sonning Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Investment properties

2024
£

At 1 January

12,500,000

At 31 December

12,500,000

There has been no valuation of investment property by an independent valuer. The valuation has been made by the director at the year end based on predicted rental yields.

5

Other financial assets (current and non-current)

2024
£

2023
£

Listed investments

Valuation as at 1 January 2024

793,651

1,015,873

Fair value adjustment

(269,842)

(222,222)

Valuation as at 31 December 2024

523,809

793,651

At the date of approval of these financial statements, these investments had a market value of approximately £389,000.

 

The Great House At Sonning Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

10

62,401

17,812

Prepayments

 

21,563

-

Other debtors

 

110,351

324,089

 

194,315

341,901

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

151,652

2,326,368

Amounts owed to group undertakings

10

10,586,281

10,608,281

Taxation and social security

 

23,196

54,465

Other creditors

 

23,944

23,222

 

10,785,073

13,012,336

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,047,311

-

 

The Great House At Sonning Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

151,652

2,326,368

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,047,311

-

Bank borrowings are secured against the investment property.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

450,000

450,000

450,000

450,000

Preference shares of £1 each

50,000

50,000

50,000

50,000

500,000

500,000

500,000

500,000

10

Related party transactions

The company has taken advantage of the exemption available under Section 33 of FRS 102 and has not disclosed related party transactions with wholly owned members of the group.

Summary of transactions with other related parties

The company paid professional fees of £18,000 (2023: £18,000) to Osmond Capital Limited, a related party through common control and directors in common.

11

Parent and ultimate parent undertaking

The company's immediate parent is Mudlark Hotels Limited, incorporated in England and Wales.

 The ultimate parent is Xercise 2 Limited, incorporated in England and Wales.

 The ultimate controlling party is H E Osmond.